Blog Category: Filing bankruptcy

Besides eliminating your qualifying debt, a benefit you get from filing bankruptcy is the automatic stay. This court order goes into effect as soon as your file your petition with the court. The automatic stay stops all collection attempts against you. Creditors must go through the bankruptcy court regarding any debt that you owe. How  … Read more

Filing bankruptcy can do more than just relieve you of debt, it also has other benefits involved. Most people are aware that bankruptcy can solve most of your financial problems by eliminating all of your qualifyings debt, such as: Credit card Medical debt Utility bills Old taxes Some student loans Personal loans Payday loans Chapter  … Read more

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

Filing bankruptcy can be a difficult financial and emotional issue. People don’t want to admit their debt is out of control. Sometimes they feel like they have failed to meet their responsibilities, and they wait as long as they can before filing bankruptcy and getting debt relief.  Credit Card Debt According to CNBC news, American  … Read more

It is rarely a good idea to seek the services of for-profit debt counseling. People who are in dire financial situations are easy prey for those that offer credit repair or debt counseling. It is common practice in some debt counseling services to scam the customer or offer high-interest rate consolidation loans as a way  … Read more

You can legally take action to improve your status before filing bankruptcy. This is usually called exemption planning by arranging your assets to claim the maximum amount of exemptions in bankruptcy. The goal of this type of planning is to lose the smallest amount of property to your creditors.  Transfer Property If you transfer large  … Read more

If you are at the immediate risk of losing your home either to foreclosure or eviction, your car about to be repossessed, or your utility shut off, you may want to consider filing an emergency bankruptcy. You can submit your bankruptcy petition with just a few minutes of preparation.  Automatic Stay When you file your  … Read more

If you have gotten behind in your payments and your debt is getting larger with late fees and penalties, you may want to consider filing bankruptcy. If you are starting to get warning letters of pending legal action regarding your debt, talking to a bankruptcy attorney is a significant step to protect your assets.  Notice  … Read more

Anyone that lives or has a property in the United States has the right to file bankruptcy. Some things that may prevent you from getting a discharge are: If you abuse the bankruptcy system or conduct fraud to get out of paying your debt If you have substantial income that you could pay your creditors  … Read more

Anyone can be a bankruptcy paperwork preparer, there is no experience or training required. Having a criminal background also does not stop you from being a bankruptcy petition preparer (BPP). Regulations To regulate the BPP the U.S. Trustees office will review all bankruptcy petitions prepared by a BPP. The preparer must include their name, address,  … Read more