Bankruptcy Law Blog

Bankruptcy may be the fastest and easiest way to deal with your debt problems. If you do not have a better way to handle your debt, bankruptcy can give you protection from your creditors. Bankruptcy is a legal proceeding where you will want to get professional help to deal with the complicated rules and paperwork.…

Just like most other services, filing bankruptcy will cost money. An avoidable cost will be filing the legal forms and having them processed by the officers of the court. Fees vary by state and the type of bankruptcy you are filing. Attorney fees also vary by the type of bankruptcy you are filing and the…

If you have several assets that you would like to keep and have a reliable source of income, Chapter 13 bankruptcy is often the best option for you and your family. It may be helpful to know the steps you will be taking in the bankruptcy process to get financial relief. Talking to an attorney…

A trustee will be assigned to your case within a few days of filing Chapter 13 bankruptcy. The court will send a Notice of Appointment of Trustee, providing the name, address and phone number of the trustee assigned to your case. The notice may also list any financial documents the trustee wants copies of and…

The automatic stay prevents most creditors, collection agencies or any other party seeking to collect a debt from you to contact you. By law, they must stop all collection attempts from you, this includes: ∙ Phone calls ∙ Letters ∙ Liens ∙ Wage garnishments ∙ Lawsuits ∙ Repossessions ∙ Shut off utilities or services ∙…

When you file bankruptcy, the court will want to know if anyone else could be responsible for the debt you are attempting to discharge. They may look for these other parties, called co-debtors, in attempts to collect amounts unpaid by your discharge. Some of your debts may have co-debtors, co-signers, ex-spouses, non-filing spouses, or joint…

If you and your spouse are considering filing bankruptcy, there may be barriers you didn’t know about. For instance, if you did not obtain a license and go through a ceremony, the federal government may not consider you married. For many couples, it may be beneficial to file as a married couple to save money…

Sometimes it is difficult to know what type of bankruptcy would be in your best interest; here is a quick guide to cover the basics. You should ultimately talk to a bankruptcy attorney to determine the best course of action for your unique situation. Analysis of Income and Debt In both Chapter 7 and Chapter…

Chapter 13 bankruptcy is for reorganization and repayment of your debt. People often choose Chapter 13 when they are behind in their secured loans such as their home or vehicles, and they want to keep those assets. Chapter 13 bankruptcy can also be an option if someone doesn’t qualify to file a Chapter 7 liquidation…

If you fall behind on your car payments, and you believe your vehicle is about to be repossessed, one of the first things you should do is remove any personal items out of your car. Sometimes personal belongings can vanish from your car at the impound lot. If you leave necessary items in your vehicle…