Bankruptcy Insights & Analysis

Bankruptcy (For Debtors Only)

Bankruptcy (For Debtors Only) The decision whether to file for bankruptcy is often fraught with fear and shame. It doesn’t need to be. In fact, it shouldn’t be. Consider this: If Thomas Jefferson filed for bankruptcy protection (and he did), it might behoove you to toss out the moral guilt and consider your situation anew. […]

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FAQs for Individual Debtors

FAQs for Individual Debtors Where can I get basic information How much does bankruptcy cost? Do I need to pay the entire fee up front? Can I file without my spouse? How long does it take? Will this affect my credit score? Is information about my bankruptcy case publicly available? What if I don’t qualify […]

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What Must a Chapter 13 Plan Do?

What Must a Chapter 13 Plan Do? When a debtor cannot file for bankruptcy under Chapter 7, either because he cannot pass the means test, because of a too recent prior bankruptcy, or other reason, he usually will file for protection under Chapter 13 of the Bankruptcy code. Chapter 13 is somewhat like Chapter 7 […]

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Chapter 11 Summary

Chapter 11 Summary A primary difference between a Chapter 7 liquidation and a Chapter 11 reorganization is that the Chapter 11 estate is generally managed by the debtor (called a “debtor in possession” — “DIP”) instead of a trustee.  A second primary difference is that the DIP is given a chance to reorganize his, her […]

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Homesteads and Bankruptcy Planning: the best laid plans of mice, men and debtors….

Homesteads and Bankruptcy Planning: the best laid plans of mice, men and debtors… While bankruptcy planning is permitted, changes made to the bankruptcy code in 2005 have constrained efforts to convert non-exempt assets into a homestead exemption.  New section 522(o) provides that the value of an interest in a homestead exemption is reduced to the extent […]

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