chapter 7

Detroit Bankruptcy Lawyer: Can Bankruptcy Stop A Garnishment?

07/22/11

Most people don’t realize that filing bankruptcy can stop a garnishment. The conventional thinking is, “Well, they got the judgment in court, so nothing I can do”. Nothing can be further from the truth. Bankruptcy can and will stop the garnishment, even after your creditor has received their judgment. Your Detroit Bankruptcy Lawyer can stop [...]

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Bankruptcy Discharge

07/21/11

A bankruptcy discharge is one of the most common reasons for filing for bankruptcy.  A discharge releases you from personal liability for debts that qualify under federal law.  It is a permanent order granted by a bankruptcy court.  Any debts you successfully discharge in bankruptcy will basically disappear and your creditors can never come after [...]

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Can I get rid of Criminal Fines and Traffic Tickets in Bankruptcy?

07/18/11

Millions of tickets are dolled out every year, not to mention government penalties and fines.  Government tickets and fines are one of the most common forms of debt.  Can these be discharged through a bankruptcy filing?  In Chapter 7 bankruptcy, section 523(a)(7) of the Bankruptcy Code specifically states that fines and penalties owed to or [...]

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Can Joint Bankruptcy Filing Claim Entireties Exemption When Spouses Have Separate Debts?

07/13/11

I interviewed a married couple wanted to file joint Chapter 7 bankruptcy. Each spouse had separate credit cards and no joint unsecured debt. They have assets owed jointly free and clear of debt. My first thought was that their joint assets would not be protected in a joint bankruptcy. Joint marital assets owned as tenants by entireties are protected from the debts of either spouse provided the spouses do not have joint unsecured debts.

Then, I considered the point that a joint bankruptcy does not mean joint debt.

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Should Casey Anthony File Chapter 7 Bankruptcy?

07/08/11

If I were a law school profession teaching an introductory consumer bankruptcy class I would consider the following question for a final exam: Would You Advise Casey Anthony To File Chapter 7 Bankruptcy? Assume That A Civil Jury Would Find Her Liable For Her Daughter’s Death, and Assume That Ms. Anthony Will Have Lucrative Media Related Income In The Future.

The answer to this question involves several interesting bankruptcy law issues.

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Why You Should Always Consult A Tampa Bankruptcy Lawyer When Petitioning For A Bankruptcy Discharge

07/07/11

A Chapter 7 bankruptcy may provide a person inundated with debt some relief. A Chapter 7 bankruptcy gives the debtor an opportunity to liquidate certain assets in exchange for a discharge from debts owed. Creditors included in the bankruptcy will be prohibited from taking any further collection action against the debtor once the discharge is [...]

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"My Name Is On The Account" Does Not Always Mean Account Money Is Part Of Your Bankruptcy Estate

07/05/11

Many bankruptcy debtor misunderstand what it means to have their name on a family member's bank account.  I usually ask prospective debtors how much cash they have in their bank account. Often the client tells me that they have almost no money in their primary, household account but that “there name is on an account with” their (parent, spouse, child, etc.).

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Filing Bankruptcy Without an Attorney

06/28/11

According to the state bar, 40-50% of Arizona bankruptcy filings occur without an attorney (“pro se” in legalese).  Most individuals who file for bankruptcy are at rock bottom, and do not believe they can afford an attorney, or that it will be necessary to a successful outcome of the proceedings. However, the importance of an [...]

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Billionaire Bankruptcies?

06/27/11

As reports surface that wealthy socialite Patricia Kluge has filed for Chapter 7 bankruptcy protection, many have wondered:  how can you file for bankruptcy when you are a billionaire? When United State bankruptcy laws were drafted, the focus was pro-debtor.  The idea was to provide a fresh start for people who had suffered under the [...]

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Assessing Your Financial Situation Pre-Bankruptcy

06/22/11

Often, people wait too long to file bankruptcy.  Considering bankruptcy to be a last resort is probably a wise thing to do, and there are often many things an individual can do to prevent bankruptcy.  However, waiting too long can mean that bankruptcy protects less of your assets than it might otherwise be able to, [...]

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