Bankruptcy Fraud
Bankruptcy was created to help protect consumers from the down spiral of debt. While most people who file for bankruptcy are truly in need of assistance, there are some people that have learned how to take advantage of the process. This illegal exploitation of bankruptcy is known as bankruptcy fraud and can lead to some […]
Effect of Annuity or Periodic Payments in Bankruptcy Proceedings
Finances are one of the most common things that people worry about. This is especially true given the current state of the economy. Sadly, many people have lost their jobs, bringing the unemployment rate to a higher percentage than it has been in decades. The housing market has not helped the situation either, as many […]
Is Tax Debt Dischargeable by Bankruptcy?
Many people think that bankruptcy is a simple process that will erase their debt and give them a fresh start. While this is partially true, there are some debts that are much easier to discharge than others. Some debts cannot be discharged at all, so it is important to become familiar with the different laws […]
Can I Keep My Home If I File Bankruptcy?
If you own a house, you have probably put quite a bit of time and effort into keeping it fixed up. First, you looked for just the right house in just the right area for your family. You have decorated and worked to make it your own special home. However, you may have recently fallen […]
Lien Stripping in a Chapter 13 Bankruptcy
As the economy and housing market has declined many Americans have found that their house is worth much less than they owe on it. This can be discouraging if you are struggling to make your mortgage payments or considering filing for bankruptcy. Fortunately, there is an old technique known as “lien stripping” or “mortgage stripping” […]
Chapter 13: A Life Raft In a Sea of Debt
A sad fact of today is that more and more households are experiencing financial troubles. Most of us either personally know someone or have ourselves been affected by the recent economic downturn. With state governments running deeply in the red, resulting in further layoffs, furloughs and potential cuts in assistance, these troubles are likely to […]
Chapter 11 versus Chapter 13 Bankruptcy
The financial crisis is taking a toll on many Americans. The unemployment rate is higher than it has been in years and many people are finding themselves upside down on their homes. Owing more on your home than it is currently worth is a very difficult situation, especially if you don’t have a job to […]
Basics of Personal Bankruptcy
According to the National Bankruptcy Center, in 2009 1.41 million Americans filed for personal bankruptcy. Job losses and decreased income nationwide fueled the surge in filings, which showed an increase of over 32% from the year before. With more and more people feeling the weight of debt, many are asking if bankruptcy is an option […]
You Don’t Have To Lose Everything When Filing For Bankruptcy
The burning question when families or individuals have to file for bankruptcy is, do I lose everything? The answer to that question is no. Most importantly what do you get to keep when you file for bankruptcy and what is protected. When filing for Chapter 7 Bankruptcy a liquidation process takes place to help repay […]
The Emotional Effects of Declaring Bankruptcy
Filing for bankruptcy can be a shameful and disheartening process for most people. People typically associate their wealth with their personal and professional achievements. The path to professional achievement can be very spiritual and some people feel a deep connection to their net worth. With others, money is not just a personal asset, but it […]