BankruptcyQuestionsNationalBankruptcyForum

Back when the bankruptcy laws were changed in 2005, a hard calculation was implemented, based on household income and household size, to determine whether or not a bankruptcy filer was making a “decent” living, and should be disqualified from discharging debts completely in Chapter 7 without repayment.  This hard calculation has been dubbed The Means [...]

Bankruptcy does not have to be a failure. Bankruptcy can be the beginning of a brand new start.  You can eliminate much or sometimes all of the debt that is bringing you down.  Debts such as medical bills, credit card bills, personal loans and other debts for different types of services can be eliminated.  Debts [...]

So, you’re getting ready to file for bankruptcy in North Carolina. Or, at least thinking about it. Time to panic? Absolutely not. It’s time to learn the law and explore your options. We’ll start at the beginning, with the biggest misconception that North Carolinians, and consumers in general, have about filing for Chapter 7 bankruptcy: [...]

As I recently wrote on the Bay Area Bankruptcy Lawyer Blog, perfectly honest consumer debtors sometimes make the mistake of transferring an asset to a friend or family member before filing bankruptcy.  This can happen innocently enough, as for example, where a debtor gives an old car of little value to an adult child months [...]

The Bankruptcy Process in Chicago is Different Than Other Cities Are you considering filing for bankruptcy in the Chicago area? Don’t assume that the process will be little more than filling out some boilerplate forms. Many people mistakenly believe that filing for bankruptcy is the same throughout the country. While there is uniformity to the [...]