Chapter 7 Bankruptcy | The Pros And Cons Of Declaring Bankruptcy In A Post COVID-19 World

Chapter 7 Bankruptcy is a powerful legal tool in the US that provides relief to debtors. In today's video, Bankruptcy Attorney John Skiba shares three of the pros and three of the cons of filing bankruptcy in a post COVID-19 world.

🔥📆 Book an appointment to speak with John: (Arizona Residents Only) [phone].

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KEY MOMENTS
00:00 Intro & Summary
00:30 Bankruptcy And Debt Issues
1:20 Automatic State
2:16 Discharge Of Unsecured Debts
3:18 Fresh Start
4:04 Credit Hit
5:35 Lose Assets
7:20 Preferential Payments
8:31 Fraudulent Transfers
10:08 Final Comments

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MORE ABOUT JOHN SKIBA
John Skiba is a bankruptcy & consumer protection attorney in the state of Arizona.

John helps clients with chapter 7 bankruptcy & chapter 13 bankruptcy for Arizona residents.

🌵🌵🌵🌵🌵 ARIZONA RESIDENTS ONLY: If you live in the state of Arizona and need help with a junk debt buyer lawsuit or need to file bankruptcy I can help you directly.

🔥📞 Call John now [phone]

John offers informational products and strategies for consumers facing serious debt problems - particularly those being sued by junk debt buyers like Midland Funding, Portfolio Recovery Associates, Cavalry SPV, and many more.

[mihafeliz]

Great content.
I am on a verge of filing. Still pondering.

My concerns may be unreal but I worry if chapter 7 would affect
A) my job search, cause I already see how car insurance is affected by my debt . Would it make things worse etc (especially for a good paying prof jobs. I still have hope, cause I am studying now on my own)
B) citizenship application, I plan to do it. I postponed this for a few years, cause got in financial trouble.
May be these questions are important for other people...

Good luck to everyone

[vupwnud]

Excellent your channel of the best 👍🙏. In 2015 I tried to fulfill my commitments and fill out a chapter 13 but then we realized that we still could not fulfill it and we decided to fill out a chapter 7, I understand that chapter 13 was dismissed but I still have my doubts. I would like to see how I could obtain a copy of my entire case including the list of creditors, please help... Gra

[The_Hidden_Atlas]

Good afternoon, I'm 31, engaged, and in trouble. I live in Florida, where I'm about 31k in debt. I make around 3, 200 a month and I owe 15k on a 2015 nissan altima that just broke down. Credit score 530. Is bankruptcy right for me?

[TheRoxyB]

Can you file if you’re not behind on your unsecured debt but have been struggling for years keeping up with minimum payments due to unsteady income.

[robertwebb]

Thank you for these vids! After traveling around it seems like the whole world is hyperinflating and nobody will be able to afford food or fuel. We're all living off credit cards and rates are about to go up.

[nmc]

Ugh. I still dont know what to do. My income took a big hit starting at the end of 2019..I was laid off from a job ..I immediately went back to school ft 18 cr h x 2 semesters) to go from associate degree RN to BSN rn...then started grad school right after that.
I have health issues which do not allow me to work bed side 12 to 13 + hour shifts anymore ...
So thats partly why I wanted more education to move away from those heavily physical nursing jobs..

Now I work at a school part time. My hourly wage is good but i dont earn much overall.

Working on getting a more stable position. Also in a HORRIBLE marriage with a narcissist. A man with probably malignant npd. He moved from country to country..he came here to get a 2nd mba + has it. Much credit card debt. Very very controlling with finances.

Doesn't want to help me much + doesn't want me to file bankruptcy.

We have a mortgage and I would like to take over and divorce him . Don't want Bankruptcy to completely RUIN my chances of getting a mortgage all in my name in the next year or two

He wont join me in filing bc hes a coat accountant and doesnt want job issues for himself

He makes it all sound very very scary and hopeless. I have 100k student loan, 45 k cc I know the student loan wont go away

[terryschablow]

Appreciate the info. I don't plan on using it, but it's always good to know.
.

[justiceonly]

Hi,
Very grateful for you. As of July 2022, what is the homestead exemption in Arizona please? Also, could it ever goes down in the future from the past incidents?
Thank you

[lifewithme]

Hell they be in more debt than we do lol....