When you file any bankruptcy case, one of the biggest advantages is that your creditors are automatically prohibited from attempting to collect on your debts. That means they cannot repossess your car, foreclose on your home, or call you ceaselessly once you file for bankruptcy. In this case, Jason Henry bought a car with a […]
In Chapter 13 bankruptcy cases, there is a general requirement that you pay what you owe to as many creditors as you can for 3 to 5 years. At the end of the plan, you have the opportunity to wipe clean all remaining debts that are “unsecured”, such as credit card debt. Because this only […]
If you file for Chapter 7 bankruptcy, you need to pass a “means test” in order for your case not to be converted to Chapter 13. The idea behind the test is that many debtors used to abuse the bankruptcy system by filing for Chapter 7 bankruptcy and wiping clean their debts when they could […]
Reports estimate that there are somewhere between 7 and 20 million illegal immigrants in the United States. Many have come to the U.S. seeking work, and are often suffering financial hardships. Many would like to seek the relief that bankruptcy can provide. This leads many to ask: can an illegal immigrant file for bankruptcy, or […]
A recent study funded by the National Cancer Institute has analyzed bankruptcy court records along with cancer registry data from almost 232,000 adult cancer cases in Washington over 14 years. While many bankruptcy filings come as a result of medical bills, according to the study, those who live longer have increased rates of bankruptcy. The […]
In re: Bearup, No. A10-00565-HAR (Bankr. D. Alaska, June 1, 2011) In Chapter 7 bankruptcy, the trustee, whose job it is to administer your case, will compile all your property to pay creditors. If the trustee believes you are hiding property or disguising property to avoid it being used in the case, he or she […]
When you file for Chapter 13 bankruptcy, you propose to the court a plan to repay your creditors. During the course of this plan, the court must approve many of your decisions, including the decision to hire a realtor to sell property. The court will want to look at how much you will pay the […]
Considering filing for Arizona bankruptcy? Need a new car? These two things may seem odd to do together, but for many bankruptcy filers, it makes sense to buy a new car before filing for bankruptcy. One reason is that once you file for bankruptcy, it will be difficult to get a loan at all, […]
It is the trustee’s job to administer your bankruptcy case. He’s the one who will try to figure out how much property you own, what can be sold, and how much to pay creditors. He challenges anything in the case he does not agree with, and he holds the all-important creditor meeting. So what’s in […]
Although the point of garnishing wages is to make sure creditors get paid, states that permit it have a higher bankruptcy rate than states that do not. What can you do to prevent or stop wage garnishment? If you do not pay your bills, a creditor can sue you to collect what you owe. If […]
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