Consumer Bankruptcy Law

Having recently gone through the process there are a few things I wish I had known before I started. Continue reading for some very useful steps to take in the months BEFORE you file.

There may be no limits as to how many times you can declare yourself bankrupt, but there are restrictions on how often you can file for bankruptcy protection. So, for example, you can file for...

Bankruptcy can be a difficult and humiliating process, and many people force to file would like to see the proceedings kept as private as possible. The problem with legal proceedings is they are...

Some debtors enjoy a relatively smooth course from the start of their bankruptcy case to the discharge of their case by the court. Some cases, however, become far more complicated and time...

If you are in the midst of a bankruptcy case and find that you missed including a creditor at the start of the proceedings, there is a procedure in place to add a creditor. Pursuant to the U.S....

Bankruptcy is a legal process for eliminating debt that you cannot pay, whether from the loss of a job, overspending far above your financial means, or medical costs. The State of New Hampshire...

In bankruptcy, a discharge is an order that prevents a creditor from collecting on an outstanding debt from the debtor. A discharge order essentially dissolves any liability the debtor has for the...

By filing a bankruptcy, you take an affirmative step toward keeping your home even if your home mortgage lender foreclosed on your property.There are steps that you take in bankruptcy court that...

Whether you or your spouse has lost a job, gotten sick, or just taken on too much responsibility, bankruptcy may be the path you need to take. There are two different types of bankruptcy for...

After filing for bankruptcy, you face a variety of difficult decisions about what to do with your assets, with property that you own. For example, if you own an automobile--and most people in...

Chapter 13 allows a debtor to satisfy his creditors without liquidating his property. The basic qualification for Chapter 13 is sufficient income to make regular monthly payments over a three or...

Generally speaking, a bankruptcy estate is the total value of all of your property on the date that you file for bankruptcy protection. For the most part, any property that you acquire the right...

Individuals can file for bankruptcy protection without an attorney. Businesses, however, must file bankruptcy with an attorney. Filing bankruptcy as an individual is fairly easy without an...

Most of the bankruptcy process occurs away from the supervision of a judge. The trustee takes the responsibility of mediating between debtor and creditors, and can resolve many issues between...

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 made credit counseling mandatory for all consumer bankruptcy debtors. By law, this counseling must come from a nonprofit...

A Chapter 7 bankruptcy proceeding is always conducted under the jurisdiction of a Court of Law. The processes for opening the bankruptcy case, moving through the evaluation and liquidation, and...

In the aftermath of a discharge from bankruptcy, you will want to see the impact of the case on your credit scores. Credit scores are vital bits of information when it comes to purchasing a home,...

All people who file subsequent Chapter 7 or Chapter 13 cases must take the means test. The results of this test determine if you qualify for a Chapter 7 discharge and the amount of monthly...

If you have debt it is important for you to realize you’re not alone. Thousands of people find themselves owing more than they feel they can pay. However, you can follow some standard steps to...

When you find yourself unable to repay your debts, you can get relief by filing for bankruptcy under Chapter 7 proceedings. You'll qualify for the proceedings under the "means test," fill out the...

The procedure for converting from one chapter of bankruptcy protection to another is quite simple. Much more complicated is dealing with the implications of the new chapter. If you are considering...

Once you've filed for Chapter 7 bankruptcy protection, you can't just withdraw your case whenever you feel like it. Though, as the debtor, you do realize some benefit from bankruptcy, the process...

The perennial challenge of consumer bankruptcy attorneys is how to get paid by clients who, by definition, are short of cash. Some bankruptcy attorneys offer "no money down" incentives to...

Chapter 7 bankruptcy is the most common form of bankruptcy. Chapter 7 is a financial fresh start for individuals, or a financial termination for businesses. For individuals, Chapter 7 gets rid of...

A Chapter 7 is a bankruptcy proceeding that is available to individuals, married couples and businesses in the United States. The main purpose of a Chapter 7 bankruptcy is to quickly liquidate the...

According to Section 521(a)(1)(b)(i) of the United States Bankruptcy Code, every person who files bankruptcy must disclose all property and assets. Debtors must disclose real estate, vehicles and...

When you file for bankruptcy protection, you must provide the court with income information, debtor information and a complete financial snapshot. The bulk of the documentation features...

The process for surrendering your house house in a bankruptcy proceeding depends upon the type of case you file. Consumers generally elect to pursue either a Chapter 7 or Chapter 13 bankruptcy....

Filing for bankruptcy due to the mental illness of a debtor is a complex process involving two separate courts. The probate and bankruptcy courts play roles in regard to a mentally ill individual...

Thinking of filing for bankruptcy? Read on for more about credit card bankruptcy, bankruptcy law firms, and bankruptcy advice.

The means test is a complicated formula to determine whether you qualify to file for Chapter 7 bankruptcy. If you fail the means test, you have to file for Chapter 13 bankruptcy instead. If your...

A Chapter 13 bankruptcy requires you to make monthly payments to the bankruptcy court trustee. The payments are distributed amongst the creditors involved in the case. If you find yourself in a...

As an incarcerated person you likely have watched your financial situation take a proverbial "nose dive." You need bankruptcy protection and simply cannot wait until you are released from prison....

As you contemplate filing for bankruptcy, one of your top concerns is what property can be saved in such a proceeding. Making a preliminary decision regarding the property you want to save in your...

Keeping your head above water in regard to debt may lead you to filing for a Chapter 7 bankruptcy. A Chapter 7 case is a bankruptcy that permits you the ability to discharge most of your debts. In...

As you prepare to file for bankruptcy you may wonder if you can include attorney fees in your case. If you owe attorney fees for services not associated with the particular bankruptcy case you...

Contingent liabilities are debts or liabilities that may, or may not become liable to the bankrupt in the future. Whether or not this becomes a liability is dependent, or contingent, upon another...

If you are in the midst of a bankruptcy and experience an improvement in your overall financial position, dismissing your case may be a wise course of action for you to take. Resolving your debt...

The law provides certain exemptions which ensure that, when a person files for Chapter 7 bankruptcy relief, they can keep some essential property.

Facing foreclosure is difficult. Nonetheless, the fact that your home mortgage lender is pursuing a foreclosure case against you does not mean that you are defenseless. There are a number of...

The creditor index (also known as a creditor matrix) is an attachment to a bankruptcy petition. The creditor index contains essential information pertaining to each of the debtor's individual...

In the world of debt reduction there are some terms that are not well known. This article provides definitions of some terms that relate to debt reduction and to bankruptcy.

Declaring bankruptcy is a very emotional event, having to consider what your future will hold based on your current financial situation. Individuals in this situation may have many questions to...

Bankruptcy is usually considered a last resort by individuals who are unable to pay their debts. While it should be avoided if possible, bankruptcy laws are actually designed to protect consumers...

As you prepare to file for bankruptcy, you need to understand basic procedures associated with the case. If you are like many people, included among your creditors are credit card companies....

A bankruptcy discharge is an injunction that immediately stops and further prevents creditors from collecting debt from a debtor. It is part of the relief a debtor can receive through bankruptcy....

It's important to properly evaluate the value assets for bankruptcy. First, if you're allowed certain exemptions in bankruptcy and the value of your property must be ascertained to apply those...

Two chapters of the U.S. Bankruptcy Code deal with individual consumer bankruptcy, Chapter 7 and Chapter 13. Chapter 13, specifically, is a structured repayment plan administered by the courts...

No one likes the idea of having their home foreclosed. While losing an investment is difficult, it is even more difficult to face the prospect of leaving your memories behind. There's no...

The clawback provision in bankruptcy law permits the trustee to void or undo certain types of transactions. In other words, if a debtor participates in certain transactions that transfer assets...