Most individuals who seek bankruptcy protection must file under Chapter 7 or Chapter 13. Chapter 7 allows you to permanently discharge debts in exchange for the sale of certain property. With a Chapter 13 filing, you can set up new payment arrangements with your creditors, satisfying your debts over a three-to-five year period. However, if you're a … [Read more...]
Filing for Protection under Chapter 12 of the Bankruptcy Laws The Special Provisions for Family Farmers
December 13, 2018 by Leave a Comment
Should You File a Personal or a Business Bankruptcy Petition?
December 4, 2018 by Leave a Comment
Choosing the Right Filing When your business is experiencing financial difficulties, it's almost certain to have a detrimental impact on your personal finances as well. If you don't have the business resources to properly compensate yourself, you can easily fall behind on your mortgage, car payments or other obligations. The bankruptcy laws were … [Read more...]
Bankruptcy and Retirement Assets
November 30, 2018 by Leave a Comment
Can Your Retirement Assets Be Available to Creditors in a Bankruptcy Proceeding? It's no secret that medical expenses are one of the primary causes of personal bankruptcy filings in the United States. Unfortunately, as you age, your risk of health problems and substantial medical bills increases significantly. You may be edging in on retirement, … [Read more...]
Happy Thanksgiving
November 22, 2018 by Leave a Comment
Thanksgiving asks us to count our blessings. In that tally, we include not only our families and friends, but the relationships of trust and support that we have built with our clients. We appreciate the confidence you have placed in us, and we will continue to work hard to deserve that confidence. We hope that this holiday offers you the chance … [Read more...]
Bankruptcy and Inheritance
November 21, 2018 by Leave a Comment
The bankruptcy laws are in place to give individuals an opportunity to start over again, allowing you to either discharge debts permanently or restructure your obligations with creditors. You may wonder, though, what happens after the bankruptcy is over. Suppose you file for protection, eliminate certain debts and then receive notice some months … [Read more...]
Filing Multiple Bankruptcy Petitions
November 12, 2018 by Leave a Comment
What is the Impact on the Automatic Stay One of the most attractive features of the American bankruptcy laws is the automatic stay. Under this provision, once you file for protection, your creditors cannot harass you in any way in an attempt to collect payments on the debt. That includes phone calls, letters or legal action, other than through the … [Read more...]
Can You File for Bankruptcy Again?
November 1, 2018 by Leave a Comment
Your Right to File Multiple Bankruptcy Petitions It can happen to just about anyone—you have an unexpected medical emergency that's not fully covered by insurance or you lose your job and it takes a while to find a new one. That's one of the reasons we have the bankruptcy laws in place—so that you can get a fresh start. But is bankruptcy a … [Read more...]
What a Discharge in Bankruptcy Really Means
October 30, 2018 by Leave a Comment
When you seek protection under Chapter 7 of the bankruptcy laws, you can permanently "discharge" certain debts in exchange for the sale of some of your personal property. In fact, you may even be able to discharge some debt in a Chapter 13 reorganization. What is a discharge? What does it mean and what doesn't it mean? In essence, a discharge … [Read more...]
Reaffirming a Debt in a Bankruptcy Proceeding
October 29, 2018 by Leave a Comment
When you file for protection under Chapter 7 of the bankruptcy law, the court can seize non-exempt assets to sell and pay off your creditors. However, if you have personal property not covered by the exemptions, and you want to protect that property, you can choose to "reaffirm" the debt on that property. What Is Reaffirmation of a Debt? In its … [Read more...]
