As tempting as bankruptcy may be, it is nothing to be entered into lightly and should always be considered as a last resort. These articles educate you about the bankruptcy process, reasons to avoid it at all costs, instances where it may make sense, and finding professionals to help. We cover bankruptcy alternatives, means testing, and finding a good bankruptcy attorney.
The topic of student loans and student debt is now at the forefront of the conversation about overall consumer debt in America. Student loan debt is now larger than credit card debt with a collective $1.7 trillion burden of debt and the …
As though filing for bankruptcy isn’t stressful enough, you’re further challenged with finding a competent bankruptcy attorney you can trust. Naturally, it can be overwhelming, but it need not be difficult. It will most likely be a totally unfamiliar process and can …
As tempting as bankruptcy may be, it is nothing to be entered into lightly and should always be considered as a last resort. To that end, before you file for bankruptcy, there are two things you need to do first, …
A bankruptcy petition can be either discharged or dismissed after it has been filed. Should your bankruptcy be discharged, this means that you have met the terms of your agreement, and your bankruptcy has been completed. A dismissal, however, occurs when the petitioner does not …
If you have exhausted all of your alternatives to bankruptcy, but still find yourself shying away from the process, ask yourself why. One of the many reasons people choose not to file bankruptcy, even if it would benefit them, is the …
Filing for bankruptcy in 2017 is virtually no different than any other year. The bankruptcy laws haven’t changed much since 2005, when President Bush signed into law “The Bankruptcy Abuse Prevention and Consumer Protection Act.” This article will summarize the changes …
President Bush signed into law The Bankruptcy Abuse Prevention and Consumer Protection Act back in April of 2005, which made some drastic changes to the U.S. Bankruptcy Code. One of those changes was the addition of a Means Test. The Means Test …
If you are reading this article, chances are you took the plunge and filed for bankruptcy. Hopefully, this decision was made with a lot of thought and advice from a competent financial and legal professional. Rebuilding your life after bankruptcy, including …
Bankruptcy does happen to good people — so don’t beat yourself up if you are thinking about filing Chapter 7 or Chapter 13 bankruptcy. Bankruptcy was designed to help those facing insurmountable debt and financial hardship, get a fresh start and eliminate most if not …
We respond to questions on our discussion forum from people who are $75,000, $100,000, or more in debt. Due to the changes in bankruptcy law in 2005, many people who could have filed for Chapter 7 bankruptcy in the old days are …
Disclaimer What is Chapter 7 bankruptcy? Who can file bankruptcy? Is it true that I can eliminate all my debt? Do I have to go through credit counseling before filing for bankruptcy? What are the most common reasons for filing …
There are two main ways to file personal bankruptcy under the U.S. Bankruptcy Code — Chapter 7 and Chapter 13. In a CH 7, your assets are liquidated to pay off your debts and then you are given a clean slate, so …
If you are thinking about filing for Chapter 7 bankruptcy, you are probably wondering how much of your personal property you will be allowed to keep once you file. Can you keep that signed painting, your coin collection, even your …
Filing for bankruptcy offers a fresh start when you find yourself overwhelmed by your debts. People may turn to bankruptcy for no fault of their own and for many different reasons. Maybe you lost your job or a family member suffered …
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) opened a new era in the history of bankruptcy law and practice. It was passed by Congress and signed into law by President Bush on April 20, 2005. October …
We get a lot of questions on our forums about bankruptcy and many are looking for a way to avoid filing for bankruptcy. While there is no easy answer and everyone has a unique situation, we thought we would put together some of best …
Filing bankruptcy can be a scary proposition and one that should not be taken lightly. Even though bankruptcy cases filed in federal courts for the fiscal year 2016 are the lowest since 2010, you probably know someone who has recently filed …
If you lose your job due to a debilitating disease, you lose your health insurance just when you need it the most, overwhelming medical bills are the number one reason people file for bankrutcpy. From doctors’ visits, to hospital stays, to medications, …
Bankruptcy fraud is a white-collar crime and there are four distinct methods of committing bankruptcy fraud: Concealment of assets Intentionally filing incomplete or false forms Filing multiple times using false or real information in several states Bribing a court-appointed Trustee In …
When you’re deep in debt and under the age of 30, it feels like you’re going one step forward and two steps back. You might be just getting started in your career, but all the money you make goes toward …
It is not uncommon for people who have been struggling for years to make minimum payments on their debts to suddenly find out they are too broke to pay a lawyer or pay the bankruptcy filing fees. As a result, …
Talk to a Credit Expert Before Filing Chapter 7 Bankruptcy Filing for bankruptcy is a big step and one that will affect your credit for 7 to 10 years. It is not a step you want to take without first …
Filing for bankruptcy is difficult. It’s not just the fact that you have to go through the hard process of recognizing and accepting that you’ve reached a hard point in life, but also that you have to figure out how …
While bankruptcy can be a positive step in the right direction, that’s only true under the right circumstances. Sometimes alternatives to bankruptcy are best. For one thing, bankruptcy may not wipe out all of your debt. Plus, you’re still stuck needing to repair bad credit that bankruptcy leaves in its wake. The only way to know whether bankruptcy is right for you is to educate yourself about the process. This list of resources is a great place to start.
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