Bankruptcy Blog Archives

Many first time bankruptcy filers ask this question, “If you do not have the money, can you include legal costs in a bankruptcy?” The answer to the question is that it all depends on the type of bankruptcy you file, the bankruptcy court, and your lawyer. The type of bankruptcy you file might influence legal [...]

This personal bankruptcy story was posted on the internet in 2011 in a bankruptcy discussion: “I fell behind on a car loan and credit cards. I lost my job,and became paralyzed due to a medical issue and recently got divorced. I’m in the middle of trying to get a loan modification on my house that [...]

If you have more debt than you can afford to pay, you may be evaluating if bankruptcy is an option you should pursue to alleviate the debt burden you are dealing with.  After all, you have likely seen in the news various reports on the economic difficulties that many are experiencing and how bankruptcies are [...]

If you are evaluating if bankruptcy is an option you need to consider to address your debt, you need to understand that all debt is not created equally when it comes to bankruptcy.  Depending on the types of your debt, the age of your debt, the state you live in, and the type of bankruptcy [...]

This personal bankruptcy question was posted on the internet in 2011 in a bankruptcy discussion: “If I file for bankruptcy and I have a piece of land that is paid for will I have to sell it?” There are basically two types of bankruptcies most individuals can file: Chapter 7 and Chapter 13 Bankruptcy. Chapter [...]

Bankruptcy exemptions, created by both federal and state bankruptcy laws, determine what property is exempt in the bankruptcy process.  Exempt property can vary from state to state, although some states let the debtor decide if they want to use the federal bankruptcy exemptions or their state’s exemptions. Other states require the filer to use the [...]

What happens if a debtor fails the means test? If you are considering declaring bankruptcy or have reached the point where you are going to declare bankruptcy, you may be wondering what type of bankruptcy is appropriate for you.  There are two main types of bankruptcies for individuals: Chapter 7 and Chapter 13.  The type [...]

Is it time to file bankruptcy? You like many Americans may be feeling the financial repercussions of the downturn in the economy.  While the expense of day-to-day living goes up, even those who are employed may feel like they are falling further behind because their salary increases, if any, are not keeping pace with their [...]

If you have been injured on the job, you may be in line to file a workers’ compensation claim.  This claim is a benefit that is designed to replace lost income while you recover from your injury, as well as to pay medical costs related to treatment of your injury.  But what if a bankruptcy [...]

Filing Chapter 7 Bankruptcy After you file for Chapter 7 Bankruptcy, a court-appointed trustee gathers your assets, which are not exempt, and this property is now considered part of the “bankruptcy estate.” The idea behind Chapter 7 Bankruptcy is that the court will sell your assets, repay your creditors and grant a discharge of your [...]