Consumer Bankruptcy Law

Chapter 7 bankruptcy allows you to obtain a discharge of the majority of your debts. However, you may own some property with outstanding loans that you desire to keep. The Chapter 7 bankruptcy...

Whether you can keep your car in bankruptcy depends, first, on whether you file for Chapter 7 or Chapter 13. If you file for Chapter 13, you can keep your car. If you file for Chapter 7, you will...

In a Chapter 7 bankruptcy, a debtor’s assets are liquidated in order to pay off her debts. To prepare to file bankruptcy, you will need to prepare detailed paperwork that outlines your financial...

It is impossible to determine exactly what you will be able to keep after filing for bankruptcy because this is mainly dependent on the circumstances of each individual case. Consult a lawyer if...

When you file for personal bankruptcy under the United States Bankruptcy Code, there are certain types of assets that can be "exempt" from being included in your bankruptcy estate. Exempt...

When you file a petition for Chapter 13 bankruptcy, you will need to fill out a worksheet form that lists all of your property, both real and personal. This list will include your best estimate as...

Married people can elect to file bankruptcy jointly or separately. While most of the time it makes sense to file jointly, a situation may arise where only one spouse needs to file (for example, if...

When you file for bankruptcy you take on the individual responsibility to provide accurate financial numbers to the bankruptcy court. This includes the requirement that you list all of your assets...

Chapter 13 bankruptcy is a type of personal bankruptcy. It creates a repayment plan over a three- to five-year period in which plan payments are made directly to a Chapter 13 trustee via a wage...

There are two types of personal bankruptcy a debtor or joint debtors can file, a Chapter 7 or Chapter 13. Chapter 7 bankruptcy is a liquidation of a debtor's estate. The money from the estate...

In all bankruptcy cases, debtors must value their assets using official forms provided by the court. The U.S. Bankruptcy Code, in Section 522(a)(2), states that fair market value is determined on...

When you have a mountain of debt and choose bankruptcy as your way to get out of it, you are making a commitment to pay off your debt regardless of the consequences. When you have large luxury...

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...

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...

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...

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

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.

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...

During the course of a bankruptcy case, you may reach a juncture at which you desire to surrender property. The decision to surrender involves either personal property or real estate for which...

Although married spouses may file for bankruptcy jointly, there is no requirement that they do so. It's important to consider, however, how filing individually will affect your spouse. Depending...

California uses the bankruptcy forms provided by the U.S. Courts. These can be downloaded online (see Resources and References sections below) or filed electronically by a bankruptcy attorney....

Chapter 7 federal rules are detailed in the United States Bankruptcy Code, which covers the steps involved with the liquidation of the assets of individuals or entities that file for protection...

Bankruptcy is not a game. The courts take the rules very seriously and can file criminal charges if intentional fraud is committed. Even if they don't go that far, they can refuse to discharge a...

Chapter 7 bankruptcy is referred to as liquidation bankruptcy. Chapter 7 is, essentially, a fresh financial start because most of your debts are discharged and some of your property is sold to pay...

Oregon law lists the types of assets that are exempt from being sold to satisfy a court judgment against a debtor. These statutory exemptions are available to debtors who seek protection from...

Bankruptcy is a big deal. It is not a decision to be taken lightly. Unfortunately, the decision is made even more complicated by the number of falsehoods and rumors circulating about bankruptcy...

Bankruptcy is usually a difficult situation for all involved. Obviously the debtor is under a crushing burden of indebtedness, but the creditors are hurting, too--they put up their money or goods...

Bankruptcy relief may be the answer to ever-mounting debt problems in difficult economic times. Consumers and businesses can use the Bankruptcy Code to protect their assets from creditors. The...

Judgment liens are a legal instrument used to ensure that consumers pay their debts properly. When a consumer fails to pay a debt, a creditor may take that individual to court to recover the...

The Bankruptcy Schedule C form is for claiming property that is exempt according to the law. If you are filing your own bankruptcy, you need to know how to fill out a bankruptcy Schedule C to...

If you are unable to keep up with your monthly bills, bankruptcy may be a tempting option. Bankruptcy may be a reasonable solution for persons who would not be able to pay off their debts within...

Although some bankruptcy laws are governed by federal law, specific states vary on what property you are allowed to keep after you file bankruptcy. Chapter 7 bankruptcies eliminate most debts but...

When a debtor enters bankruptcy, they're usually looking for a fresh start from under an oppressive debt burden. This is possible because the court, through a trustee, evaluates the debtor's...

Chapter 7 bankruptcy essentially amounts to a liquidation of the debtor's assets to pay off debts to the fullest extent possible. But that doesn't mean you lose the shirt off your back. Federal...

Protecting money and assets during bankruptcy proceedings is difficult because you are required to report all cash, real property and personal property to the court. Consult a specialized lawyer...

Bankruptcy is a means for people debtors who have a tremendous amount of debt to get out of debt either completely or to be relieved from some portion of it. A bankruptcy stays on the debtor's...

U.S. bankruptcy law allows any debtor filing for bankruptcy to keep those assets considered necessary for a fresh start after the bankruptcy is complete. These assets are essentially exempt from...

U.S. bankruptcy law allows any debtor filing for bankruptcy to keep those assets considered necessary for a fresh start after the bankruptcy is complete. These assets are essentially exempt from...