Bankruptcy Basics

Recent Articles
Does Bankruptcy Clear Medical Debt?
Find out what happens to medical bills in bankruptcy. ... Read more

Will Filing for Bankruptcy Stop a Civil Lawsuit?
Find out what happens if you file for bankruptcy while being sued. ... Read more

What Do I Need to Do to Start the Bankruptcy Process?
Find out what it takes to file for bankruptcy. ... Read more

How to Choose the Right Bankruptcy Chapter: When Chapter 13 Makes Sense
Chapter 13 bankruptcy might be right for you if you need to save your house, car, or other property; if you have nondischargeable debts, such as past due taxes or support arrearages; or if you've recently filed for Chapter 7 bankruptcy. ... Read more

How to Choose the Right Bankruptcy Chapter: When Chapter 7 Makes Sense
Chapter 7 bankruptcy might be right for you if your income is low; if your debts are the type that will be wiped out; and if you don't own a lot of property. ... Read more

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Bankruptcy Questions

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You can file bankruptcy.  In fact, filing upon being sued is a common time.  However, for $5000 on a claim, assuming this is all the debt you have, you would likely be able to settle the cas ...Read more

The filing is not a problem.  The issue is the success of a plan, and what you intend to do.  Also, if the creditor is the bank, you might do better outside of bankruptcy, as there are no tr ...Read more

Perhaps you signed a personal guaranty of the debt incurred by the coporation.  Also, if the creditor filed suit to obtain a judgment and named you in the suit and you did not answer the suit, th ...Read more

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How can I eliminate my debt for my repossessed van?

Q: I lost my job and suffer from medical conditions. I was behind in payments and just gave up. They took it out of my doctor’s parking lot, and I had to walk home. A: Your options are to defend ... Read more

How can I eliminate my debt for my repossessed van?

Q: I lost my job and suffer from medical conditions. I was behind in payments and just gave up. They took it out of my doctor’s parking lot, and I had to walk home. A: Your options are to defend ... Read more

What is a 341 Meeting?

What is a 341 Meeting? A meeting of the creditors, or a 341 meeting, is something every bankruptcy filer must go through in order to have their debts discharged.  In a nutshell, you will be asked ... Read more

10 THINGS YOU NEED TO KNOW ABOUT CHAPTER 7

1) It is required that you have filed all of your tax returns prior to filing your bankruptcy case. 2) You must identify all deposits in your bank accounts for the past 7 months. 3) You are required t ... Read more

Two birds with one stone

A bankruptcy will discharge individuals of most judgments, but not all. Certain claims may be excepted from a debtor’s bankruptcy discharge based on how the claim arose. For example, claims &#82 ... Read more

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