The Petition requesting relief and the Schedules of assets, debts, income, and expenses are the key documents filed in your bankruptcy case.
What’s Credit Counseling & Debtor Education?
These two requirements are quite straightforward to accomplish, but can trip you up if you don’t take care of them when you need to.
Bankruptcy Roles: Debtor, Creditor, Lawyers, Clerk, Trustee, and Judge
Bankruptcy is a lot easier to understand and much more comfortable to go through when you know who’s who.
Treatment of “Priority” Debts under Chapter 7
Here’s what happens to “priority” debts in an “asset case.”
Three Kinds of Debts
Your debts can be “secured,” “priority,” or “general unsecured.” How bankruptcy treats your debts depends on which kind they are.
Judgment Liens that Can Be “Avoided”
Bankruptcy can’t get rid of most creditor liens on what you own. But judgment liens that can be “avoided” on your home are an exception. Our last blog post was about judgment liens, why they are so dangerous, and how both Chapter 7 and 13 types of bankruptcy can deal with them. Today’s blog post explains what determines whether a … Read More
Timing Your Bankruptcy: “Preference” Payments
You may have extra motivation and greater ability to repay a personally important debt this time of year. But maybe you shouldn’t.
Chapter 7 vs. Chapter 13–Remove Judgment Liens from Your Home
An underappreciated benefit of filing bankruptcy is that you can usually remove judgment liens from your home’s title.
Louisville Bankruptcy Explained: What’s “Debtor Education”?
“Credit counseling” has to be done shortly before filing bankruptcy, “debtor education” shortly after. The latter may even be worthwhile.
Louisville Bankruptcy Explained: What’s “Credit Counseling”?
This is a usually an easy hoop to jump through, but do it with the right timing.
Louisville Bankruptcy Explained: “Converting” from Chapter 13 to Chapter 7
The decision to file a Chapter 13 case may be an easier one if you know that you can always change it into a Chapter 7 one if needed.
Louisville Bankruptcy Explained: “Conversion” from Chapter 7 to Chapter 13
The ability to convert to a Chapter 13 case can be extremely important if something unexpected happens soon after filing a Chapter 7 case.
Does My Spouse Have to File Bankruptcy with Me?
You can file bankruptcy without your spouse, but the better question is whether it is wise to do so.
What Do I Need to Disclose to the Bankruptcy Court?
You don’t like the idea of disclosing your financial life to the bankruptcy court. Can’t it be done with some privacy?
Crucial Question: How Can I Use an Unprotected “Non-Exempt” Asset to My Benefit Even Under Chapter 7 “Straight Bankruptcy”?
Give your asset to the Chapter 7 trustee to pay a very special creditor. Either because you donât need that asset or itâs your best option.