Bankruptcy Blog Archives

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 [...]

The Exemption Process When you file a Chapter 7 bankruptcy, you must fill out a schedule listing the exemptions you are claiming. Bankruptcy exemptions involve assets you own that receive immunity from the bankruptcy process through state or federal law, but you must list them for the bankruptcy court trustee to review. If your asset [...]

Question Raised in Personal Bankruptcy Story This personal bankruptcy story was shared in January 2012 by a blogger on a bankruptcy forum site: “I filed Chapter 13 in July 2011, confirmed November 2011. 1st mortgage and HELOC (interest only) are current and paying outside of bankruptcy. Will we ever be able to refinance our mortgages [...]

When you enter into bankruptcy, whether it is a Chapter 7 bankruptcy for the discharge of debt or a Chapter 13 bankruptcy  for debt reorganization, you are required as a part of the filing process to provide a list of all your assets and liabilities. For Chapter 7 bankruptcy, the bankruptcy court uses the list [...]

Here are my 2012 predictions on what will happen to the economy that might affect bankruptcies for the New Year. With this list of predictions and about $4.00, you can buy a decent cup of coffee in a lot of the places near where you live in the United States. Bankruptcy Prediction #1 Individual bankruptcies [...]

Chapter 13 bankruptcy is one of the two common types of bankruptcy used by individuals.  Unlike Chapter 7 bankruptcy that can eliminate an individual’s debt altogether, Chapter 13 bankruptcy is a debt reorganization and debt consolidation plan. Debt consolidation as a part of a Chapter 13 bankruptcy means that you will submit to a bankruptcy [...]

Anyone who has ever faced bankruptcy knows what a learning curve they experience when they first decide to file for bankruptcy protection. Bankruptcy laws range anywhere from easy when filing with no assets to extremely complicated with the more assets you have to protect. Here are 4 helpful hints to avoid bankruptcy, something that should [...]