Bankruptcy Abuse and Prevention Act

Bankruptcy Abuse and Prevention Act

The Bankruptcy Abuse and Prevention Act was a bill enacted in 2005 and lobbied heavily by the credit card companies. While the credit industry did not get everything they asked for, they did get a lot of changes made to the Bankruptcy Code, making it more difficult and costly for individuals to file bankruptcy. Added  … Read more

  Filed under: News


Hiring a Bankruptcy Attorney

Hiring a Bankruptcy Attorney

When you are overwhelmed in debt, the thought of paying for a bankruptcy lawyer and court fees can seem frustrating. Bankruptcy court fees vary by state, and they type of bankruptcy you are filing. The more paperwork for the clerk to process, the higher the cost. Attorney fees are basically the same way, the more  … Read more

  Filed under: Bankruptcy Attorney


Chapter 13 Bankruptcy Process

Chapter 13 Bankruptcy Process

If you are behind in your home or other secured property payments and worry you may be facing foreclosure, Chapter 13 bankruptcy may be your financial solution. Chapter 13 involves a court-approved repayment plan allowing you time to catch up on your arrears without losing your home or other assets. You must have a reliable  … Read more

  Filed under: Chapter 13


Chapter 7 Bankruptcy Process

Chapter 7 Bankruptcy Process

If you have the choice on which chapter of the bankruptcy code for personal bankruptcy, most people would choose Chapter 7. Chapter 7 is the quickest and easiest form of bankruptcy. You can have the entire process over in three to six months and come out the other side with all of your qualifying debt  … Read more

  Filed under: Chapter 7


Taxes and Bankruptcy

Taxes and Bankruptcy

If you have back taxes yet to be paid and you are overwhelmed in debt, you may want to file bankruptcy to eliminate those taxes. Specific rules apply, but if your taxes are at least three years old, you may be able to discharge that debt. If the date of your tax return is less  … Read more

  Filed under: Taxes


Student Loans and Bankruptcy

Student Loans and Bankruptcy

Most courts are reluctant to eliminate student loans in bankruptcy. You have to prove that you are unable to work and have no prospects of getting a job due to a disability. Congress has made it difficult to discharge student loans. You must prove an “undue hardship” by paying it back. The bankruptcy judge will  … Read more

  Filed under: Loans


Retirement Accounts and Bankruptcy

Retirement Accounts and Bankruptcy

When you get behind in your debt, by either losing your job, cut back in hours or significant unexpected expenses, you may worry about losing your retirement account to your creditors.  Cashing in Your Account One option you may think of is cashing in your retirement account to catch up on your debt. If you  … Read more

  Filed under: Debt


Bankruptcy After Trying Other Alternatives

Bankruptcy After Trying Other Alternatives

When consumers find themselves overwhelmed in debt, they might start looking for ways to get a handle on their finances. If you have tried other avenues and have been unsuccessful, you may want to consider bankruptcy to get a fresh start and a better financial future. Talking to your Creditor Speaking with your creditors can  … Read more

  Filed under: Filing bankruptcy


Myth: Bankruptcy is for Broke People

Myth: Bankruptcy is for Broke People

A popular misconception about bankruptcy is that you must be flat broke, nothing left, and no hope to file bankruptcy. Or that if you do file bankruptcy, the court will take all you own and leave you broke, homeless, and with no possessions. Both of these myths couldn’t be farther from the truth. Bankruptcy is  … Read more

  Filed under: bankruptcy