This article will try to answer the questions, What Is Bankruptcy and how can bankruptcy help with debt issues? Bankruptcy is a legal proceeding filed in the United States Bankruptcy Court.  If you cannot pay your bills and your creditors are calling, or if you fear losing your home in foreclosure or your car to

Automobile Leases In Chapter 7 Bankruptcy

Have you have ever considered Chapter 7 Bankruptcy but wanted the answer to the question: What Happens To My Automobile Lease In A Chapter 7 Bankruptcy? We hear that question all the time. This article explains what happens to your automobile lease after you file Chapter 7 bankruptcy. If you have an automobile lease when

How Do I Stop Foreclosure?

If You Are Three Or More Months Behind On Your Mortgage Payments, You Need Help Now. Mortgage Modification & Bankruptcy or two powerful tools that you can use to stop foreclosure. Save your home.

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Which Debts Do I Pay First?

When you don’t have enough money at the end of the months to pay your bills, what do you do?  If you don’t pay all your debts, there may be serious consequences for you and your family. Which debts should you pay first?  You should pay your debts in the order of their importance and

Figure 1THINGS EVERY CHAPTER 13 DEBTOR SHOULD KNOW A chapter 13 bankruptcy case is a long process. There is little pleasure to being a debtor or a claim holder in a Chapter 13 bankruptcy case. It requires commitment, patience, and determination to complete a plan. Bankruptcy may not be the best long-term best choice for

Bankruptcy Information Sheet

  The Bankruptcy Information Sheet is available in many languages. Follow this link to find a translated copy of the Bankruptcy Information Sheet in your language. BANKRUPTCY LAW IS A FEDERAL LAW. THIS SHEET GIVES YOU SOME GENERAL INFORMATION ABOUT WHAT HAPPENS IN A BANKRUPTCY CASE. THE INFORMATION HERE IS NOT COMPLETE.  YOU MAY NEED LEGAL

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Alternatives to Chapter 7 Bankruptcy

Bankruptcy is a powerful tool for individuals and their families to eliminate debt and to recover from financial hardship. But, filing chapter 7 bankruptcy has risks attached to it. It may not be the best solution for the debt problems that some debtors have. First, chapter 7 generally won’t help you stop a foreclosure or

Is Debt Discharged in Bankruptcy Taxable?

Generally, when you borrow money, you may deposit a check in your bank account.  If you use a credit card, you receive money, property or services.  In both cases, you receive something and own a debt to a creditor.   The Internal Revenue Service (IRS) does not consider the value of the money, property or services

What is a Debtor Education Course?

In order to receive your final discharge in a Chapter 7 Bankruptcy or Chapter 13 Bankruptcy, every debtor must obtain Debtor Education Training from an approved Debtor Education Provider. The purpose of the debtor education course is to teach you how to manage money and use credit wisely after bankruptcy.  Debtor education and credit counseling