After the paperwork for a bankruptcy is filed, the court will schedule a “meeting of creditors.”  Often referred to as a 341 meeting (because it’s required under Section 341 of the bankruptcy code), this is nothing more than an opportunity for the trustee assigned to the case or your creditors to ask a few questions [...]

Filing bankruptcy usually doesn’t require a court appearance in front of a judge.  It does, however, require the debtor to appear at a meeting in front of a trustee and be questioned about the paperwork filed in her case.  If you file as a married couple, both spouses will have to appear.  Your attorney gets [...]

Once the paperwork to file a bankruptcy is completed it needs to be signed.  This sounds easier and simpler than it really is.  It is your opportunity to confirm that your attorney heard everything you told him and has properly accounted for it.
Be sure to read everything carefully and make sure that all of your [...]

The law requires that all debtors take a credit counseling course before a bankruptcy is filed.  That means that both spouses in a joint case must take the course.  It isn’t a multi-session course: just one class of an hour to two on the phone or the internet.  And yes, you’ll have to pay for [...]

Preparing the paperwork to file a bankruptcy is, generally, the next step after you have hired an attorney, met with him to discuss your options, and provided him with all of the information requested.
The initial paperwork for a chapter 7 bankruptcy consists of the petition; the schedules and the statement of financial affairs.  Additionally, there [...]

High rate loans continue to plague consumers.  But, new legislation, introduced by Senator Sheldon Whitehouse from Rhode Island, will limit creditors from collecting on high-interest loans in bankruptcy court.  The bill has gone to the Senate Judiciary Committee for review, according to an article from Bloomberg.
As proposed, this bill, the “Consumer Credit Fairness Act,” will [...]

You have decided to file bankruptcy and even taken the first step of finding competent counsel to help. Hopefully you have met with the attorney and he has given you some forms to fill out or told you what he needs to prepare the paperwork.
You need to get him the information right away so he [...]

The Senate passed the Credit Cardholder’s Bill of Rights on May 20, 2009. The bill already passed the House of Representatives and will now go to President Obama for his signature.
This piece of legislation actually limits some of the credit card company’s methods of doing business. It forces them to be more honest [...]

The Credit Cardholder’s Bill of Rights has passed the House of Representatives and is on its way to the Senate.  This bill will limit the amount of interest credit card companies can charge; force the credit card industry to disclose how much they do charge; and provide consumers with appropriate information as to the way [...]

Promising to repay a student loan can be an expensive proposition.  First of all, there doesn’t seem to be any determination as to how much you can afford to repay. The lending companies will simply write the checks so that the student can finish her education.  When you guaranteed the loan, it was only a [...]