Bankruptcy Basics

Bankruptcy Filings Lower in Arizona Than Last Year

11/09/11

Bankruptcy Filings Lower in Tucson, Arizona and Phoenix, Arizona Than Last Year   Arizona bankruptcies have been declining in number for the last 9 months.   Statewide filings fell 23 percent in October of 2011, and overall bankruptcy filings are down 13 percent from 2010 so far this year. Bankruptcy has been filed more than 106,000 [...]

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Handling Loans In Bankruptcy

11/07/11

As a Fort Worth bankruptcy attorney, many of my clients ask about which types of loans can be managed in their bankruptcy case. Although each bankruptcy is different and each loan debt is different, there are a few general rules I offer about how loans are discharged in bankruptcy. Unsecured  Loans An unsecured loan is [...]

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In re: Rankin, No. 10-62340-13

10/25/11

In re: Rankin, No. 10-62340-13 (Bankr. D. Mont., January 21, 2011).   When you file for Chapter 13 bankruptcy, you propose to the bankruptcy court your plan to repay what you owe to your creditors.  There are many requirements that each plan must meet in order to be approved by the court and put in [...]

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Does My Spouse Have to File Bankruptcy With Me?

10/14/11

No, your spouse does not have to file bankruptcy with you. There is no law stating that both people in a marriage must file bankruptcy. A married person can file a single bankruptcy. If a married person does decide to file without their spouse, some information from the non-filing spouse would be needed. The non-filing [...]

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How A Bankruptcy Lawyer Can Help Clients Discharge Debts

10/13/11

Chapter 13 bankruptcy may provide some relief to borrowers overwhelmed with debt. Often, the most significant benefit that bankruptcy offers is the discharge of debt. The discharge releases the debtor from all debts included in the bankruptcy. Under current bankruptcy law, creditors included in the bankruptcy may not initiate or continue any legal or other [...]

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Can I Sign My Spouse’s Name To The Paperwork?

10/02/11

Absolutely not.  You cannot sign your spouse’s signature, and you should not sign your spouse’s signature on anything.  This goes beyond bankruptcy law.  This is just common sense.  The documents that are prepared are prepared for both you and your spouse.  Both you and your spouse must read and understand the documents and know what [...]

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Can I Keep A Credit Card If I File For Bankruptcy?

10/02/11

The general answer is no.  You have to list all the people that you owe money to, including every single one of your credit card issuers.  Even credit card issuers who are not owed a debt are going to find out about your bankruptcy filing.  Those creditors subscribe to a service which notifies them of [...]

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Can I Go To Jail For Not Paying My Bills?

10/02/11

There is no debtor’s prison in the United States.  You are not going to go to jail for not paying your bills, unless those bills were incurred by a serious crime, fraud, embezzlement, something of that nature.  However, you can go to jail if you do not appear at numerous court proceedings when a creditor [...]

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The “341 Hearing” – What Should I expect?

10/02/11

The creditors’ meeting, otherwise known as 341 meeting, is a procedural step in every Chapter 7 and Chapter 13 bankruptcy. In a typical 341 meeting, the debtor will be asked questions under oath by the bankruptcy trustee with respect to his or her financial affairs. Most debtors are apprehensive of the 341 meeting. While 341 [...]

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8 Eye-Opening Secrets That Reduce the Pain of Bankruptcy

09/26/11

SECRET #1: Most people keep all their property. Illinois law allows you to keep your home, cars, furniture, appliances, employer sponsored retirement and other things you need to get a fresh start. While there are limits to the values of what you can keep, typically you are not required to give up anything. In general, [...]

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