BankruptcyQuestionsNationalBankruptcyForum

Too much debt! Phones ringing off the hook! Debt collectors are hiding out in the shrubbery behind the house. The debtor finally files for bankruptcy. A bankruptcy estate is created. A trustee is appointed with a fiduciary duty to creditors, the trustee must pursue all assets of the bankruptcy estate. The trustee requests a mountain [...]

Let’s begin with a cliche: the economy is in shambles. Even with an encouraging March jobs report, unemployment is at 8.8 percent and many experts say the rate dropped mainly because people have given up searching for jobs, not because they’ve found work. The lingering recession has caused major financial pain for countless American households, [...]

No doubt you have heard the terms “unsecured” and “secured” creditors? But what do these terms really mean? In reality, the concepts are quite simple. First off, a creditor is generally someone who is owed money. A common example is when you take out a bank loan. Here you owe the bank a certain amount…

22,000 people per month search the term “Bankruptcy New York” on Google When searching for just about anything, Google is often the first place people turn. The search for bankruptcy attorneys is no exception. A staggering 22,000 people per month search the term “Bankruptcy New York” on Google. After all, what better way to find a bankruptcy…

An article today first appearing in the New York Times suggests that congressional aides are exploring the possibility of legislation that would allow states to file for bankruptcy protection. You can read a summary of the article here.  The bankruptcy code currently provides the option for cities to seek bankruptcy protection, but does not provide…