Latest on the Bankruptcy Blog

The chance to start fresh is not available everywhere, but you are lucky to have this chance when you have loads of debts on your shoulders. Bankruptcy wipes out almost all your debts and lends you a hand in getting back on our feet. But, before proceeding further, you must know whether you can file  … Read more

Bankruptcy is not a universal act or law with identical conditions for everyone. However, every chapter of bankruptcy law has something different to offer as per varying business and credit situations. If you are also confused between chapter 7, chapter 11, or chapter 13 of bankruptcy, then the following guide can be highly assistive for  … Read more

Seniors often retire, having enough savings to lead a life of comfort. In these circumstances, any sign of a rise in debt could cause worry. While there might be some genuine reasons to worry about filing bankruptcy if you are overwhelmed in debt or risk, the loss of your savings could save your comfortable lifestyle  … Read more

An individual needs to thoroughly assess his/her assets and debts before filing for bankruptcy. This process is known as pre-bankruptcy planning. In this stage, one needs to ensure that they avoid the common mistakes made in a bankruptcy proceeding and come out of the bankruptcy proceedings triumphant. Consult a Legal Expert Individuals filing for bankruptcy  … Read more

The Italian nomination of bankruptcy indicates its origin from the words Banca rotta means broken bench or bank. In ancient times, if a man used to owe some amount and become unable to repay, his family was usually forced to be a part of debt slavery until the debtor pays for his losses with physical  … Read more

Chapter 7 bankruptcy does not require you to immediately repay your debt. The trustees will take any non-exempt properties and sell it to distribute your assets among your creditors. After completing this bankruptcy process, your bankruptcy discharge will wipe out all your qualifying dischargeable debts. Secured Debt Secured debts are those which the creditor takes  … Read more

The United States Court of Appeals for the Fourth Circuit recently gave a highly significant ruling in the case of Hurlburt v. Black, which affects how bankruptcy courts handle certain mortgages in North Carolina when Chapter 13 filings are made. When making a Chapter 13 filing, the debtors file a repayment plan with the bankruptcy  … Read more

The bankruptcy estate is one of the basic tenets of bankruptcy law. When a bankruptcy case is initiated, then a “bankruptcy estate” is created. The estate then becomes the owner of almost all of the assets and properties of the debtor. The properties that become a part of the ‘bankruptcy estate’ remain under the bankruptcy  … Read more