A Bankruptcy Court garnishment can be as high as you want it to be.  There is no limit on the amount a Court can take from your paycheck because the federal limit on paycheck garnishment does not apply to chapter 13 payments.
The amount of the garnishment is selected by the debtor, who submits a written [...]

Federal law limits wage garnishment to 25% of the weekly disposable earnings or to that amount that is over 30 times the Federal minimum hourly wage, whichever amount is less.  The federal law is found at 15 USCS Section 1673.
In short, as of August 3, 2009, the first $217.50 is exempt.  This amount will change [...]

Ruthless Defaulters is the name banks give to the increasing population of credit card account holders who purposely refuse to pay the bill, so says David Streitfeld in the NY Times story, “When Debtors Decide to Default”.
And these defaulters are finding support from others consumers who are just beginning to understand high interest rates make [...]

Settle your medical debt directly with the Doctor or Hospital for pennies on the dollar.  Do it yourself debt settlement saves you money.  Medical collection departments are strapped for cash.  Once they exhaust insurance coverage, the self-pay balance, that portion of the debt owed by the patient, is negotiable.
Call your local medical account department and [...]

Credit card and medical debt can often be settled for pennies on the dollar.  You do not need to hire a fancy fly by night late night television advertising debt settlement company to settle your debt.  Give it a try yourself.  You will probably realize a considerable savings.
I have been filing bankruptcy cases for almost [...]

Death of the parent or dependent student discharges the obligation to pay a Federal Parent Plus student loan.  Most people learn the hard way that student loans are difficult if not impossible to discharge in bankruptcy.  The seminal case, In re Bruner, has been discussed on this site.
(Brunner v. New York State Higher Education Services [...]

The easiest month to file bankruptcy is July.  Consumers filing bankruptcy under Chapter 7 or Chapter 13 need to complete a Means Test of average income derived during the last six months.  If you file in July, you need to look at your income during the first six months of the year – January through and including [...]

When an insurance policy pays a damage claim for a totaled car that is involved to a chapter 13, the bankruptcy trustee is required to hold excess money over the amount of the lender’s secured claim according to In re Feher, Southern District of Illinois case Bankruptcy Number 95-30444, Adversary Number 96-3133.  Consequently, the money [...]

In the Southern District of Illinois Bankruptcy Court, one option permits the insurance company to pay the money directly to the car lender.  Another option lets the debtor use the proceeds to purchase a substitute vehicle.
The insurance money is property of the bankruptcy estate under contractual terms that make the money payable to the debtor, [...]

GM Investors holding credit default swaps [CDS] may get a better return on their investment if GM files what would be history’s 4th largest bankruptcy.  A credit default swap is a derivative contract between two parties where one party pays the other party a fee and receives a payoff if the specified investment fails.  It [...]