Latest on the Bankruptcy Blog

When you are overwhelmed in debt and wondering how you’re going to pay your bills, the thought of paying a bankruptcy attorney can be daunting. When you file bankruptcy, there are additional fees involved besides just paying your lawyer. Filing Fees When you file your paperwork with the court, there will be a filing fee.  … Read more

Some of the more popular scams are targeted against people that have had recent financial problems. Names and contact information can be obtained from those that file bankruptcies from court records, foreclosure records, and debt collectors list. These scammers are assuming you will be desperate enough to make bad decisions regarding your credit. Some lenders  … Read more

When you file bankruptcy, a court-appointed trustee will be assigned to your case. This trustee will remain active in your case for the entire proceedings. The trustee is there to protect your creditor’s interest and make sure you are being fair and honest regarding your debt. Chapter 7 In Chapter 7 bankruptcy, your trustee will  … Read more

For personal bankruptcy, anyone who lives in or has property in the United States can file bankruptcy. There are a few exceptions like if you can pass your states means test for Chapter 7, or if you have a reliable source of income for a Chapter 13 bankruptcy. Also, you must not have received a  … Read more

Chapter 7 bankruptcy is often called a liquidation bankruptcy. A court-appointed trustee will examine your assets to determine if any non-exempt property is valuable enough to be sold and the proceeds distributed to your creditors. Certain exempt property can not be sold, and you will be able to keep them throughout your case. The trustee  … Read more

When you are struggling financially, sometimes bankruptcy can be the wrong choice to get your finances back on track. A chapter 7 bankruptcy is the fastest and easiest form of bankruptcy. In as little as three to six months, all of your qualifying debt can be eliminated. Sometimes it is better to file a Chapter  … Read more

When you file bankruptcy, most debts can be eliminated. Unsecured debts are usually eligible for discharge, credit cards, medical debt, utilities, payday loans, some taxes, and other loans that do not have collateral attached to them. Exemptions Every state allows you to keep certain assets; these are considered “exempt” in bankruptcy. Some states allow you  … Read more

Each year hundreds of thousands of people search out financial counseling to get out from under their overwhelming credit card debt. Add that to the million or so required to take credit counseling before they can proceed with their bankruptcy case, and that is a considerable segment of the population struggling with credit card debt.  … Read more