Chapter 7 Is Much Harder To File Since 2005

December 1, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Back in 2005, Congress put the bankruptcy code through some big changes trying to make it harder for people to file for Chapter 7 bankruptcy. The intent was to put a crimp in the bankruptcy plans of those who have been abusing the system. Since the changes in the 2005 bankruptcy code, people need (read on...)



Chapter 7 Vs Chapter 13 Under The New Bankruptcy Code

November 23, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Since bankruptcy laws changed in 2005 it has been quite a bit harder to file Chapter 7 for the debtor. Critics of the bankruptcy code, prior to the changes, complained that filing bankruptcy was just too easy. Many of these critics, obviously also creditors, lobbied with Congress for changes to (read on...)

Using A Bankruptcy Attorney Or Doing It Yourself

November 21, 2010 by  | Leave a Comment Filed under: Bankruptcy 

In the recent years, the bankruptcy law has seen many changes. The biggest change was when Congress enacted the 2005 bankruptcy code. Since then there has been numerous changes year-to-year. When looking for information on bankruptcy, it’s important to check more than one website to check (read on...)

How to Handle Going Bankrupt

November 19, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Bankruptcy is the legal term filed by an individual or an organization and business when there is inability of the debtor to pay their debts. Individuals drowned by debts are due to a number of factors including medical expenses that can arise from recent hospitalization due to accidents and (read on...)

A History of United States Bankruptcy Acts, 1978-2005

November 12, 2010 by  | Leave a Comment Filed under: Bankruptcy 

With the passage of the 2005 Bankruptcy Act, it became more difficult for many people to file bankruptcy and receive relief from their creditors. It also became more expensive for almost everyone to seek this legal remedy, due to the numerous new burdens placed on attorneys and filers in (read on...)

Preferential Transfer of Assets

November 4, 2010 by  | Leave a Comment Filed under: Bankruptcy 

If you are facing bankruptcy in the near future, your creditors could attempt to get their hands on your assets and property before bankruptcy is actually filed. This is referred to as “preferential transfer.” Creditors do this because they receive more this way than when your assets (read on...)

The Pros and Cons of a Chapter 13 Bankruptcy

November 3, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Individuals who are willing to pay their debts within 3-5 years qualify for the Chapter 13 bankruptcy. This chapter is crucial as it is helpful for individuals that want to retain some or all of their assets. This form of bankruptcy in some cases offers a better solution over the conventional (read on...)

Reaffirming Debts In A Chapter 13 Under The New Bankruptcy Code

October 26, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Since the passing of the 2005 Bankruptcy Code, Chapter 13 bankruptcies are now being filed at the lowest rate since the law was amended. After changing the code, Congress is wondering what is happening. First of all, you need disposable income for a Chapter 13 bankruptcy plan, and with the (read on...)

Filing For Bankruptcy On Student Loans Is Next To Impossible

October 23, 2010 by  | Leave a Comment Filed under: Bankruptcy 

Up until the1990s, the bankruptcy code allowed you to include student loans when filing for bankruptcy. It became a widespread problem when too many individuals were trying to avoid repaying federal lenders. By 1998, because of the losses to the government, the criteria was changed for (read on...)

Foreclosure in a Bankruptcy Filing

October 20, 2010 by  | Leave a Comment Filed under: Bankruptcy 

When you’re considering filing bankruptcy there are some major differences between the chapters you should know. The main difference between a Chapter 7 bankruptcy and a Chapter 13 bankruptcy filing, is that Chapter 7 does not involve the creating of a plan of repayment as in Chapter 13. (read on...)