Bankruptcy Blog Archives

This personal bankruptcy question was posted on the internet in 2011 in a bankruptcy discussion: “How does bankruptcy protect property from repossession?” The moment you file a bankruptcy, a judge will order all collecting actions to cease through an automatic stay. The automatic stay, applicable to all types of bankruptcy filings, means that the mere [...]

If you have credit card debt that you cannot afford to pay or have even reached the point where the credit card company has sued you and obtained a judgment against you, you may not know where to turn.  But one option you should at least consider is declaring bankruptcy. Bankruptcy is a powerful tool [...]

Many of you who are first time filers have all kinds of questions to ask about bankruptcy. One question that keeps cropping up is, “How long do you have to live in an area in order to file for bankruptcy? Like most bankruptcy questions, since bankruptcy laws are so complicated, the answer is not as [...]

Many of you who are facing bankruptcy for the first time might ask the question, “Can you get unpaid child or spousal support discharged in a bankruptcy?” The immediate answer to the question is that any unpaid support payments you have been rendered by a court of law to pay, like child support or alimony, [...]

Many people facing bankruptcy for the first time have a lot of questions about bankruptcy, especially when they are filing without legal assistance. Others do not know enough to ask their bankruptcy lawyers the questions they might should be asking them. One common question asked is “Can you pay your family doctor even though you [...]

Some people have the misinformed opinion that married couples must always file for bankruptcy protection together. There can really be nothing further from the truth. Whereas spouses may choose to file a joint bankruptcy case together, they are not required to file together by bankruptcy laws. There are two types of bankruptcies most individuals can [...]

Data from the National Bankruptcy Research Center (NBRC) indicates filings for bankruptcy protection nationwide have declined for the eighth straight month. In August 2011, there were 113,432 filings compared to 127,028 recorded for August 2010. The filings for all of 2011 are expected to be much less than the 1.5 millions filings in 2010. One [...]

Foreclosure is a legal process where the mortgage provider, who has a lien on your property, can end your ownership rights. A foreclosure on property cannot legally begin until there is a violation of the mortgage contract by the debtor.  Violations which can initiate a foreclosure include defaults in mortgage payments, fraud in filling out a loan application, and filing [...]

There are a lot of misconceptions about filing for bankruptcy. One of the most common: bankruptcy will eliminate all of your debts. So, will bankruptcy wipe out all your debts? No, bankruptcy will not wipe out all your debts. Unsecured debts that are non-exempt can be completely wiped out in a bankruptcy discharge. Secured debts [...]

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act to control the perceived abuses caused by serial filers. As part of those changes, an individual is limited by law on when they can file, but not on how many times they can file. Most individuals can file either Chapter 7 or Chapter 13 Bankruptcy. Chapter [...]