by garywojtan | Aug 29, 2009 | Bankruptcy
Bankruptcy is a legal procedure for dealing with the debt problems of individuals and businesses. This procedure is covered under Title 11 of the United States Code (the Bankruptcy Code). The vast majority of cases are filed under the three main chapters of the...
by garywojtan | Aug 29, 2009 | Bankruptcy
Personal bankruptcy generally is considered the debt management option of last resort because the results are long lasting and far-reaching. A bankruptcy stays on your credit report for 10 years, and can make it difficult to obtain credit, buy a home, get life...
by garywojtan | Aug 29, 2009 | Bankruptcy
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government-approved organization within 180 days before they file. They...
by garywojtan | Aug 29, 2009 | Bankruptcy
Most debtors who file a bankruptcy petition, and many of their creditors, know very little about the bankruptcy process. This glossary on bankruptcy terminology explains, in layman’s terms, many of the legal terms that are used in cases filed under the...
by garywojtan | Aug 29, 2009 | Bankruptcy
The Servicemembers’ Civil Relief Act applies in bankruptcy cases. It provides protection to members of the military against the entry of default judgments and gives the court the ability to stay proceedings against military debtors. Background The...
