bankruptcy blog

While Chapter 7 and Chapter 13 bankruptcies are most certainly not the taxpayer’s responsibilities, what about the large, international companies that go bankruptcy under Chapter 11 bankruptcy law? Do taxpayers pay for bankruptcies in this category? This is a legitimate question in the wake of the massive bankruptcies that have taken place over the past  … Read more

While bankruptcy doesn’t initially seem like the topic that would involve “tips, just like any other section of the law, there are certain pitfalls that could have unintended consequences. Today we’ll look at how you can avoid these by following a few pointers when deciding to declare bankruptcy. Let’s review these Houston Texas Bankruptcy Tips:  … Read more

Chapter 11 bankruptcies are a form of bankruptcy specifically reserved for high net worth individuals and companies. In a Chapter 11, the corporation or partnership is allowed to present a plan of reorganization that allows the company to stay up and running while modifying the payment to creditors. Just about daily, a company somewhere in  … Read more

Donald Trump running for the most coveted position in world politics; it’s not much of a surprise that his entire business life has come to the public spot light. In digging up his past business dealings, past bankruptcies have emerged leading us to the question: how many times has Donald Trump filed bankruptcy exactly? The  … Read more

Many individuals believe that bankruptcy will ruin your credit. While your credit will take a hit once you file for bankruptcy, one must examine their financial situation and determine what is worse: taking a moderate decline in credit in order to reset their debts or to continue to suffer credit blemishes as a result of  … Read more

By filing bankruptcy, a discharge of debts is the overall goal in most cases. A discharge of debts in bankruptcy varies within the different chapters of 7, 11, and 13, but the end result is the release of personal liability for certain types of debts. A bankruptcy discharge is a permanent order eliminating the debt  … Read more

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

In many Chapter 7 bankruptcy proceedings the debtor will be allowed to keep a wide variety of things that are exempt from the proceedings. These include but are not limited to clothing and household furnishings and in some cases certain jewelry including the family wedding ring set if there is one. Another exemption that has  … Read more

In the vast majority of bankruptcy blogs you typically hear talk of the most common bankruptcies. The ones that most people will find themselves involved in if they ever have to face the need for bankruptcy protection are the Chapter 7 and the Chapter 13. Much has been said and written about these two types.  … 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