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Recent Posts in Filing for Bankruptcy Category

Chicago Hit hard by Foreclosures

Like other big cities Chicago has been hit hard by the foreclosure epidemic sweeping the nation. The city experienced a twenty percent increase in bank repossessions of foreclosures in 2010, amounting ...
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Chapter 13 Repayment Plans

There is a long list of requirements when you decide to file for Chapter 13 bankruptcy protection. However, the basis of your success will be dependent on the repayment plan. This must be submitted at ...
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Chapter 7 Bankruptcy Exemptions To Be Aware Of

When you file for Chapter 7 you should become aware of the exemptions that are built into this type of bankruptcy. Depending on the state where you file different types of property will be eligible ...
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5 Out of Every 1,000 Americans Filed for Bankruptcy in 2010

The total amount of bankruptcy filings for 2010 increased eight percent from 2009 amounting to 1.53 million bankruptcies in the US. That means that five out of every 1,000 Americans filed for ...
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Newt Gingrich Proposes that States Should be Allowed to File for Bankruptcy

In a radical move Newt Gingrich, former Speaker of the House, is putting his political weight behind a new bill that would make it possible for states to file for bankruptcy. If this were made ...
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Reasons to Consider Chapter 13 Bankruptcy

Although the popular opinion about filing for bankruptcy is that Chapter 7 is preferable to filing for Chapter 13, there are many reasons to choose the latter. When you opt for Chapter 13 bankruptcy ...
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The Means Test for Chapter 7

If you plan on filing for Chapter 7 bankruptcy you must first become familiar with means testing. This refers to federal laws that determine whether you are eligible for filing for Chapter 7 ...
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What is a Discharge in Bankruptcy?

According to the United States bankruptcy laws, a discharge will release an individual from liability for his or her debt. Once debt has been discharged through the bankruptcy process, the individual ...
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Paperwork Required to File for Chapter 7

In order to file for Chapter 7 bankruptcy, you will have to complete several forms including a petition. You will also have to fill out a statement of financial affairs and several schedules. The law ...
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