There are some situations in which bankruptcy is the best option available to those struggling with debt problems. If you are considering bankruptcy, it is very important to know as much about the law, the short- and long-term ramifications, and what rights you have as a consumer. Here are some plain language articles that can give you the important information you need to make an educated decision.
This information sheet contains information about many provisions of the Bankruptcy Code that may affect your situation. However, this page states only general principles of law and is not a substitute for legal advice.
Bankruptcy education is required by law before a person can file for bankruptcy. This is commonly referred to as a bankruptcy pre-filing course.
Is Bankruptcy An Option For Me?
Bankruptcy today is considered the court of last resort. Think about filing for bankruptcy only after you have worked through every other available method of repaying your debts.
Chapter 13 bankruptcies are intended to arrive at a repayment plan. Chapter 7 bankruptcies are straight bankruptcy plans designed to liquidate the debtor's assets.
Bankruptcy today is considered the court of last resort. Think about filing for bankruptcy only after you have considered every other available method of repaying your debts..
To qualify for relief under Chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity.
Chapter 13 offers individuals a number of advantages over liquidation under Chapter 7. Perhaps most significantly, Chapter 13 offers individuals an opportunity to save their homes from foreclosure.
Chapter 13 offers individuals a number of advantages over liquidation under Chapter 7. Perhaps most significantly, Chapter 13 offers individuals an opportunity to save their homes from foreclosure.
The prospect of bankruptcy can be confusing and stressful. Here are a few key terms to help you educate yourself before filing.
How out-of-control is your debt problem? Learn what you can do about it.
Bankruptcy Courses
InCharge Debt Solutions, a 501(c)(3) nonprofit organization, offers the required pre-filing and pre-discharge courses for a nominal fee.
Pre-Filing Bankruptcy Credit Counseling: Before filing bankruptcy you must first complete the required Pre-Bankruptcy Counseling briefing.
Pre-Discharge Debtor Education: After filing bankruptcy, you must complete a debtor education course prior to discharge of your debts.