If you decide to seek bankruptcy relief, you can represent yourself, you can hire an attorney to represent you, or you can get help in some localities from a bankruptcy petition preparer who is not an attorney.  THE LAW REQUIRES AN ATTORNEY OR BANKRUPTCY PETITION PREPARER TO GIVE YOU A WRITTEN CONTRACT SPECIFYING WHAT THE...Read More

This court order grants a discharge to the person named as the debtor. It is not a dismissal of the case and it does not determine how much money, if any, the trustee will pay to creditors. Collection of Discharged Debts Prohibited The discharge prohibits any attempt to collect from the debtor a debt that...Read More

Most people with debt problems are, at least intially, highly resistant to the idea of filing for bankruptcy.  Filing chapter 7 or chapter 13 is often viewed as taking the easy way out, or looked at as a good way to ruin one’s future credit rating, or as a moral failing best to be avoided.  These viewpoints, combined with financial...Read More

When you’re pressured by Foreclosure In today’s housing market, many people are facing potential mortgage foreclosure even the people who never imagined that this could happen to them. Maybe you had to move because your family grew, you got a divorce or you needed to relocate for a job. Or maybe you cannot close the...Read More

Do you Qualify for Bankruptcy? Are you frequently late in paying your bills? Do unexpected expenses cause a serious strain on your finances? Do you constantly worry about paying your bills on time? Are you behind on any of your debts? Has your income decreased in the past six months? Have your wages been garnished...Read More

What is Bankruptcy? Bankruptcy is a legal proceeding afforded to people (or businesses) who are unable to handle a financial crisis. Bankruptcy is made available by federal law so that you can have a fresh start. How Does Bankruptcy Work? After an individual qualifies and files a bankruptcy, legal protections are then instilled by the...Read More

If you’re an individual and feel that there is no way out of your debt troubles — filing bankruptcy may be your best option. Individuals file personal bankruptcy because they need financial relief and seek a second start: A Chapter 7 bankruptcy or a Chapter 13 Bankruptcy can help you overcome problems if: • You...Read More

Chapter 13 is an interest-free repayment plan that allows you to combine your debts and repay all or part of them while protecting you from creditor harassment. It is an excellent alternative for debtors whose financial problems cannot be helped by a Chapter 7 filing. Chapter 13 often provides much greater protection to debtors who own significant assets...Read More

What is Chapter 7 Bankruptcy? Chapter 7 Bankruptcy was enacted to allow persons who are hopelessly burdened by debt to have an opportunity for a new beginning by wiping out unsecured debts (debts that aren’t tied to any specific item of property, most commonly credit cards). Chapter 7 is designed for persons who cannot afford...Read More

Absolute Priority The order of payment to the different classes of creditors mandated by the Bankruptcy Code. Accord and Satisfaction An agreement to settle a contract dispute by accepting less than what’s due. Adequate Protection The right of a party with an interest in the debtor’s property to assurances its interest will not be diminished...Read More