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Will My Creditors Get Paid if I File for Bankruptcy?

Will My Creditors Get Paid if I File for Bankruptcy?

If you file for bankruptcy protection, you must list all of your creditors. This means you must list every bank, organization, entity or individual to whom you owe money. You cannot pick and choose which creditors to include in your bankruptcy schedules and which to...

Why Some Creditors Are Paid in Bankruptcy While Some Are Not

Why Some Creditors Are Paid in Bankruptcy While Some Are Not

Just as some debts are treated differently in bankruptcy – some debts can be discharged (erased) in bankruptcy and some cannot – so too are creditors treated differently in bankruptcy - some creditors are paid in bankruptcy and some are not. Whether or not a creditor...

Weighing the Pros and Cons of Bankruptcy

Weighing the Pros and Cons of Bankruptcy

Bankruptcy is not a one-size fits all solution to debt problems. Filing for bankruptcy protection is a financial decision. It’s a decision that can empower you to take control of your financial future. Bankruptcy is a legal tool that has the power to erase debts. But...

Bankruptcy & Taxes: New Tax Debts Cannot Be Erased

Bankruptcy & Taxes: New Tax Debts Cannot Be Erased

People who are struggling with overwhelming credit card debt often are also struggling to pay back taxes, too. If you’re struggling with overwhelming debt, it may be time to explore if bankruptcy is the right solution to your debt problems. Filing for bankruptcy...

Bankruptcy as a Cooperative Process

Bankruptcy as a Cooperative Process

People who need to file bankruptcy are often concerned about the legal process. It is true that bankruptcy is a complex area of law, but it is not a courtroom battle with your credit card company. In fact, generally speaking, it's a cooperative process. The majority...

Car Loans in Bankruptcy Options: Surrender, Reaffirm, Redeem

Car Loans in Bankruptcy Options: Surrender, Reaffirm, Redeem

One of the main concerns people have when filing for bankruptcy is what will happen to their cars and their car loans in bankruptcy. There are a few options when it comes to your car loan and bankruptcy. Keeping Your Car First, you must determine if you can keep your...

Myth Busters: The Top 13 Bankruptcy Myths

Myth Busters: The Top 13 Bankruptcy Myths

Bankruptcy Myths abound! There are likely a number of reasons why misinformation about bankruptcy is so prevalent. Certainly, credit card companies and big banks are served by the public being misinformed about bankruptcy law, and even scared or ashamed of exploring...

Bankruptcy Forms Are Complex and Mistakes Are Costly

Bankruptcy Forms Are Complex and Mistakes Are Costly

The benefits and legal protections of bankruptcy are vast and bankruptcy forms are complex and mistakes are costly. In exchange for having your debts erased, stopping collection action, and receiving other benefits, bankruptcy law requires that you give full...

Income Tax Debts―How Chapter 13 Can Help

Income Tax Debts―How Chapter 13 Can Help

Bankruptcy is a complex area of law and getting rid of income tax debt in bankruptcy is complicated. To understand your specific situation it will be important for you to meet with an experienced bankruptcy attorney to discuss your potential case. Dischargeable Income...

How Does Filing for Bankruptcy Help People?

How Does Filing for Bankruptcy Help People?

When an individual or married couple is deep in debt due to a job loss, medical emergency, or other life-changing events, filing for bankruptcy might be the best choice for them. While bankruptcy bears the brunt of negative publicity from credit card companies and big...

What Bills Should I Pay During Bankruptcy?

What Bills Should I Pay During Bankruptcy?

Once you file for bankruptcy the automatic stay goes into effect, which is a provision in the U.S. Bankruptcy Code that stops creditors from taking collection action. 11 U.S.C. § 362. The automatic stay puts an end to all collection activity, including collection...

Feeling Harassed?

Bankruptcy should not be a confusing process, we can guide you to financial freedom. It’s time for a fresh start.

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