If your finances are coming apart at the seams and your mailbox, inbox and voicemail are filled with collection notices from your creditors, you may be thinking about filing a bankruptcy. But, like...
December 18, 2015
Bankruptcy,
Chapter 7
All property in which the debtor holds an interest at the commencement of bankruptcy is part of the estate pursuant to 11 U.S.C. §541(a)(1). A debtor is required to surrender to the trustee all...
September 1, 2015
Chapter 13,
Chapter 7,
Chapter 11
July 15, 2015
Bankruptcy,
Chapter 7
Chapter 7 Bankruptcy is known as the liquidation chapter, but this nickname is not really appropriate. In the vast majority of cases, liquidation never occurs. The Federal Bankruptcy Code and State...
July 13, 2015
Bankruptcy,
Chapter 7
A chapter 7 debtor (as opposed to a trustee) may bring such actions for his or her own benefit (as opposed to for the benefit of the debtor's estate) in limited circumstances. To bring the avoidance...
July 1, 2015
Bankruptcy,
Chapter 7,
Chapter 11
Recent financial struggles facing the Texas Rangers baseball team have brought attention to the issue of involuntary bankruptcy proceedings. Creditors holding roughly $525 million in debt accrued by...
April 21, 2015
Bankruptcy,
Chapter 7
Chapter 7 Trustees are compensated in two ways. First, they receive a flat $60 fee per case. Second, in the event there are assets to liquidate, the trustee will receive "reasonable" compensation in...
December 5, 2014
Bankruptcy,
Chapter 13,
Chapter 7
Chapter 13 Following Chapter 7 Bankruptcy
If you have recently filed for a chapter 7 bankruptcy and received a bankruptcy discharge but want to find a way to keep your home from a potential...
September 19, 2014
Bankruptcy,
Chapter 7
When an individual or family decides to take the steps to end their financial challenges, they might face other issues. While filing for bankruptcy is often a real and reliable debt relief option,...
June 30, 2014
Bankruptcy,
Chapter 13,
Chapter 7
Most people have a basic understanding of the difference between a chapter 7 bankruptcy and a chapter 13. Simply put, in a chapter 7 case, most debtors are not paying anything to creditors. In...