It is a good idea to make sure that you don’t have funds in bank accounts at banks you owe money to, particularly if you are going to file for bankruptcy.  Banks will often keep the funds in your account on the day your file for bankruptcy to set off against the debt...

In a Chapter 7 liquidation case, the debtor must relinquish certain property to the bankruptcy trustee so that he or she can sell the property and use the proceeds to pay off debts. Property of the bankruptcy estate is broadly defined under Section 541 of the...

I get this question frequently  in my office.  I found a recent blog post by Attorney Peter Orville of New York that explains it very well: http://www.bankruptcylawnetwork.com/2009/04/30/if-chrysler-can-file-bankruptcy-why-cant-i/

In its next term, the Supreme Court will decide the case of Schwab v. Reilly, USSC Docket No. 08-538, which will resolve an important issue related to debtors’ exemption rights in bankruptcy. The case involves the bankruptcy petition of Nadejda Reilly. Reilly ran her...

The National Association of Consumer Bankruptcy Attorneys was formed in 1992 to: Ensure that the voices of consumer debtors and their attorneys are heard in the halls of Congress, the Judiciary and other arenas affecting consumer debtors; and Help consumer bankruptcy...

...As set out in the Bankruptcy Code, 11 USC Section 527(a) : Rule #2  Everthing you own and every debt you owe must be completely and accurately disclosed in the documents filed to commence this case.  Bankruptcy is not a "pick and choose" proceeding.  You do not...