Before 2005, anyone could apply for bankruptcy and get their debts erased, if a judge ruled in their favor. That led to some people abusing the system by filing bankruptcy when they actually had enough money to pay their debts. But all of that changed when the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) […]

There are two types of bankruptcy filings for individuals: Chapter 7 or Chapter 13. Chapter 7 is the one that most people have heard about—it’s the one where debts get written off, never to be seen again. Chapter 13 is the reorganization bankruptcy were debts are arranged into a three to five-year payment plan. It […]

If your financial situation has spiraled out of control and creditors are calling you night and day, you’re probably getting desperate for a drastic solution. For many, the option that comes to mind is bankruptcy. If you’re considering bankruptcy, there are a few things you should know. Chapter 7 doesn’t get rid of all debts. […]

  Almost 820,000 bankruptcy filings took place in 2015. If you’ve received the dreaded notice that a customer filed bankruptcy, there are a few things that you absolutely must do. A customer’s bankruptcy filing doesn’t necessarily mean that you don’t have any rights and that you won’t get any payment on the amount the customer […]

If you’ve found yourself sinking in debt, bankruptcy can start to look like an attractive option. Yes, you will lose credit and assets, but you will also be able to pare down your debt and get relief from harassing creditor calls. Some people try to file bankruptcy without the help of a lawyer, but there […]