Blog Category: Filing bankruptcy


What Happens After You File Bankruptcy

What Happens After You File Bankruptcy

After you file your bankruptcy paperwork, you may wonder what happens next. As soon as you submit your petition with the court, the first action is the automatic stay goes into effect. Automatic Stay The automatic stay stops all collections attempts from being taken against you. All phone calls and letters must stop. If a  … Read more

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Fresh Start With Bankruptcy

Fresh Start With Bankruptcy

For people who are struggling with their debt, filing bankruptcy can give them a fresh financial start. If you have no hope of paying back everything you owe, you might want to consider talking to a bankruptcy attorney. Automatic Stay As soon as you file your bankruptcy paperwork, an automatic stay goes into effect. This  … Read more

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Confirmation of Plan in Bankruptcy

Confirmation of Plan in Bankruptcy

Chapter 13 bankruptcy is for reorganizing your debt without losing any of your property. A payment plan will be worked out to repay any past debt while continuing to pay your current bills. When you file Chapter 13 bankruptcy, the court will hold a confirmation hearing. The hearing is where the court decides to confirm  … Read more

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Proof of Claims in Bankruptcy

Proof of Claims in Bankruptcy

A proof of claim is a document filed in the United States bankruptcy court. The document is to register a claim against the assets of the debtors. The claim will list the amount owed as of the date of the bankruptcy and if relevant, any priority status. All creditors that wish to get paid must  … Read more

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What is the meeting of the creditors in Bankruptcy

What is the meeting of the creditors in Bankruptcy

The meeting of the creditors, also called the 341 meeting since it is the chapter in the bankruptcy code, is a mandatory meeting required of all debtors that file bankruptcy. Typically, the meeting is scheduled approximately 30 days after you submit your paperwork. The meeting is informal, taking about 10 minutes and there is no  … Read more

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Getting Help With Your Bankruptcy

Getting Help With Your Bankruptcy

Legally, you can file bankruptcy on your own. You can fill out the paperwork, file it with the clerk and represent yourself with the trustee, your creditors, and the bankruptcy judge. The question is, should you? You could spend hours combing over all the information you can find about how to fill out your forms  … Read more

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What Can I Keep During Bankruptcy?

What Can I Keep During Bankruptcy?

Often the first thing people wonder when they are thinking about filing bankruptcy is how much of their stuff they will have to give up. Keeping Assets In most cases, you will be able to keep your most essential assets such as your home, vehicle, furniture and personal property. Very often debtors who file bankruptcy  … Read more

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When a General Contractor Files for Bankruptcy

When a General Contractor Files for Bankruptcy

Bankruptcy is a tool used to help eliminate troublesome debt, however, what happens if you are on the creditor side it can be distressing. While many individuals do not ever believe this will happen to them, it happens quite often every day when individuals pay a large down payment to a general contractor for work  … Read more

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The Purpose of Bankruptcy

The Purpose of Bankruptcy

When some people think of bankruptcy, they think of dishonest people who rang up a bunch of bills and then don’t want to pay for them. Or that people lived foolishly and now are stuck with the fallout of too much debt. The Truth About Bankruptcy The reason we have the bankruptcy laws is to  … Read more

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Choosing Between Chapter 7 and Chapter 13 Bankruptcy

Choosing Between Chapter 7 and Chapter 13 Bankruptcy

You have two options when filing personal bankruptcy, Chapter 7 or Chapter 13, named for the codes in the bankruptcy law they represent. Businesses and farmers have different types of bankruptcy rules. Chapter 7 Chapter 7 is the most basic form of bankruptcy. It allows you to eliminate or “discharge” certain debt. When you have  … Read more

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