Chapter 13 bankruptcy allows individuals with a regular income to create a plan to repay all or part of their debts. It is often referred to as a reorganization bankruptcy, as it allows the debtor to restructure their finances and make regular payments to creditors over a period of three to five years. The Impact…
Bankruptcy can be a useful tool for individuals who are struggling with overwhelming debt. However, not all debts are treated equally in bankruptcy. Gambling debts, in particular, can pose unique challenges when it comes to filing for Chapter 7 bankruptcy. Here’s what you need to know about how Chapter 7 bankruptcy affects gambling debts. What…
Gambling and bankruptcy can carry a heavy social stigma that can be difficult to overcome. Many people feel embarrassed and ashamed of their financial situation, which can make it even harder to reach out for help and support. However, it’s important to remember that you are not alone and there are strategies for overcoming the…
For individuals struggling with debt, filing for Chapter 13 bankruptcy can be a viable solution to gain control over their finances. However, if you have received gambling winnings before filing for bankruptcy, it is crucial to understand how these winnings will be treated under Chapter 13 bankruptcy law. Are Gambling Winnings Included in the Bankruptcy…