Bankruptcy Blog Archives

  A story published online surfaced today that JPMorgan Chase and Co. has begun to cease filing lawsuits to collect consumer debts. They are currently in the process of dismissing in-house attorneys and ceasing most of their aggressive collection activities that has been responsible for bringing millions of dollars in monthly judgments. Many are speculating [...]

Personal Bankruptcy Question This recent question was posted in 2012 on a bankruptcy forum website and asked by a blogger who was at the end of a Chapter 13: “Does anyone know what “Notice Only” means, or how I should go about being sure what all of my post-bankruptcy debts are?” The blogger also reported [...]

Over 60% of Filers Do Not Complete a Chapter 13 A Chapter 13 bankruptcy is for qualified individual debtors who have an income and are willing to commit to a payback plan on a portion or all their debts, normally for 3 or 5 years. About 1 in 3 who file a Chapter 13 completes [...]

A Chapter 7, one of six basic types of bankruptcy a debtor can qualify to file for bankruptcy relief, is covered under Title 11 of the United States Bankruptcy Code. Commonly called liquidation, a Chapter 7 is considered to be the simplest type of bankruptcy to file. Petition, Applications, and Fees You begin a Chapter [...]

This paper is first in a series on the basics of filing bankruptcy. Most of the information provided in this paper were taken from bankruptcy court government websites, and it is not intended to replace Title 11 of the United States Bankruptcy Code or the advice of a competent bankruptcy lawyer. This information is being [...]

It is already tax time again. All of you know that April 15th is the deadline for filing your 2011 income tax. What many of you facing bankruptcy should know is that there can be a different deadline for filing your tax if you have filed a Chapter 13 bankruptcy and have not yet attended [...]

If Americans use bankruptcy filings as an indicator of how the economy is faring, then there is a brighter economical future for the United States in 2012. Bankruptcy filings steadily fell across the board in the United States in 2011 and may be effecting its economy. That might be an indicator for bankruptcies and a [...]

How does a marriage separation affect your bankruptcy? If you are separated and are considering bankruptcy, you should know that the separation definitely adds additional considerations to declaring Chapter 7 and Chapter 13 bankruptcy. The first distinction that needs to be considered is whether your separation is legal.  People may claim that they are “separated” [...]

No one ever expects they are going to go bankrupt, let alone know anything about the process of filing for bankruptcy protection when they do. So, for most, the process of bankruptcy is an ongoing learning experience. It begins with searching for a lawyer and gathering information. A bankruptcy lawyer will normally provide you with [...]

Definition of Compulsive Buying Disorder Shopaholics is a slang term for Compulsive Buying Disorder (CBD). This addiction is characterized as an obsession with shopping and buying and is listed as a personality disorder under Axis II Disorders. This type of disorder can cause adverse consequences and becoming bankrupt is one of the primary results from [...]