Before the Bankruptcy Abuse Prevention Consumer Protection Act on October 17, 2005, renters facing eviction could file bankruptcy to buy a little more time and try to work things out with their landlord. But now bankruptcy protection from eviction is extremely limited and expensive. If a tenant has lost an eviction hearing and has a [...]
When filing for chapter 7 bankruptcy, many debtors find that money is so limited that they cannot afford the bankruptcy filing fee. If a debtor filing for Chapter 7 bankruptcy is in this situation, he/she may be able to have the bankruptcy filing fee waived. A provision of the Bankruptcy Abuse Prevention and Consumer Protection [...]
It is important to note that all the assets of a sole proprietor and the assets of their businesses will be considered ONE when a debtor files for Chapter 13 or Chapter 7 bankruptcy . In other words, all of your business assets will become a part of the bankruptcy estate when filing for personal [...]
Bankruptcy and Inheritance According to bankruptcy law, if a debtor receives an inheritance within 180 days of filing for bankruptcy, that inheritance becomes the property of the bankruptcy estate. In this case a debtor will be required to disclose to the bankruptcy trustee and debtors that they received an inheritance. The bankruptcy law calculates the [...]