Bankruptcy Law

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...

Becoming a bankruptcy petition preparer allows you the ability to provide certain types of services to debtors. Petitions and related documents associated with bankruptcy cases--both consumer and...

Each person who files for bankruptcy may amend schedules and clarify errors. Before the entry of a final order, court permission is not required. After a final order, a court may permit...

A Chapter 13 bankruptcy is a repayment plan for your debts. The bankruptcy trustee, the court official who is responsible for hearing your case, will approve the length of time your repayment plan...

Considering filing for bankruptcy raises a number of questions. For example, if you have a judgment against you in a civil case you might wonder how a bankruptcy will affect that debt. Before...

One of the most important elements of a bankruptcy case is the bankruptcy or creditors' meeting. The bankruptcy meeting is the one point in your case at which you are asked to participate...

Filing bankruptcy automatically invokes the stay of proceedings described in Section 362 of the U.S. Bankruptcy Code. The stay is similar to an injunction, and applies in all cases filed under all...

As the owner or representative of a business in financial trouble, you need to understand the basic differences between a Chapter 7 and a Chapter 11 bankruptcy. In order to select the best course...

As a creditor, you may initiate Chapter 7 or Chapter 11 bankruptcy proceedings on behalf of your debtor by filing an involuntary petition with the court. Creditors generally choose to do so when a...

Operating a Limited Liability Company (LLC) is challenging. You may be at a juncture where it is necessary for you to file for bankruptcy for your LLC. Because of the nature of a LLC, bankruptcy...

When you've reached the point when you can't pay your debts, filing for bankruptcy can be an option. There are two types of bankruptcy available to consumers. A Chapter 13 bankruptcy allows you to...

As part of preparing to file for bankruptcy, understanding the structure of bankruptcy courts is helpful. By appreciating the manner in which bankruptcy courts are structured, you obtain a clearer...

The decision to pursue a bankruptcy is serious and cannot be made lightly. Before you make a final decision to file a bankruptcy case, consider obtaining information from different resources....

A common concern of a person contemplating a bankruptcy involves the issue of discharging judgments from lawsuits.

The ultimate goal of a Chapter 7 bankruptcy is to obtain what is known as a discharge of your debts. A discharge relieves the obligation to repay your creditors. There are some limitations on...

As creditor with a debtor in bankruptcy, you must take all necessary steps to protect your interests. You need to understand the elements of bankruptcy law pertaining to creditors, including how...

Chapter 7 of Title 11 of the U.S. Code, colloquially known as "Chapter 7," is a method of declaring bankruptcy for individual debtors. It requires the liquidation of assets to raise the funds to...

As a United States resident living abroad, you may be facing the prospect of seeking bankruptcy protection and relief. Although not the easiest task in the world, you are able to file for...

Battling ever-mounting debt is a challenging and often frustrating task for both individuals and business enterprises. If you are dealing with this problem in your business, you may be wondering...

A multitude of challenges are associated with self employment. The most significant is maintaining a strong revenue stream and satisfying debt obligations. Despite your very best efforts, you may...

It's easy to get bogged down in debt and find yourself overwhelmed trying to keep up payments to credit cards, mortgages, car and appliances, such as washers and dryers. If it gets to the point...

Life after a Chapter 7 bankruptcy can be difficult, but how do you get rid of it? You can't, but there are some things you can do to make it seem less important to a potential creditor.

As is the case across the United States, Kansans from different walks of life face debt related issues and problems. If your debt is overwhelming and you no longer are able to meet your obligation...

It's hard to imagine losing your house. The time invested in making it a home, the memories of celebrations and holidays. It's so hard on the kids too; leaving friends and moving to a new school....

If you are contemplating pursuing a bankruptcy case, you may wonder what resources are available to you to help with filing bankruptcy. Although you legally can file a bankruptcy on your own,...

Having made the decision to file for bankruptcy, you need to ensure that all your creditors are named in the case. As part of the process of preparing your bankruptcy petition, you create a matrix...

If you are considering filing bankruptcy due to overwhelming unsecured debt that you can no longer manage, having a competent bankruptcy attorney is essential. If you live in NJ you will have no...

Often, revenues from businesses are not enough to keep the personal finances of many business owners afloat and they are forced to file for bankruptcy protection. What happens to your business if...

The best way to deal with a wage garnishment is to negotiate a payment agreement with the party you owe money. However, this is not always possible and sometimes a writ of garnishment is filed...

If you are living overseas but remain a citizen of the United States, you still can take advantage of the protections of the U.S. Bankruptcy Court. There are specific procedures that you need to...

If you made the decision to file for bankruptcy, you may be wondering whether you can pursue such a case independently and without the aid of an attorney. The fact is, you are able to pursue a...

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...

Chapter 13, also known as Chapter 13 Wage Earner Plan, allows people to pay debts over time while keeping their property, according to U.S. Courts. Even during foreclosures, people can stop such...

If you have been thinking about filing for bankruptcy protection as a way to obtain a fresh financial start, you may be wondering if you should file for Chapter 7 or Chapter 13 bankruptcy...

Chapter 13 bankruptcy permits you the ability to pay off your debts over a period of time. Rather than a discharge or liquidation of your debts, the bankruptcy court develops a payment plan so...

Many people have questions about how to deal with their debt. Among this group are men and women seeking basic information about bankruptcy. Explaining bankruptcy does not have to be a confusing...

If you are owed money by an individual or a business that filed for bankruptcy, then you need to understand the basics of preparing and filing a proof of claim. A proof of claim is the document...

A bankruptcy entry on the public records section of your credit file will severely impact your ability to obtain credit for up to 10 years. You will find it difficult to finance the purchase of an...

For homeowners facing possible foreclosure, it is sometimes possible to stay in the home, and reduce monthly costs, by deeding the house to the bank, and renting it back from them. This rent-back...

Bankruptcy or insolvency as it is known otherwise is basically a legal declaration of the inability to pay off the debts. Precisely a legal option, bankruptcy offers the debtors an option to give...

Under United States Bankruptcy Code 503, you as the creditor have the right to file an administrative claim on unsecured debts included in Chapter 7 or Chapter 13 bankruptcy cases. This allows for...

If you have found yourself overwhelmed by debt you may want to consider these steps before you file for bankruptcy. The process of filing for bankruptcy can be a stressful and difficult one. To...

Many homeowners have recently found themselves in a very difficult financial situation. High unemployment, decreased home property values and losses in stock market accounts have forced many...

When you decide to file for bankruptcy, you will have to decide what "chapter" of bankruptcy to file under. Individual debtors---meaning people, not businesses---can decide between Chapter 7 and...

Processing a chapter 7 can take less time than expected usually everything is done in one month. It's a very fast process. The process starts with a few simple decision making moves. Deciding...

Finding a good Bankruptcy Lawyer can be a fairly easy task. When you find yourself in the difficult situation as to whether you need to file bankruptcy, it can be an emotionally draining decision...

Filing a bankruptcy petition should include all creditors, both secured and unsecured. If one or more creditors were left out of the listing by mistake or by design, adding more debts may or may...