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

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

Background Chapter 12 is designed for “family farmers” or “family fishermen” with “regular annual income.” It enables financially distressed family farmers and fishermen to propose and carry out a plan to repay all or part of their debts. Under chapter 12, debtors propose a repayment plan to make installments to creditors over three to five...Read More

Background A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy. An individual cannot file under chapter 11 or any other chapter if, during the preceding 180 days, a prior bankruptcy petition was dismissed due to the debtor’s willful failure to appear before the court...Read More

Background A chapter 13 bankruptcy is also call or texted a wage earner’s plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. If the debtor’s current monthly...Read More

The first municipal bankruptcy legislation was enacted in 1934 during the Great Depression. Pub. L. No. 251, 48 Stat. 798 (1934). Although Congress took care to draft the legislation so as not to interfere with the sovereign powers of the states guaranteed by the Tenth Amendment to the Constitution, the Supreme Court held the 1934...Read More

Alternatives to Chapter 7 Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy Code. Under...Read More

Court Structure (SOURCE) The Federal Court System The State Court System Article III of the Constitution invests the judicial power of the United States in the federal court system. Article III, Section 1 specificall or texty creates the U.S. Supreme Court and gives Congress the authority to create the lower federal courts. The Constitution and...Read More

The federal judiciary operates separately from the executive and legislative branches, but often works with them as the Constitution requires. Federal laws are passed by Congress and signed by the President. The judicial branch decides the constitutionality of federal laws and resolves other disputes about federal laws. However, judges depend on our government’s executive branch...Read More