Category Archives: Bankruptcy Process

Taking a Closer Look at the Process of Bankruptcy

Many laymen do not realize that filing bankruptcy is a process that can take years to complete, depending on the type of bankruptcy filed. This article takes a closer look at the process of bankruptcy. Continue reading

Understanding the Concept of the Confirmation Process in Bankruptcy

A confirmation in bankruptcy is a bankruptcy judge’s approval of a plan of reorganization or liquidation in certain types of bankruptcies. This article has been written to help the layman better understand the concept of the confirmation process found in bankruptcy. Continue reading

Understanding the Significance of a Lien in Bankruptcy

In general legal terms, a lien is the right to take and hold or sell the property of a debtor as security or payment for a debt or duty. A lien acts as collateral when a debtor must borrow money from a lending institution to pay for personal property. A lending contract is made between the creditor and debtor and payments are arranged to be made over time that might include interest, penalties, and fees in addition to the principal. The legal rights of liens are governed primarily by state laws, but since filing bankruptcy is a federal matter governed by federal laws, a debtor wanting to file bankruptcy should understand the significance of a lien in relationship to the bankruptcy process. Continue reading

Transfer of Property Often Confusing in Bankruptcy Process

English: Stately residence commissioned in 180...

A transfer of property of a stately residence in the late 1800s, first by a wealthy businessman who was facing bankruptcy to the Governor of Vermont, and then the Governor transferred it to the University of Vermont, who still owns it today. (Photo credit: Wikipedia)

In a general sense, the U.S. Courts website defines the transfer of property as “any mode or means by which a debtor disposes of or parts with his/her property.” The term can often be very confusing, especially to laymen during the bankruptcy process. Continue reading

Free Consults with Bankruptcy Attorneys

Lets face it. When most people finally face the reality they are bankrupt, they are at the place where it can be very hard for them to pay for the help they need to get out of their financial predicament. Most bankruptcy attorneys understand their financial condition, and are willing to provide a free consultation in order to determine whether or not they are in a position to help the debtor. This article is about what some of you may need to know before you embark in free consults with bankruptcy attorneys.

American Bankruptcy Institute Law Review

Finding a Bankruptcy Attorney (Photo credit: Wikipedia)

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Picking Bankruptcy Lawyer Similar to Picking Winner in Horse Race

The Lawyer

I like a good horse race and I am a fairly good handicapper at the races. I write legal content for bankruptcy lawyers, and after hearing concerns from potential clients on a bankruptcy forum website about their fears on choosing a bankruptcy lawyer, I am beginning to think picking a bankruptcy lawyer is similar in a lot of ways as picking a winner in a horse race. Ideally, you certainly want to pick a winner. After all, filing for bankruptcy protection and being successful may be a little more important than betting on a horse and being successful. Continue reading

Bankruptcy Success After a Successful Bankruptcy

20090113 bankruptcy-01

20090113 bankruptcy-01 (Photo credit: Wikipedia)

After filing a successful bankruptcy, the promise of a fresh new financial beginning goes right along with the spirit of the season. Thanksgiving season is officially over after the kickoff of “Black Friday,” and after the nation has given thanks for what little blessings has occurred this past year. The nation can now look forward to more thanks because of the robust economy it is now beginning to enjoy. Continue reading