As the number of bankruptcy filings increase, many pundits are pointing fingers at indebted Americans who seek bankruptcy protection and saying that they are somehow driving up interest rates, ruining businesses and getting over on their creditors while their neighbors are forced to pick up the tab.  These accusations leveled against bankruptcy debtors couldn't be [...]

There is a lot of folklore and myths about bankruptcy that prevents too many Americans from seeking the debt relief they need.  Below are three of the most damaging beliefs about bankruptcy that every debtor needs to banish from their minds: Bankruptcy is an embarrassing thing to do.  Just stop it.  Don't believe this notion [...]

When filing bankruptcy, the bankruptcy court requires that the debtor list ALL of their assets and all of their liabilities in their bankruptcy petition.  The debtor must not only list his/her assets but they may also be required to list the replacement value of certain assets.  This is often where debtors run into trouble.  They [...]

Many debtors take on lots of overtime and part-time jobs in an effort to repay their debts before they eventually realize that their debts are impossible to repay and decide to file bankruptcy.  But filing bankruptcy while working over-time or a part-time job may have some implications that debtors should consider. By working over-time and/or [...]

 America's unemployment rate remains unchanged at 9.5 percent and that's just counting those who are actively searching for employment. Another 16.5 percent of American workers are underemployed, working part-time or temporary jobs when they would prefer full-time work.  Many economists are now saying that it will take years for America to recover the jobs lost [...]

Many long-term unemployed debtors are feeling particularly discouraged as job figures look less promising this year than they did at the beginning of the recession. Many have been unable to pay their bills or even their mortgage for a year or more. For these individuals, securing the basics has become their priority and their creditors [...]

Many businesses are suffering during this recession, past due bills, defaulting on loans, creditor lawsuits and clients who can no longer pay for their services and/or products are pushing many businesses to the brink of bankruptcy.  But can a recession battered business survive using bankruptcy or at least save the personal finances of the entrepreneur [...]

BP has already begun making moves to head off a series of lawsuits that could be coming down the pipeline from residents and businesses in the Gulf region directly impacted by the oil spill.  The company has already become setting aside $20 billion in a fund designed to pay out lump sums to those who [...]

If you talk to the scores of homeowners facing foreclosure and workers facing long-term unemployment, there seems to be a recurrent theme.  Debtors are willing to pay as much as they can to satisfy outstanding debts but creditors are unbending in their unwillingness to help.  Credit card lenders unwilling to drop minimum payment requirements temporarily [...]

Whether you file a Chapter 7 bankruptcy or a Chapter 13 bankruptcy , there are certain assets that are exempt from seizure by the bankruptcy estate and creditors. Exemptions are determined by federal and state bankruptcy law; an experienced bankruptcy attorney can help a debtor figure out how they can maximize their exemption rights. However, [...]