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Bankruptcy Semantics »

Bankruptcy law is a very specialized area of the law.  Like the practice of medicine, the practice of law has become increasingly specialized, and bankruptcy is one of the areas of the law that demands specialization.  It is difficult, if not impossible, to maintain an acceptable level of competence without specialization.  When a professional specializes, [...]

Do I Have to File Bankruptcy with My Spouse? »

While many married couples file bankruptcy jointly, there is no requirement that they do so.   You are entitled to file your own, separate, bankruptcy, just as you are entitled to your own credit rating.
A joint filing is advisable when both parties are responsible for a significant amount of debt, whether or not the debt is [...]

Is Chapter 13 the Answer, or Are You Kidding Yourself? »

L. Jed Berliner’s recent post, Bankruptcy, Mortgages and Miracles, got me thinking about when a Chapter 13 is appropriate in order to stop a foreclosure.  Chapter 13 can be a last, and sometimes only, chance to save your home.  But when is Chapter 13 the right choice?
First, some basic facts about what a Chapter 13 [...]

In Chapter 7, Can I Keep My Car? »

If I file Chapter 7 bankruptcy, I can’t lose my car, can I?
I hear that question from clients all the time, in one form or another. Many people assume that if they have only one car, that car can’t be taken to pay their debts. After all, in most parts of this country, [...]