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Filing for bankruptcy can get you immediate protection for many actions taken by creditors, including a landlord who you may owe rent to. This protection is called an “automatic stay.” Landlords, similar to most other creditors, are covered by this automatic stay because the law stops “any act to obtain possession of [your] property” or …
Continue reading “Will Filing for Bankruptcy Stop a Rental Eviction?”
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Filing for bankruptcy is never an easy decision. Although many different factors can impact each consumer’s decision, one common consideration is what will happen to debt owed to friends and family members. Most people who are looking to file bankruptcy often first look for ways to protect personal relationships and pay off those close to …
Continue reading “Should I File Bankruptcy If I Owe Friends and Family?”
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On December 9th Senator Elizabeth Warren and House Judiciary Committee Chairman Jerrold Nadler introduced the Consumer Bankruptcy Reform Act of 2020 (CBRA) in both the House and the Senate. The Act would represent the most significant overhaul of the consumer specific provisions in the Bankruptcy Code since the Bankruptcy Abuse Prevention and Consumer Protection Act …
Continue reading “What Is the CBRA: Consumer Bankruptcy Reform Act?”
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Bankruptcy is generally a last resort decision for most people. When you make the decision to file Chapter 7 bankruptcy, chances are money is tight. The last thing you may want to do is to spend money to hire an attorney to handle the bankruptcy filing. The law may not require you to hire an …
Continue reading “Dangers of Filing Chapter 7 Bankruptcy Without an Attorney”
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Filing Chapter 7 bankruptcy impacts your property, including any cash you may have in the bank. You can keep any property that is exempt under bankruptcy laws. For example, there is an exemption for vehicles up to a certain value. There is a tools of trade exemption. There is even an exemption for your house. …
Continue reading “What Happens to Cash In the Bank After Filing Chapter 7 Bankruptcy?”
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