Bankruptcy is a legal proceeding that allows an individual who is unable to pay his bills to get a fresh financial start. The codes seek to balance the rights of the creditor to get paid and aiding the financially distressed consumer seeking relief. Since 2005 a "means test" was added to the laws to ensure debtors with the ability to repay be required to pay some or all of their debts. Full disclosure of financial information is required before bankruptcy relief.
Bankruptcy may make it possible for you to:
Eliminate legal obligation to pay most or all debts. This is called "discharge" of debts.
Stop foreclosure on your house/mobile home and allow opportunity for you to catch up. Bankruptcy does not automatically eliminate mortgages and other liens on your property without payment.
Prevent repossession of a car or other property.
Bankruptcy cannot, however, cure every financial problem. Nor is it the right step for every individual. Please consider other alternatives before seeking bankruptcy relief. Educate yourself on the process.
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Reduce your debts, save your property -- and start over! Are you behind on your mortgage, taxes or other bills? Are creditors threatening foreclosure or repossession? This boo more...
Reduce your debts, save your property -- and start over! Are you behind on your mortgage, taxes or other bills? Are creditors threatening foreclosure or repossession? This book will show you how to save your house, car and other assets with Chapter 13 Bankruptcy. It lets you cancel your debts and pay off the rest with an affordable repayment plan. And now you can avoid attorney fees and do it yourself -- let Chapter 13 Bankruptcy show you how to: determine if you qualify for Chapter 13 stop a house foreclosure estimate monthly payments devise an acceptable repayment plan complete and file forms make up missed mortgage payments pay off other debts represent yourself before a bankruptcy judge or trustee The 9th edition is completely rewritten to reflect the recent (and massive) changes to federal bankruptcy law, as well as the latest bankruptcy exemption laws of your state. It also includes the most current legal documents and instructions on filling them out. Whether you work with a lawyer or file on your own, you'll find everything you need to take charge of your debts in Chapter 13 Bankruptcy. Please note: This book does not cover business bankruptcies, farm reorganizations or individual repayment plans (Chapter 13). For Chapter 7 bankruptcy, see Nolo's How to File for Chapter 7 Bankruptcy. less...