Most debtors considering bankruptcy hope that they will qualify for Chapter 7 bankruptcy; but if they don’t they can become very disappointed. If you are unable to qualify for Chapter 7 bankruptcy, don’t despair. Although discharging all of your debt in Chapter 7 bankruptcy has it benefits, Chapter 13 bankruptcy also offers its own set [...]

Do you have a secured loan with a co-signer? When you file Chapter 13 bankruptcy there are a few ways that you can minimize or even eliminate future creditor actions against your non-filing co-signer. Here are your options:

You can return the property to the lender. For example, if you and [...]

When debtors consider filing bankruptcy, they need to make sure that they plan carefully and work with a qualified bankruptcy attorney to make sure they are doing everything within the law.
Here’s what you should do to prepare for your bankruptcy:

Gather all of your financial documents. That includes pay stubs, creditor [...]

In the Chapter 13 bankruptcy case of Cobb, Sean C. and Cathy S., the bankruptcy court agreed with a creditor that the debtor’s plan should not be approved.

The details of the bankruptcy case:
Early in September 2008, the debtor purchased a 2009 Chevrolet Malibu from a dealer. He took possession of the car on the same [...]

For debtors considering Chapter 7 bankruptcy, determining if their income level makes them eligible for Chapter 7 bankruptcy involves taking a “means test.”  Typically, debtors who earn above the median income level for their family size must file Chapter 13 bankruptcy.
The median income for Texas is:
One person: $38,545
Two people: $54,908
Three people: $57,053
Four people: [...]

When a debtor files bankruptcy, creditors are required to file a proof of claim if they want to have a chance at payment during the bankruptcy. If a debtor does not object to the proof of claim after it is filed, then the bankruptcy court will basically deem it “allowed.” But what does that mean?  [...]

Many debtors considering bankruptcy are afraid that they will miss out on opportunities due to discrimination against them.  It’s important that debtors understand that it is illegal to discriminate against anyone who has sought relief under the bankruptcy code.  A matter of fact, there is a specific section of the bankruptcy code that addresses the [...]

For debtors seeking bankruptcy protection taking the bankruptcy “means test” can be a hassle that doesn’t always leave the debtor with a fair shake.

For debtors seeking bankruptcy protection taking the bankruptcy “means test” can be a hassle that doesn’t always leave the debtor with a fair shake.  When the Bankruptcy Abuse Prevention And Consumer Protection [...]

According to an article in the Star-Telegram, many low-income residents had to receive medical treatment after thousands of people pushed and shoved for the opportunity to apply for the Homelessness Prevention and Rapid Re-Housing program which will provide grants of up to $3,000 for homeless and low-income individuals.
The article said:
“Scuffles erupted as several thousand Detroit [...]

Let’s clear one thing up right now: going financially bankrupt does not automatically mean you go morally bankrupt as well.

According to an article in USA Today, most low-income homeowners facing foreclosure try to fight foreclosure without the help of an attorney.  And while there are lawyers and centers committed to helping the nation’s poor fight foreclosure, many of these legal assistance centers are overwhelmed.
The article said:
“A study to be released today by the Brennan [...]

If you’ve been hanging around any of the debt or bankruptcy forums, you’ve probably run across the phrase “judgment proof.”  But does it really mean? When a debtor is judgment proof, it usually means that he/she does not have assets that can be liquidated even if a creditor has a judgment against the debtor.  For [...]