Shortly after you file for bankruptcy, the Court sends you a notice to appear at a meeting of creditors, also called a “341 meeting”. This meeting will take place roughly about a month after your case is filed. The notice will contain the date, address, time and the name of the trustee that will be […]

If you are considering filing for bankruptcy you have, no doubt, considered a number of the positive effects of filing for bankruptcy. To name a few: filing for bankruptcy can reduce or eliminate unsecured debt obligations, can provide peace of mind, and can get a debtor back on track financially. However, bankruptcy is not a […]

1. What will this do to my credit? Honestly, it depends. In many cases, if you are already behind your credit is already poor. Bankruptcy may or may not make it worse short term. Long term, all of those balances owed should soon reflect a zero balance and that will help you to improve your […]

Prospective clients often have a number of types of debt and issues leading them to consider filing for bankruptcy. One of the most commonly asked questions is whether a particular item or debt has to be included in the bankruptcy. The answer to this question is unequivocally “yes”. Any debt that is owed at the […]

If you are considering filing for bankruptcy you probably have a number of questions. Often times people turn to the internet or friends for advice, and may get confusing and inconsistent answers. The best course of action is to meet with an attorney. Many attorneys offer free, no obligation consultations. This is a great way […]

A 341 Meeting, also commonly known as a meeting of creditors, is an opportunity for creditors and the bankruptcy trustee to ask the debtor questions. The meeting is called a 341 meeting because it is provided for in Chapter 11, Section 341 of the United States Code. Section 341 provides that a meeting must be […]

Debtors often ask when they can begin to obtain new credit after filing a bankruptcy. Almost invariably the debtor is told that he/she can begin obtaining new credit immediately after commencement of his/her bankruptcy proceeding. While this is true, there are a number of things the debtor may want to consider when considering what types […]

Many individuals filing for bankruptcy are curious as to how filing will impact his/her credit and when he/she will be able to begin improving their credit after filing. The answer is that it depends. The impact to a particular individual’s credit score largely can be impacted by a number of things. If the debtor has […]

There are a number of reasons people file for a Chapter 7 Bankruptcy. Most commonly, the debtor is unable to repay their debt and would like a fresh start. The goal in a chapter 7 is to obtain a discharge of debts. However, for certain types of debts, the bankruptcy code does allow the debtor […]

There are a plethora of reasons a debtor may consider filing for bankruptcy, under Chapter 7 or Chapter 13 of the Bankruptcy Code. In many cases people are looking for a straight discharge and do not want to pay back creditors. To qualify to file for a Chapter 7 Bankruptcy, the procedures most commonly associated […]

Many debtors considering bankruptcy have a wide variety of types of debt. Debts range from medical bills, to credit cards and pay day loans, to homes and cars, and even student loans. The Bankruptcy Code affords little to no relief for debtors burdened with student loans. The general rule is that student loans are not […]

If you are considering filing for bankruptcy you have probably learned that a means test will be conducted. The means test may be referred to as a number of different things, including a statement of monthly income. This is a required filing in every bankruptcy case, regardless of whether you are filing a Chapter 7 […]

Many people consider bankruptcy due to concerns about their house, whether it is a foreclosure or the inability to afford the home in light of other financial obligations. For the individual debtor the choices, depending on a number of circumstances, are a Chapter 7 or Chapter 13 Bankruptcy. Each comes with advantages and disadvantages. In […]

[category: Bankruptcy} With bankruptcy filings ever on the rise attorneys and researchers are beginning to achieve greater insight into who is impacted and how people are impacted by bankruptcy. A number of studies have been done to examine this very issue, including the 2007 Consumer Bankruptcy Project. It comes as little surprise that various demographic […]

[catergory: Bankruptcy] It is almost impossible to turn on the news without hearing about a local company closing, jobs being lost, the housing market, or some other reminder of a still staggering economy. In these tough times many people consider options they may have never thought they would, including filing for bankruptcy. Unfortunately many people […]

Many individuals considering filing for bankruptcy have debts held with another person. This may be a spouse, significant other, or simply a co-signer. There are a number of potential questions and issues that may arise when there is joint debt. Though certainly not an exhaustive list, it is an overview of the types of issues […]

Debtors considering filing for bankruptcy often consider a number of issues, including current financial circumstances and long term financial well-being. Determining that bankruptcy is the right course of action is only the first step. Once the decision has been made there is a lot of work to be done. The debtor(s) will have to fill […]

Individuals considering filing for bankruptcy have various reasons for contemplating this option. Unfortunately, a number of people consider filing for bankruptcy because of issues with creditors. Creditors often sell debts to debt collection agencies; and these agencies can range from obnoxious behavior to outright illegal conduct. It is important to know your rights and know […]

Oftentimes people considering filing for bankruptcy have a number of issues that lead them to that decision. Many people have debts that have been unpaid for some time and debtors wonder what kinds of recourse creditors may have. Of course, many creditors employ techniques including phone calls, letters, and threats. In some cases the creditors […]

When considering filing for bankruptcy there are a number of things to consider. Of those, it is important to evaluate whether you should look into filing a Chapter 7 or a Chapter 13 Bankruptcy. Probably the first thing to address is income. There are specific income requirements to file for a Chapter 7 Bankruptcy. Many […]