What Stops a Creditor from Chasing You After Its Debt Has Been Written Off in Bankruptcy?
Even though it’s illegal for creditors to try to collect on a debt that’s been discharged (legally written off) in bankruptcy, once in a while they do try. What makes chasing a discharged debt illegal? And what penalties can get awarded to you if a creditor breaks the law? In my blog a couple […]
Is Your Business Eligible to File Bankruptcy?
Question #1 for cleaning up financially after a failed business: can the business file a bankruptcy without you? Question #2: should it?
Audit Shows Capital One Bank Illegally Filed $24.7 Million in Claims for Debts Previously Discharged in Bankruptcy
One can understand if a major U.S. credit card company forgets that one of its customers had earlier written off their debt in bankruptcy. But forgetting this very important fact for 15,500 of its customers?!? It is bad enough that Capital One lost track that its old debts had been legally written off (“discharged”). […]
Who’s Who in Chapter 7 and Chapter 13
It sure helps in understanding the two main bankruptcy options if you know the cast of characters in each one.
The Usually Easy to Answer First Question for Your Bankruptcy Attorney
In deciding between Chapter 7 and 13, get this question out of the way right away: “Can I keep everything I own if I file a Chapter 7 case?”
Quick Rules about Preserving Your Home through Bankruptcy
When does filing bankruptcy save your home? When is “straight bankruptcy”—Chapter 7—the right tool, and when do you need Chapter 13? If your most important goal is to preserve your home, here’s how each kind of bankruptcy helps (or doesn’t help) in circumstances which may apply to you. 1. If you’re current on your home […]
A Rule of Thumb about Chapter 7 vs. Chapter 13
If you qualify for both Chapter 7 and 13, look closely at how much you’d be helped by Chapter 13 before choosing Chapter 7 merely because it’s simpler.
The Morality of the American Airlines Chapter 11 Reorganization
A corporation which files bankruptcy is considered to be proactively using a strategic business tool. But a human being who files bankruptcy is considered to be irresponsibly breaking promises to creditors. Let’s see if this difference in attitude makes sense using the example of the bankruptcy filing of American Airlines in late November. Selecting […]
The Most Important Choice in Bankruptcy
Chapter 13 costs much more than Chapter 7, takes about 10 times as long, so you do a Chapter 7 if possible, right?
The Purpose of Bankruptcy in the U.S. Constitution
The most respected early commentator on the Constitution fills in some historical gaps about bankruptcy and leads it in a better direction.