So, you have no choice but to file bankruptcy, but you own a vehicle worth, say $10,000.00. What will happen if you file bankruptcy?
Your co-workers say you will lose it. That you should value it at less than what it is worth. Your attorney says give accurate values.
What really happens?
If you [...]

I have written in the past regarding eliminating junior lien holders on residential real estate, explaining the mechanics of what is involved.  Nevertheless, in today’s market, I can not stress how common and important it is to remove these liens in most Chapter 13 cases that are filed.
If you liked that post, then try these…Plain [...]

If you have a filed a chapter 7 case, chances are you will not be subject to the means test. Even if you are, it is likely you will “pass” the means test and obtain a discharge of your debts as a matter of course. It is also likely that none of your [...]

The foreclosure process varies state to state, therefore you must speak to an attorney in your area to know your rights. Michael Doan wrote about how long people in California have to get out of their house after a foreclosure has taken place. According to Mr. Doan, people may have six [...]

Uh oh — just as you and your lawyer feared, the chapter 7 trustee has filed an objection to one of the exemptions you claimed on your Schedule C. Although you have a defensive strategy planned, which includes filing a good response and bringing the matter before the bankruptcy judge if necessary, there is [...]

Lawyer John R. Bates of New Philadelphia, Ohio, has published a new website, ExemptionsExpress.Com, which is a phenominal resource for consumer bankruptcy attorneys. He has spent hours and hours compiling the exemption laws for all 50 states.
“Exemptions are the lists of the kinds and values of property that is legally beyond the [...]

The 2005 bankruptcy law changes require all debt relief agents (lawyers) to give every potential client certain notices, the third one warns against fraud and concealment.  Bankruptcy debtors must tell the truth by listing all their debts, income, assets and expenses, but they always had to do that, and the law didn’t add.
By signing the [...]

The Honorable John H. Squires, Bankruptcy Judge of the Northern District of Illinois, says NO!
Michael Mason was popped in Dekalb County IL for possession with intent to deliver over 30 grams of weed.  The Circuit Court set bail at $700 Grand.  Illinois law permits a criminal defendant to post a cash bond of 10 percent.  [...]

The U.S. Court of Appeals for the First Circuit recently issued an important opinion concerning the claiming of exemptions in bankruptcy cases. In re Barroso-Herrans, 2008 WL 1960365 (1st. Cir 2008) the Court heard the appeal of a Chapter 7 debtor who had attempted to exempt proceeds from two collection lawsuits by listing their value [...]

If you are in the Western District of Missouri, Kansas City Division, there are 10 Chapter 7 Trustees. You can never choose the trustee for your case, they are assigned by the Court at the time of filing. So far we have introduced you to Mr. David Stover, Ms. Erlene Krigel, Ms. Janice Stanton and [...]