Blog Category: Filing bankruptcy

Many times people that are forced into seeking bankruptcy protection due to an overload of personal or business debt have at least some equity in the family home. Home Equity refers to the difference in what you owe on a loan for your home and what the value of the home is. What happens to this when  … Read more

Most bankruptcy blogs will tell you very clearly exactly what debts are covered when you finally decide to seek protection through bankruptcy. Very few however will discuss exactly what debts may not be. Unfortunately, there are several types of debts that do not fall under the category that will be discharged even if your bankruptcy  … Read more

For many the action of filing for bankruptcy is intrusive enough, and the hoops that must be jumped through and paperwork completed seem endless and exceptionally frustrating. To be told at the end that you are not yet free of the shackles of the system and must also complete a Debtor Education Course before you  … Read more

With the exceptionally high cost of vacation properties in the past decade, many people have turned to partial ownership of vacation properties. These are commonly known as timeshares and they allow an individual or family to “own” a certain number of weeks in the year at a vacation property of their choosing. A common question  … Read more

When the possibility of having to seek bankruptcy protection becomes a reality for some individuals, the first thought is to figure out a way saving some of the assets that they have accumulated over the course of time. The want to protect your assets in bankruptcy is a natural feeling; however without the assistance of  … Read more

For a large portion of society, the thought of having to seek protection by filing for bankruptcy is something that happens to the other guy and could never happen to me or to us if a couple. It is the guy who lives the largest life who is the one at risk of overextending themselves,  … Read more

Bankruptcy proceedings, like many things that are misunderstood, are replete with myths and urban legends that are simply figments of someone’s over active imaginations, yet have gained a strong hold in the folklore surrounding the subject. One of the most common myths holds that if you are going to go bankrupt you can go on  … Read more

For most citizens the thought of going bankrupt is a scary and unknown area that conjures up thoughts of having all your possessions seized by the courts and liquidated to appease the creditors waiting in the wings with gleefully maniacal smiles and hands rubbing together in anticipation. The flip side is the people who believe  … Read more

After much debate and soul searching, you have decided that the only way to move forward in your failing business is to seek protection through bankruptcy. What debts have you incurred while trying to keep the business afloat are actually eligible for discharge through bankruptcy? The long answers is that it depends. If you choose  … Read more

Many people are under the assumption that once you decide to go bankrupt that all that is left to do is to go and see a bankruptcy attorney or trustee and begin the proceedings. While it is certainly true that you will need to seek the advice of an attorney and will need a trustee  … Read more