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A bankruptcy is the last option any businessman wants to take. They can cause a big dent on their credit rating and deeply ruin their reputation. But sometimes filing for bankruptcy is the only solution to get a person out of dire straits. Here are the nine steps to be followed in filing a bankruptcy: 1. See to it that there is no other solution that you can do to avoid filing for bankruptcy. Bankruptcy allows for a fresh start. Under the Bankruptcy Abuse Prevention and Consumer Protection Act ("BAPCPA"), which significantly amended the U.S. Bankruptcy Code effective October 17, 2005, prior to filing a bankruptcy case, an individual must
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Lastest "bankruptcy discharge" News:

Discharging Student Loan in Bankruptcy Requires Major Hardship
Student loan debt is not easy to walk away from. In fact, private and federal student loans are not eligible for discharge in a bankruptcy filing unless you can prove that paying them would produce an 'undue hardship.'
Tue, 24 Jan 2012 07:46:32 -0800

Bankruptcy Attorney Firm Macey Bankruptcy Law Says Unfair Collection Practices Could Have Been Prevented
CHICAGO, IL-- - According to the Fair Debt Collection Practices Act and the United States Bankruptcy Code, it is illegal to pursue debts that have previously been dissolved by a bankruptcy court judge. ...
Tue, 10 Jan 2012 15:35:00 -0800

Lender auctioned off home: What now?
Dear Bankruptcy Adviser,I had filed Chapter 7 bankruptcy, and the lender went and asked for relief from the court and sold the house in an auction before the case was discharged. Is that legal? Can I get ...
Tue, 10 Jan 2012 00:01:33 -0800



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Filing bankruptcy is a common practice among the U.S. Over 2 million people file for bankruptcy every year. So many families today are swimming in debt, which is not surprising with the amount of credit that is being offered. If you pay your bills, you're given the opportunity to run up more bills. For young people, this is often too much responsibility to handle. Many people choose bankruptcy in order to gain a fresh start. However, bankruptcy leaves you with a bad record. This makes it harder to buy a house, a car, or any other big-ticket item soon after
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