Bankruptcy Law

Bankruptcy Laws and Process

Bankruptcy is a legal procedure started by an individual or a business that is unable to pay their debts and seeks to have the debts discharged or reorganized by the courts. Typically, these laws focus on helping individuals solve their debts after they have suffered heavy losses. Please read our blogs for more information or the latest news on bankruptcy issues.
  • What’s the Difference?
    by brian winters on November 20, 2018 at 8:22 pm

    There are differences between a Chapter 7 bankruptcy (“liquidation” or “straight bankruptcy”) and a Chapter 13 bankruptcy (the “wage earner’s bankruptcy”).  While a Chapter 7 bankruptcy

  • Withholding Judgment
    by brian winters on November 20, 2018 at 7:59 pm

    Sometimes debtors are described as “judgment proof.”  This means that creditors will have difficulty collecting debt against them because their property is legally exempt or they

  • Bankruptcy Can Eliminate Tax Debts!
    by brian winters on November 20, 2018 at 7:39 pm

    Most bankruptcy filers will continue to owe tax debts at the end of a Chapter 7 bankruptcy.  However, it is possible to discharge debts for State and

  • Consider the Alternatives
    by brian winters on November 20, 2018 at 7:30 pm

    If a debtor does not qualify for a Chapter 7 filing, there are financial options other than Chapter 13 bankruptcy, but they have their own downsides

  • Ways and Means
    by brian winters on November 20, 2018 at 7:18 pm

    In order to qualify for Chapter 7 bankruptcy, which discharges most of a debtor’s unsecured debt (personal loans, credit cards, etc.), the debtor must pass a

  • The Costs of Bankruptcy
    by brian winters on November 20, 2018 at 7:13 pm

    It may seem somewhat ironic to anyone considering filing for bankruptcy that he or she is expected to pay exorbitant fees to file.  Fortunately, filing costs

  • Going Public Or Keeping Private
    by brian winters on November 20, 2018 at 5:00 pm

    Even thought it may make perfect financial sense for them to file for bankruptcy, some people avoid filing because they feel embarrassed or ashamed.  This is

  • More Than Cosigners Bargained For
    by brian winters on November 20, 2018 at 4:37 pm

    Loan cosigners should know that if the primary borrower does not pay the debt and files for bankruptcy, the cosigner will be responsible for the debt. 

  • Are You Responsible For Business Debt?
    by brian winters on November 20, 2018 at 4:30 pm

    Any consideration that a business owner gives to filing for bankruptcy hinges on whether he or she is personally liable for the debt incurred by his

  • Starting Over
    by brian winters on November 20, 2018 at 4:21 pm

    Those who consider their debt obligations to be insurmountable might want to contemplate filing for bankruptcy as a means of starting over.  Some people think that

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