Book: Battling Debt Anxiety

Will bankruptcy brand me as a complete failure? If you’re feeling down in the dumps because of financial problems, don’t despair! You’re in good company! Take a look at this list of very famous people who filed for bankruptcy or endured severe financial hardship before the modern bankruptcy code was adopted. Keep in mind that […]

Bankruptcy is an ancient right. Medieval church law provided for the discharge of debt in exchange for the liquidation of all but one’s necessary assets. This led to the enactment of the first bankruptcy laws in merry old England and was a precursor to our modern Chapter 7 bankruptcy law. But even that advancement was […]

Many clients ask about the differences between the various chapters in bankruptcy and whether they have a choice in determining under which chapter they will file. The answer is, as in many things in life, it depends. Qualifying for a Chapter 7 case (liquidation) will require that either: (1) the debtor’s household income falls below […]

Although most folks looking for relief from overwhelming debt would prefer the “quick and dirty” Chapter 7 discharge, there are several reasons why filing under Chapter 13 and making payments for 3-5 years might be preferable. Of course, those households with over-the-median income will likely have to file a Plan anyway and may not have […]

If you make more than the median income for your household size and cannot pass the Means Test, you may be unable to qualify to file bankruptcy under Chapter 7. Most debtors who do not clear these two hurdles will then opt for filing under Chapter 13 and perform a Wage Earner Plan for the […]

Most people contemplating bankruptcy obviously are in a financial bind. As a result, it is natural that one of the questions they ask of a bankruptcy attorney is how much it will cost to file. While this desire to keep the cost as low as possible is understandable, those considering bankruptcy should be aware that […]