Bankruptcy Basics

The term debt relief agency appears in a legal context for the first time in bankruptcy law in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 [The Act]. The first chapter of this new bankruptcy reform law can be found at Title 11 U.S.C. 101. This is the General Provisions chapter and it contains definitions of words of art used throughout the Act, and includes the term “debt relief agency”.

New Debt in Bankruptcy? Often individuals in a Chapter 13 Bankruptcy ask if they can take on new debt during the years they are under a Plan of Reorganization. Either the car lease is up or a mortgage modification would help improve cash flow. You can incur new debt in Chapter 13 but you have [...]

The mail carrier brings a envelop with official looking papers that name you in a law suit.  It says something about U.S. Bankruptcy Court.