Much of the fear or uneasiness associated with bankruptcy stems from not knowing or understanding what to expect and what the actual process will be.  With that in mind I thought I would go step by step through the bankruptcy process in your typical Chapter 7 and Chapter 13 bankruptcy cases.
The Process of Pre-Filing
Much of

Starting today, Thursday August 20th, banks must start complying with part of the Credit Card Act of 2009.  Some of the initial requirementsare that banks must mail monthly bills at least 21 days before payment is due on the card, and by providing at least 45 days notice before making any significant changes to interest

Foreclosures climbed to a record high for the third time in five months in July.  July’s foreclosure rate was up 32%  when compared to this time last year and up nearly 7% from June 2009.  Arizona is third in the nation behind Nevada and California when it comes to foreclosures.  One in every 135 households

A precept in bankruptcy is generally that unsecured creditors should be treated similarly in your bankruptcy case.  For example, if you have ten credit cards and file for bankruptcy, each of the credit cards will get, if anything, the same amount — regardless of the amount that is owed on each specific card.  Thus we run

When I visit with clients about filing bankruptcy, nearly everyone I meet  is at the end of their financial rope and are resorting to bankruptcy when all hope of recovery is gone.  In much of my reading on bankruptcy there seems to be a new approach to bankruptcy, what it offers, and how the Bankruptcy

A common question I get from those contemplating bankruptcy is if they can continue to use their credit cards prior to filing bankruptcy or what effect their recent use of their credit cards will have on their bankruptcy case.  In regards to the first question, my recommendation is don’t continue to use your credit cards

Generally speaking there are two options available to individuals seeking bankruptcy protection: a Chapter 7 bankruptcy or a Chapter 13 bankruptcy. The 7 and 13 found in the title of these bankruptcies refers to the chapter of the bankruptcy code which governs that particular type of bankruptcy. A Chapter 7 case is generally

In filing a bankruptcy case, the goal of the filer is to obtain a discharge. The discharge is essentially an order of the bankruptcy court that permanently bars creditors from seeking payment on certain debts. While most debts are discharged through the bankruptcy process, student loans are an exception to this rule.