This year marks the ten year anniversary of the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005, a major piece of legislation that overhauled the bankruptcy code throughout the United States. This Act was designed to make it harder to file for bankruptcy by imposing new regulations and stricter requirements for any individual […]
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By: StockMonkeys.com via Flickr Is bankruptcy the right solution to your financial woes? If you are feeling at the end of your rope financially, you likely have a lot of questions, and with good reason. Bankruptcy, which some attorneys tout as the be all, end all solution to overwhelming debt woes, is a complicated […]
Chapter 7 Bankruptcy Creditor’s Meeting If you file a Chapter 7 bankruptcy petition, you will be required to attend a mandatory Meeting of the Creditors pursuant to Rule 341 of the US Bankruptcy Code. Many of my clients experience anxiety or nervousness before attending the meeting, but there really is no need for concern. The […]
Discharging Debts in a Chapter 7 Bankruptcy For most people, the main goal of filing for Chapter 7 bankruptcy is to discharge (wipe out) their debts. Although some debts are “nondischargeable,” most people filing for Chapter 7 will be able to discharge most or all of their debts. While credit card debt is one of […]
Chapter 13 Bankruptcy Information There are two main reasons that most of my clients file a Chapter 13 Bankruptcy: Partial Discharge First, if your median household income is too high to pass the Chapter 7 Means Test, you may still be able to get a partial discharge of some of your unsecured debts by filing […]
Frequently Asked Bankruptcy Questions While financial strain and stress are caused by many reasons, their solution can be found in the United States Bankruptcy Code. Practically every civilization, since organized society, has had some form of bankruptcy relief. Many people have turned to bankruptcy as a solution to their financial situation. Whether to stop a […]