“I don’t want to file bankruptcy on my house!”  “I don’t want to file bankruptcy on my car!”  “I owe my mom some money but I don’t want to file bankruptcy on her!”
Every bankruptcy attorney practicing in this country has heard these phrases or variations of them.  The client wants to keep his home so he thinks [...]

Your Credit Score can be an important asset.  It determines your ability to get credit, and the cost.  It could be a factor in your getting a job, renting an apartment, and purchasing a house or a car.  When you file a Chapter 7 bankruptcy, your credit score will be affected.  In some cases, however, it’s [...]

As my friend and colleague, Cathy Moran explained in her blog over a year ago, the benefits of filing a bankruptcy mean that the debtor provides information to the bankruptcy court in the papers filed with the court.
This benefits the debtor more than the Court–this honesty.  For full disclosure, the debtor is able to rid [...]

Hat tip to my New York colleague, David B. Shaev, for the excellent coverage and honest statements. Finally, the news media gets their information about bankruptcy right!

The borrower’s personal liability for a home equity line of credit or a standard second position home mortgage is dischargable in bankruptcy.  A reader of my website Bankruptcy in Brief, emailed me about conflicting input she was getting in her self prepared bankruptcy case.
I learned that the sources of misinformation continue to multiple:  some HUD [...]

Why is it that consumers and small business owners see bankruptcy as a mark of shame to be avoided at all costs when bankruptcy is touted as a new beginning and a positive step for corporate America?  Is there really anything different about “bankruptcy” when the debtor is General Motors than when it is Joe [...]

Two spouses file one bankruptcy case.  They get one trustee, one case number, one meeting of creditors, etc.  But they are still two separate people with two separate bankruptcy estates.
Here’s why it’s important.  If someone dies within six months after a bankruptcy is filed, the inheritance is property of the bankruptcy estate.  However, that inheritance [...]

“I can’t file bankruptcy.  I heard that a trustee will come into my home and take what he wants.” 
Is there anything more frightening than this sentence?  It isn’t true, of course, but the fear is real.
Yes, there is a remote one-in-a-bazillion chance that a trustee can get an order allowing seizure of unprotected property, but [...]

Part 10 of my review of Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know” examines Chapter 15:  No Bankruptcy. The purpose of the review is to examine whether Trudeau,  who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this [...]

You’ve seen commercials that promise that you can get out of debt without bankruptcy.  It’s possible.  But not easy.  And you’ve probably heard from people like Dave Ramsey that bankruptcy is a horrible evil and that you should avoid it at all cost.  Oddly enough, Dave Ramsey himself filed a bankruptcy case years ago when [...]