consumer bankruptcy

What Are the Differences Between Chapter 7 and Chapter 13 Bankruptcy?

– Posted in: consumer bankruptcy
After Careful Consideration, Bankruptcy May Be a Powerful Option

Filing a bankruptcy petition is the declaration of one's inability to pay back loans or debts. It’s also a plea to the bankruptcy court for legal assistance and protection. Bankruptcy is found right in our Constitution, and after dealing with Great Britain’s oppression and debtor’s prisons, bankruptcy still exists today to provide Americans a “Fresh [...]

What is the Chapter 7 Bankruptcy Means Test, and How is the Test Applied?

– Posted in: consumer bankruptcy
The Means Test is Complicated

In 2005 Congress enacted changes to the bankruptcy code.  These changes were intended to make bankruptcy harder.  To make it harder, and more helpful to creditors, Congress developed a Means Test to determine whether a debtor can file for Chapter 7 bankruptcy protection.  Debtors deemed ineligible for Chapter 7 are often forced to file a [...]

How Does Bankruptcy Affect My Credit?

– Posted in: consumer bankruptcy
Asset Acceptance to Make Greater Use of Credit Reports When Deciding to Sue

There are two main consumer bankruptcy Chapters which you can use to obtain a “fresh start.”  Chapter 7 Bankruptcy is the most common example of consumer bankruptcy and is utilized when you can no longer pay your creditors.  Under Chapter 7 Bankruptcy, your possessions are liquidated in order to pay off your creditors.  However, you [...]

Consumer Bankruptcy Provides a Fresh Start

– Posted in: consumer bankruptcy

Tough economic times have caused millions of American consumers to experience extreme financial problems and out-of-control debt.  Consumer bankruptcy may be a viable solution for those consumers who just need a financial fresh start.  Consumer bankruptcy was designed to provide consumers who are overwhelmed with debt a way to reduce, eliminate, or reasonably pay back [...]

Capital One Flouts Bankruptcy Laws

– Posted in: consumer bankruptcy, consumer news
Capital One Violates Bankruptcy Laws and Tries to Collect Discharged Debts

Capital One, a major issuer of credit card debt, is fully subject to the bankruptcy laws.  Despite its sophistication as a major lender, it routinely flouts the Bankruptcy Code according to sources.  Courts and bankruptcy administrators had begun investigations of Capital One to determine if its unlawful conduct is intentional and to what extent it [...]