Bankruptcy

Nearly 1.5 million American declared bankruptcy in 2009, according to Reuters. Bankruptcy is stigmatized in the United States and carries with it many negative effects. For people and businesses...

Under the bankruptcy code, there are several distinct classes of debts. One such class of debts is non-priority unsecured claims. It is important to know how to distinguish these from other types...

When filing for Chapter 13 bankruptcy, you will need to include in your petition a detailed list of your income and expenditures, which are represented by Schedules I and J. The purpose of filing...

Converting a Chapter 11 bankruptcy to a Chapter 7 filing may be a debtor's only alternative if his reorganization plan is not approved or if there are other circumstances that require conversion....

A Chapter 11 bankruptcy is often referred to as a "reorganization" bankruptcy and may be used by individuals or businesses who find themselves in financial trouble. Part of the Chapter 11 filing...

Bankruptcy is understandably often a confusing and stressful time for many people. Assets, income or other creditors are sometimes overlooked. Amending a Chapter 7 (liquidation) bankruptcy...

Are you looking to get a bad credit loan? It is possible to find a loan even though your credit is bruised. You may be able to qualify for a credit card or other type of loan.

If you're planning to file for Chapter 13 bankruptcy, part of your petition must include a detailed plan for repaying your debts. Repayment typically occurs over a three- to five-year period and...

Having bad credit limits your loan options. Bad credit means that you'll have higher interest rates, lower loan amounts and limited financing options. However, it is possible to get a loan even...

No payments to pay and have all of your debts erased sounds like the best deal for anybody. Taht's what some people believe will happen if they file a Chapter 7 Bankruptcy. It's really not that...

When someone files for Chapter 7 bankruptcy, this is a legal request to have eligible debts permanently forgiven. However, most student loans cannot be included in a Chapter 7 case.

If you meet the qualifications to file a Chapter 13 bankruptcy, the bankruptcy court in your district will review your income and assets in order to structure a repayment plan for your debts. The...

A Chapter 7 bankruptcy allows you to repay as much of your outstanding debt as possible by permitting the bankruptcy court to liquidate your assets and distribute the proceeds to your creditors....

There is technically no such thing as a partial bankruptcy. If you file for bankruptcy, you must include all of the debts that you currently have. Some use the term "partial bankruptcy" to denote...

Stop Using Your Credit Card Against You

How to deal with credit cards

With the current economic conditions, we could all use some tips on what and what not to do when it comes to credit cards and credit scores. We all know that late payments can dent your credit...

Chapter 7 bankruptcy is a form of personal bankruptcy available to consumers with limited assets and income. A Chapter 7 bankruptcy is often referred to as a "liquidation" bankruptcy due to the...

Personal bankruptcy is not something you should take lightly. However, after you've looked at the bankruptcy alternatives, bankruptcy may be the only option for you.

When you file for a Chapter 13 bankruptcy, you will be required to adhere to a repayment plan that will last anywhere from three to five years. During this time you will be expected to make...

A new law enacted in 2005 places strict limits on debtors who apply for bankruptcy. Debtors who previously filed bankruptcy must wait six to eight years before filing again. The waiting period...

When you file for bankruptcy, the United States Bankruptcy Court generates several different types of letters. You may also need to draft some of your own letters once your bankruptcy case is...

Chapter 7 is the most common form of bankruptcy in the country. The debtor can be an individual or business. Under Chapter 7, the assets of an individual or business are sold to pay off creditors....

A Chapter 13 bankruptcy filing can allow you to avoid the loss of your home through foreclosure. Under Chapter 13 bankruptcy, you are able to restructure your mortgage debt and bring delinquent...

State Governments provide unemployment benefits for people who have found themselves unemployed after a period of employment. The federal government provides a website that will direct you to...

You can find a bankruptcy attorney, whether you need a small business bankruptcy or a personal bankruptcy. Read on to find out where to find a bankruptcy attorney.

A Chapter 13 bankruptcy enables individual debtors to restructure and repay their outstanding debts over a three- to five-year period. Several factors are used to determine eligibility for filing...

If you're facing the possibility of losing your home and want to avoid foreclosure, filing for Chapter 7 bankruptcy protection may be your best alternative. Filing for Chapter 7 essentially halts...

When you file a petition with the court for Chapter 13 bankruptcy you will be put on a payment plan. Once you complete the plan you will be debt free. You may not be required to repay your entire...

When you file a petition for Chapter 7 bankruptcy, certain items are exempt, meaning they are not included in the bankruptcy estate. The exemptions are designed to help give you a fresh start...

As part of your Chapter 11 or Chapter 13 bankruptcy filing, you are subject to confirmation, wherein the court approves your debt repayment plan. If your confirmation is denied, there are steps...

Sometimes people find themselves facing debt they are unable to pay off. In that case they may want to hire a bankruptcy lawyer. A lawyer is vitally essentially during the bankruptcy process in...

Personal bankruptcy is one method of debt relief sought by people who cannot pay their bills and need a court-ordered solution to get free of their debt burden. Under Chapter 7 of the bankruptcy...

Chapter 13 is a form of bankruptcy you can file. This type is commonly referred to as a wage earner's plan. You must have a regular income to participate. When Chapter 13 bankruptcy is filed,...

Filing for bankruptcy is not a decision made lightly. Once you have determined that bankruptcy is your only recourse, you need certain pieces of information to get debt relief. Whether you are...

Chapter 7 is a type of personal bankruptcy under the United States Bankruptcy Code. In a Chapter 7 bankruptcy, an estate is essentially liquidated by a Chapter 7 trustee. The trustee sells off...

A bankruptcy court may dismiss a bankruptcy case due to the debtor's abuse of process, failure to comply with court rules or submitting inaccurate paperwork. While it may seem logical that the...

Filing bankruptcy is usually a difficult decision, whether you choose to seek forgiveness of most debts through Chapter 7 or restructure existing debt payments in a Chapter 13 case. There are some...

It is scary having to file bankruptcy for your credit card debt, and defaulting on payments. It can be even scarier when creditors call and threaten you with jail time, but is there any validity...

Although filing for Chapter 13 bankruptcy may grant you a fresh start with your debts, circumstances beyond your control or poor debt management skills may result in the need to file bankruptcy...

If you have taken on entirely too much debt and find yourself unable to manage it, you may consider filing for bankruptcy. A personal bankruptcy may be filed under either Chapter 7 or Chapter 13...

You may add on debt after you file for bankruptcy, but if the judge deciding your bankruptcy ruling discovers it, your filing will be denied. Applying for more debts after you have filed for...

Bankruptcy is the process by which a consumer relieves himself of overwhelming consumer, secured, and sometimes, government debts. The two most common forms of bankruptcy are Chapter 7 and Chapter...

The U.S. bankruptcy laws include several different chapters to address many different situations. The one most commonly referred to when someone files for bankruptcy as an individual is a chapter...

More than 100,000 Americans filed for bankruptcy from 2008-2009, according to the American Bankruptcy Institute. Nearly 60 percent are Chapter 7 total insolvency cases, where the debtor isn't...

Bankruptcy reform laws passed in 2005 have made it nearly impossible to discharge federal student loans in bankruptcy proceeds, according to the U.S. Bankruptcy Court. Some exceptions may apply to...

The two types of personal bankruptcy under the United States Bankruptcy Code, Chapters 7 and 13, both end when the case is closed. If it is has been successful, all debts included under the...

Any time an individual files for bankruptcy, that bankruptcy becomes a part of the public record. As such, the case details of the bankruptcy are viewable by anyone who chooses to research it. ...

Once you file for bankruptcy, your credit score can be damaged significantly. According to creditcards.com, your credit score can be lowered anywhere from 130 to 240 points. To rebuild your...