Personal Bankruptcy

When a person or business files for bankruptcy, creditors file claims for payments on the debts they're owed. There are different types of claims, and not all are treated equally in any giv ... Read more

Senior citizens can face debt problems, but many property exemption laws protect them from creditors, making filing for bankruptcy unnecessary. Learn when erasing debt in a senior bankruptcy ... Read more

Find out what it means to be judgment proof, why creditors can't obtain money or property from a judgment-proof debtor, and when a judgment-proof debtor might not need to file for bankruptcy ... Read more

The highest creditor claim priority is an administrative expense. The bankruptcy trustee pays administrative expenses before other priority claims, such as domestic support obligations and s ... Read more

The automatic stay is an order put in place that prevents creditors from engaging in most debt collection activities after a debtor files for bankruptcy. Creditors that violate the automatic ... Read more

Learn about the debts that don’t go away when you file for bankruptcy, called “nondischargeable” debts. Typical nondischargeable debts include support obligations, recently incurred ta ... Read more

You'll include your business credit card in your bankruptcy if you are personally liable for paying the debt and a balance exists on your corporate credit card. Find out more about what will ... Read more

When you file for bankruptcy, you can protect some or all of your property using your state's exemption law. Learn how to keep your property with state and federal bankruptcy exemptions that ... Read more

One bankruptcy option many people use is Chapter 13, which reorganizes your debts with a repayment plan to get finances under control. Repayment plans span three to five years, and your bank ... Read more

Find out about the bankruptcy options available to married couples. ... Read more

Find out what personal bankruptcy is, whether you qualify to eliminate debt in bankruptcy Chapter 7 or 13, and how filing for bankruptcy might solve your financial problems. ... Read more

After filing for bankruptcy, you'll attend a hearing to verify your identity and answer questions from the trustee and creditors at the 341 creditors meeting. Learn about the process involve ... Read more

A bankruptcy court could dismiss your case for many reasons, such as a showing of fraud or if you haven't met eligibility requirements or failed to file required documents. Find out about th ... Read more

Learn where to file your Chapter 7 or 13 bankruptcy case and whether you'll use the federal or state bankruptcy exemption laws to protect your property. ... Read more

There are no limits as to how often you can file for bankruptcy. However, time limits do apply to how often you can receive a discharge of your debts in bankruptcy. If you've received a bank ... Read more

A bankruptcy case might be a good remedy for your tax woes. A bankruptcy case might be a good remedy for your tax woes. Learn when you can eliminate tax debt in Chapter 7 and how to pay tax ... Read more

Whether you'll qualify to have your debt wiped out in a Chapter 7 bankruptcy, or be required to enter into a Chapter 13 repayment plan, depends on how much money you make. ... Read more

This step-by-step explanation of the Chapter 7 bankruptcy process teaches you how to determine whether you should file for Chapter 7 bankruptcy, how to prepare the bankruptcy petition, and w ... Read more