Although filing Chapter 7 bankruptcy usually wipes the slate clean as far as most of your debts are concerned, there are some debts that may not be discharged. 
Certain debts, such as most taxes, child or spousal support, and student loans usually survive the Chapter 7 discharge.  Debts incurred through fraud, may also survive the discharge.  And in [...]

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 [...]

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 [...]

For many years, it was questionable whether a debtor who filed for chapter 7 relief was able to keep expensive real estate at the expense of paying other creditors.  At least 5 cases have come down since the new laws passed in 2005 that held that such high expenses related to residences was an “abuse” [...]

Should you file a Chapter 7 bankruptcy or a Chapter 13 bankruptcy?
The answer to the question of what type of bankruptcy to file is that it depends on your financial circumstances.
A Chapter 7 bankruptcy and a Chapter 13 bankruptcy are really designed for two different types of debt situations.
If you liked that post, then try these…Missouri Chapter [...]

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.  [...]

If a creditor sends a letter to you after your discharge, they may be violating the Bankruptcy Code - even if they include language saying it’s just for informational purposes.
The recent case of In re BIRAKOYE NASSOKO, Case No. 07-11966 (ALG) (SDNY 2009) involved a car lender that sent a consumer a payment demand comtaining [...]

Your decision to file for bankruptcy should involve a great deal of thought and discussion with both your loved ones as well as your legal counsel.  Once filed, a bankruptcy carries with it some significant consequences.
First, your credit will be affected if you are bankruptcy for one day, one month, one year, or longer.  Credit [...]

It is not uncommon for debtors to have attorney fee claims against themselves and/or future property of the estate.  The most common example is an attorney fee lien agreement on a personal injury case.  In the event of recovery in those cases, the attorney typically receives 33% or more of the gross settlement or judgment.
Recently, [...]

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 [...]