Bankruptcy Blog

If you have filed for bankruptcy or you have done research inquiring about bankruptcy, you probably have some idea about what a trustee is and what his duties and his role in your bankruptcy. If not, this post will give you a brief explanation. A trustee will administer the affairs of an individual who […]

After you have filed your bankruptcy case or your attorney has filed on your behalf, you will be required to attend a 341 meeting of creditors. The meeting is cleverly called a 341 meeting because that is the section number of the federal bankruptcy code, 11 U.S.C. section 341. Within a reasonable time after filing […]

The automatic stay takes effect upon filing of your bankruptcy case. The stay acts as an injunction from most all types of creditor collections efforts. The automatic stay protects the debtor’s property from creditors.
There are numerous actions a creditor could take that would violate the automatic stay and subject that creditor to penalties for the […]

In order to file under chapter 13 of the bankruptcy code a debtor must meet certain requirements.
1. A debtor must reside or have a domicile in the United States; and
2. A debtor must be an individual. Which simply means you cannot be a corporation, partnership or some other entity; and
3. A debtor must […]

There are several different chapters under federal law in which to file bankruptcy. Chapter 7 and chapter 13 are the most common filings for an individual debtor. Chapter 11 primarily involves business bankruptcy. A consumer may file under chapter 11 but individuals tend not to file under this chapter because it is much more complex […]

Bankruptcy provides relief from many types of debts, namely unsecured debt in any form. There are several types of debt that will not get discharged as easily as unsecured debt. One example of debt that is not dischargeable is student loan debt.
The general rule is that student loans will not get discharged in your […]

When talking about bankruptcy, it is impossible to go through a conversation without mentioning secured and unsecured debt. Attorneys and people who are familiar with bankruptcy use these words and treat them as ordinary words. Although for those of you who are not bankruptcy experts this will clear up any misunderstanding you may have involving […]

The whole idea behind filing bankruptcy is to give you a fresh start. Just imagine life without credit card debt, high medical bills, and various other financial obligations. That is what life will be like after you have been discharged from your bankruptcy. The “fresh start” is the goal of […]

I have people ask me this question all the time. “How do I know if I should file for bankruptcy?” I wish there was an easy answer. Unfortunately there is no easy answer. There are many reasons people file for bankruptcy. While some reasons are common for a lot of […]