Bankruptcy

If you're considering filing bankruptcy as a way to save your home or get out of debt, you're certainly not alone. Famous people have sought the protection of bankruptcy as well: Abraham Lincoln, Mark Twain, Donald Trump, Buffalo Bill, Zsa Zsa Gabor, Larry King, Rembrandt, Oscar Wilde, Jerry Lee Lewis...

Surprised? Don't be. Tough times can fall on anyone. It's about what you do to make things better that counts.

Difference Between Chapters 7 & 13

What is the Difference Between a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy?

One of the most common questions is what is the difference between a Chapter 7 bankruptcy and a Chapter 13 Bankruptcy. In determining whether or not you should file for bankruptcy, it is important to understand the differences between each one. Below are some of the differences. Read more

Debt Settlement Companies - Are They A Scam?

Debt Settlement Companies Described As Consumer Scam

By N.Y. Times Article

Don't hire a debt settlement company until you read this New York Times article by Peter Goodman. The article describes how the poor economy has lead more people than ever to try debt settlement and consolidation services to resolve credit card debt in order to avoid bankruptcy. It states that most consumers who pay debt settlement firms end up with worse credit and less money an no solutions. It compare most (not all) firms to ponzi schemes.

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What Happens At Bankruptcy Court?

If you are facing bankruptcy in the future, you are probably a little nervous and frightened. You want to know what to expect, and you probably wonder how bad it will really be. Knowing a little about the process and what it can and cannot do for you will help calm your nerves. Read more

Filing For Bankruptcy Will Actually Improve Your Credit Score

The decision of whether to file for bankruptcy protection is not an easy one. Among the numerous concerns is the worry that your credit rating will be so damaged that securing a loan — even at a lousy rate — will be near impossible.Well, here's some surprising news: In many cases, the damage done to one's credit score isn't nearly as bad as expected. Over the long run, obtaining a score high enough to make you eligible for very competitive rates isn't out of the question. Read more

Texas Rangers Baseball Team Files For Bankruptcy

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Why Do You Need An Attorney To File for Bankruptcy?

The new bankruptcy laws which went into effect October 17, 2005 are so complex that even bankruptcy attorney specialists have a difficult time meeting all the requirements and understanding the nuances of the law. Thus, it is virtually impossible for a non-bankruptcy attorney, or a person who is not an attorney, to properly prepare a case, assess the options and potential problems, comply with all the rules and regulations, and successfully navigate the case to a successful conclusion. You will, quite simply, need an attorney who specializes in bankruptcy law to handle your case.

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Chapter 7 Bankruptcy Statement of Intention: Little Things Mean A Lot

Statement of Intention For New York Chapter 7 Bankruptcy Court

The Bankruptcy Code directs the New York Chapter 7 Bankruptcy debtor to file a statement of intention with the bankruptcy court within 30 days after the petition filing, or on or before the 341 Meeting of Creditors, whichever is earlier. A statement of intention advises the court, the bankruptcy trustee, and your creditors of how the debtor intends to treat secured collateral, like a car or home, in the bankruptcy.

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Bankruptcy Is Not A Dirty Word

The very word “bankrupt” has the potential to bring silence to a room like very few others in the English language. In a world where we are all, to a greater or lesser extent, touched by materialism if not directly materialistic ourselves, the spectre of bankruptcy is one that can make even some of the most feckless among us sit up and take notice of what is going on. Whatever our own individual and personal views on the subject may be, there is a stigma connected with the concept and the reality of bankruptcy that makes many people stop short of actually going to the extent where they declare themselves, or allow themselves to be declared, bankrupt.

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A Glossary of Bankruptcy Terms

Basic Bankruptcy Terms

A glossary

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How To Handle Harrassing Creditors and Collection Companies

At one time or another all of us have been contacted by a bill collector. We forget to pay or fall behind on payments on credit cards, mortgages, cars, medical bills, or other situations involving bills. Then, we get a letter or telephone call. For some these calls can become a terror attack by their creditors. The creditors are calling at all hours at home and work. They are calling the neighbors, the family and employers. They are obnoxious, condescending and downright rude when you do talk to them. Despite the laws governing their actions many creditors and collection companies feel that an individual will not have the time, money or emotional strength to pursue them in court. Therefore, they get away with the outrageous and, sometimes, illegal acts.

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