The changes made to the bankruptcy code in 2005 set about some new requirements and rules for those filing for bankruptcy. In addition to an increase in the costs of filing fees, debtors also have to pass a rigorous income test to weed out those who could resolve their debts through Chapter 13 instead of  … Read more

One of the most sought after benefits of bankruptcy is protection from creditors. When a debtor files for bankruptcy an automatic stay ordered is issued, which legally prohibits creditors from making contact or collection attempts with the debtor. However, not all creditors abide by this legal order. What Happens Then? If a creditor violates an  … Read more

Just weeks after the American Airlines bankruptcy filing, more announcements come regarding employee layoffs and cutbacks. Having already laid off several pilots and flight crew from their sister airline, American Eagle, AMR is planning to cut another 150 employees by the end of the week. Questionable Efforts There are many concerns over some of the  … Read more

When it comes to filing for bankruptcy, there are many things that consumers should know. Things aren’t always as easy as 1-2-3, but they don’t have to be impossible either. Getting to know a few key components to the bankruptcy process can significantly improve your case outcome. A is for Automatic Stay— is one of  … Read more

As the economy has continued to challenge us more each year, many people have been faced with some hard truths. Personal debt burdens have reached all time highs, people are losing their homes to foreclosure more than ever before and much of this has been reflected in bankruptcy filing patterns over the last decade. Ups  … Read more

One of the misconceptions associated with filing for bankruptcy is the stigma associated with the process. Many people fear the bankruptcy process because of rumors associated with the process. While the process may reflect on your financial standing, it doesn’t reflect on you as a person. It certainly does not have to interfere with your  … Read more

Many people file for bankruptcy only to find out that they violated a requirement and their case will be dismissed. Although there are some instances in which the actions were considered to be fraudulent, most of the time this results from unintentional actions. Before you file for bankruptcy it is important to  know a few  … Read more

Filing for bankruptcy is not an easy decision for anyone and many people fear the process, but you don’t have to face it alone. Hiring a bankruptcy attorney can be a great asset when working your way through the debt relief process. Even if you decide to go it alone, many attorneys offer free consultations  … Read more

Getting  behind on payments when you own or rent a home can be detrimental. The process of foreclosure and eviction is an unpleasant one and often results in further financial problems. While filing for bankruptcy may be able to help, there are a few things to consider. Owning Vs. Renting If you own a home  … Read more

Over the years there has been an increase in the number of fraudulent bankruptcy cases. Part of the reason is simply due to the increased number of filings in general, the other part is due to the fact that many consumers don’t know much about the bankruptcy process. If you are considering filing for bankruptcy,  … Read more