Choosing Which Bankruptcy Chapter to File Many debtors assume they can choose which bankruptcy chapter to file.  In some cases you can choose which chapter to file, but you'll need to understand qualifications for each chapter before deciding.  Yet, some may not have an option to choose. Bankruptcy laws require debtors to meet income requirements [...]

Experiencing a job loss can really shake things up when you're used to doing things in certain ways.  You are forced to make financial changes that you may not be used to.  It is important to remember that unemployment benefits are available for qualifying workers for a temporary time.  Depending on how long you have [...]

Consumers facing financial difficulties may look to borrow from their retirement plan, but how will this affect your bankruptcy case? It likely depends on which chapter you file and whether or not you plan to borrow from the plan before or after you file. There are several reasons why your decision to borrow from your [...]

Bankruptcy judges have begun to crackdown on bankruptcy petition preparers who have defrauded clients, one such conviction ended with a 27 month prison term. Judges point to cases where preparers pocketed fees but failed to do the work, messed up filings or simply overcharged clients. They have also repeatedly ordered preparers to return fees to clients [...]

How Bankruptcy Can Improve Credit Bankruptcy has been known to help people get a fresh start for several reasons. Filing doesn't make you ineligible to receive credit but it may actually help you obtain the credit you need to help achieve financial goals. During the filing process you're almost debt free and even closer to [...]

Online Business and Bankruptcy Doing business in cyberspace as become more than just a novelty, many successful (and not so successful) internet businesses have become a mainstream reality.  But with the proliferation of internet commerce also comes the proliferation of bankruptcy for these types of businesses. But what happens when internet commerce meets bankruptcy courts? [...]

Risks of Filing Bankruptcy on Your Own It may seem like a simple process but filing bankruptcy on your own could make your situation more challenging than it seems.  Even if you think your circumstances may seem simple, once you get into the process things may become complex when you least expect it.  While it [...]

In both Chapter 7 and Chapter 13 bankruptcy , exemptions play an important role because they help protect personal property from creditors.  When property is exempt, it means creditors cannot pursue it to satisfy outstanding debt.  Each state has its own rules and regulations regarding exemptions with exemptions available on the state and federal level. [...]

While a spouse has the option to file bankruptcy on their own as an individual, the choice could affect the outcome when it comes to property and debt.  It often depends on the state you reside in; either a common law or community property state. Most property acquired during marriage is considered community property.  Equitable [...]

Bankruptcy May be an Option Whether a credit card company or debt collection agency has filed a lawsuit against you, bankruptcy may be an option to help you get relief from collection actions of creditors. When bankruptcy is filed, the automatic stay is enforced; meaning collection attempts against you cease until bankruptcy proceedings are completed. [...]