Most bankruptcy debtors will need to file their taxes before, or soon after, filing for bankruptcy.   If your adjusted gross income for 2008 was $56,000 or less, you are eligible for free tax preparation and e-filing of your federal taxes.
This services is available through a partnership between the Internal Revenue Service (IRS) and [...]

In Chapter 13 bankruptcy, creditors are normally not allowed to call, write, bill, or otherwise contact you. You are protected by the automatic stay in your bankruptcy case. But if you see a creditor’s number come up on your caller ID, don’t ignore it. They will keep calling and calling until they get some type [...]

Protection of your assets is one of the most important reasons to file for bankruptcy.  Even if you don’t have any assets now, filing a Chapter 7 or Chapter 13 bankruptcy can protect your future assets.
Under state laws, creditors can sue you and take your property, but most states have laws called “exemptions” that protect [...]

Filing  Chapter 7 bankruptcy will stop collection efforts of your creditors, however that relief may be temporary if your debts are of the kind that are not discharged in bankruptcy.
Some debts, like student loans, child support, many taxes, and a few others, are not discharged by bankruptcy.  However you may experience some relief from their collection for [...]

Courts may grant a Motion for Relief from Stay in a Chapter 7 if it was filed because a debtor is behind on the mortgage when filed, and there is no equity in the property for creditors.  Chapter 7 is not designed to stop foreclosures to give people time to catch up on their mortgages.  [...]

I often find that when asked about their insurance, my bankruptcy clients tell me that they are “covered by insurance from the mortgage company.”
Bankruptcy or not, be very clear about this:  if your insurance lapsed and you were notified by your mortgage company that they have obtained insurance for you, this insurance covers their loan [...]

Turning in a car to get out from under high car payments may backfire.   Many people think that a “voluntary” repossession won’t come back to haunt them, but any surrender or repossession of a car that does not pay off the loan in full can lead to big debt problems for the borrower.
When you buy [...]

In general, a simple, no asset Chapter 7 bankruptcy case will usually go on for about 4 months, but the case could be open a lot longer.
When filed, the Court sends out a Notice of Filing to all parties in the case, notifying everyone of the filing and of the deadlines involved.  The notice contains [...]

Some companies are sending letters to bankruptcy debtors for the 2nd bankruptcy course that must be taken in bankruptcy. These letters can be misleading and many debtors believe, after reading the letter, that they must take the course from that particular company.
Companies get a list of bankruptcy filings and the addresses of all people [...]

When you file a bankruptcy case, you may get a letter from a company that makes it seem as if you have to take a course from them, now that you have filed for bankruptcy.  You don’t.
Read the letter carefully, because it might be an advertisement for the Financial Management Course that is given by [...]