Recent News
What happens at the bankruptcy meeting of creditors or 341 meeting ?
http://www.youtube.com/watch?v=lpyB04uhf-Y This video, produced by the Office of the US Trustee, gives an example of what typically happens at a "meeting of creditors" or "341 meeting" in a typical Chapter 7 consumer bankruptcy case. If you think bankruptcy may be an...
What happens if I have sold or transferred something right before I file bankruptcy ?
Always, always share with your attorney anything you have sold, conveyed, transferred or otherwise taken out of your name within 2 years prior to filing bankruptcy. Most of the time, it will be an issue that will cause no problems with your bankruptcy filing. Other...
Can you go to jail for not paying your debts ?
In other words, can debt collectors use the courts to hold debtors in contempt with jail time ? This technique has been used to success by a collection attorney here in South Central Kentucky. It is occurring in other states as well. I haven't seen it lately, but have...
Debt Consolidation Companies versus Chapter 13 Bankruptcy
If you have decided to utilize the services of a debt management or debt consolidation company, keep in mind that you may be much better off consolidating your debt under Chapter 13 of the United States Bankruptcy Code. You set the plan approved by the Court and make...
Bankruptcy and Pay Stubs
If you are considering filing bankruptcy, you will be asked to provide your bankruptcy attorney (yes, you should use an attorney and not file the bankruptcy yourself ... more on that in other posts) with the last 6 months of your pay stubs if you receive a paycheck...
Vehicle Redemption in Chapter 7 Bankruptcy
During a Chapter 7 bankruptcy all unsecured debts are discharged. Debts that are secured by collateral (e.g. car loans) must be paid or the collateral must be returned to the lender. Occasionally an individual considering Chapter 7 bankruptcy will own a vehicle that...