Bankruptcy News

The Latest Bankruptcy Law News

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  • Before You File for Personal Bankruptcy: Questions to Ask when Choosing a Cedit Customer.
    • It’s wise to do some research when choosing a credit counseling organization. If you are in search of credit counseling to fulfill the bankruptcy law requirements, make sure you receive services only from approved providers for your judicial district. Check the list at www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm or at the bankruptcy clerk’s office for the district where you [...]
  • Before You File for Personal Bankruptcy: Pre-bankruptcy Counseling
    • A pre-bankruptcy counseling session with an approved credit counseling organization should include an evaluation of your personal financial situation, a discussion of alternatives to bankruptcy, and a personal budget plan. A typical counseling session should last about 60 to 90 minutes, and can take place in person, on the phone, or online. The counseling organization [...]
  • Before You File for Personal Bankruptcy: For More Information and Assistance
    • The U.S. Trustee Program promotes strength in the nation’s bankruptcy system by enforcing bankruptcy laws, providing oversight of private trustees, and maintaining operational excellence. The Program has 21 regions and 95 field offices, and oversees the administration of bankruptcy in all states except Alabama and North Carolina. For more information – www.usdoj.gov/ust. If you have concerns [...]
  • Before You File for Personal Bankruptcy: Post-Filing Debtor Education
    • A debtor education course by an approved provider should include information on developing a budget, managing money, using credit wisely, and other resources. Like pre-filing counseling, debtor education may be provided in person, on the phone, or online. The debtor education session might last longer than the pre-filing counseling – about two hours – and [...]
  • Before You File for Personal Bankruptcy: Counseling and Education Requirements
    • As a rule, pre-bankruptcy credit counseling and pre-discharge debtor education may not be provided at the same time. Credit counseling must take place before you file for bankruptcy; debtor education must take place after you file. In general, you must file a certificate of credit counseling completion when you file for bankruptcy, and evidence of completion [...]
  • Before You File for Personal Bankruptcy: Information About Credit Counseling and Debtor Education
    • The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization 180 days before they file. They also must complete a debtor education course to have their debts discharged. The Department of Justice’s U.S. [...]
  • A Growing Collection of Bankrutpcy Information
    • We are providing a great deal of bankruptcy information for those considering, or just researching, bankruptcy.  This growing collection of information includes the complete bankruptcy code, and future sections will cover debt and all consumer options surrounding bankruptcy. Federal Bankruptcy law benefits both debtors and creditors by seeing that debtors get debt relief and creditors collect [...]
  • Bankruptcy Means Test
    • Changes to the bankruptcy law in 2005 added a “means test.” The means test keeps filers with higher incomes from filing for Chapter 7 bankruptcy. Some people believe you must be completely broke to file chapter 7, but that is not the case. Actually, most people who would have qualified before the [...]
  • History of Bankruptcy
    • “At the end of every seven years you shall grant a remission of debts. This is the manner of remission: every creditor shall release what he has loaned to his neighbor; he shall not exact it of his neighbor and his brother, because the LORD’S remission has been proclaimed.” – Deuteronomy 15:1,2 The origin of the [...]
  • Bankruptcy Terms (a-d)
    • adversary proceeding - A lawsuit arising in or related to a bankruptcy case that is commenced by filing a complaint with the court. A nonexclusive list of adversary proceedings is set forth in Fed. R. Bankr. P. 7001. assume - An agreement to continue performing duties under a contract or lease. automatic stay - An injunction that automatically stops lawsuits, [...]
 
 

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