The Making of a Consumer Warrior

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Understanding the Means Test for New York Chapter 7 Bankruptcy Fillings

Chapter 7 bankruptcy is often filed by individuals or businesses that do not have significant assets and investments. Any property that is non-exempt by law may be sold by a bankruptcy trustee and the proceeds distributed amongst creditors. The process for filing Chapter 7 bankruptcy is determined by both federal and state law in New York, up to and including exemptions.

Bankruptcy At A Glance

The average consumer knows very little about the bankruptcy process and what they do know is often heavily influenced by misconceptions. In fact, many people fear the process simply because they have heard concerning issues raised, most of which hold no truth and are false. In any case, getting to know the basics of the process and how it works is the best way to be prepared in the event you suffer a financial hardship and require bankruptcy protection.

Is Bankruptcy a Good Solution for Me?

Are you bombarded in debt and feeling like there is no way out? Have you gotten yourself into a situation with school debt or personal debt that you can't get your way out?

Benefits of Filing For Chapter 13

Filing for bankruptcy is not an easy decision for anyone. However, for many people suffering overwhelming debt burdens it can be a great tool for obtaining a fresh start. One of the most important aspects of filing for bankruptcy is knowing which bankruptcy case to file. In general, debtors are advised to seek a Chapter 13 bankruptcy over a Chapter 7 whenever possible.

Some Things to Consider About Bankruptcy

Many people have come to the realization that they are no longer able to handle their credit card bills. This is when they turn to other means of help such as credit card settlement companies, and when that does not work they begin to research their bankruptcy options.

Big Names In Business Bankruptcy Filings

While the economy has continued to bruise our wallets and personal debt loads, even businesses are having a tough time fighting the effects of a downtrodden economy. Although personal bankruptcy filings have dropped over the last year, it seems as though there has been an increase in business filings.

Chapter 13 - How to Save Your Assets

Chapter 13 can protect assets and help individuals to get out of debt. It does have long term implications and it can be a long process, but for some, it is worthwhile.

Chapter 13 - Why It Is Better for Some

Chapter 13 is a type of debt reorganization bankruptcy. It can and does help people to get back on track financially but it is something to consider carefully due to its implications.

Knowing How to Declare Bankruptcy

Buying a car after bankruptcy might not be a strategic thing to do, especially if a person is running under a tight budget. See, being in this state of financial incapacity requires modest spending, and a clear mind in order to plan the way spending is going to be in the immediate future, or until the situation gets better. For all of these things to be possible, it is essential for everyone to absolutely know how to declare bankruptcy as most people see themselves stuck in a never-ending cycle of being forced or harassed to pay for...

Important Changes To Bankruptcy Laws

Bankruptcy laws dictate several important aspects about the process. In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act was implemented, making some significant changes to the laws.

What Is Chapter 7, 11, 13 Bankruptcy Law?

Bankruptcy is available to debtors who have a large amount of debt that they cannot pay. Bankruptcy is a procedure that gives debtors a fresh start. While bankruptcy law is governed by the Bankruptcy Code, substantive rights are governed by applicable state law. Exemption laws vary by state and determine what property is protected from creditors.

What To Know About Bankruptcy Fraud

The bankruptcy process is not always easy for consumers to navigate. Because of all the strict rules and requirements it isn't uncommon for a consumer to make a mistake, some of which could be costly. In some cases, people unknowingly engage in an action that the court deems to be fraudulent. When this happens, a debtor may find themselves in hot water or even without the help they needed to begin with.

Securing A Mortgage After Bankruptcy

Many people are concerned about how their futures will be affected after filing for bankruptcy. While some aspects of your financial life may be more challenging following a bankruptcy discharge, you are by no means marked with a scarlet "B".

When Filing For Bankruptcy, Don't Be Tempted To Commit Bankruptcy Fraud

Bankruptcy fraud is a big problem in the United States. It is very tempting to commit because, if successful, it can let the transgressor illegally profit with thousands of dollars to which they should not be entitled.

Before Bankruptcy Mistakes and Traps

Filing for bankruptcy can be a difficult process, especially for those who haven't prepared ahead of time. In fact, preparation is a key part in determining the success or failure of a bankruptcy case.

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