Is It Time to Make the Big Bankruptcy Move?

A lot of people are experiencing money troubles right now and some have been struggling for some time. Like many, some have wondered if it was time to declare bankruptcy. Most feel obligated to pay their debts but it can be difficult to know when enough is enough. To help you know whether or not it's time to make the big bankruptcy decision, read on for some factors to consider. [Read More]

The Cast Of Characters In A Chapter 7 Proceeding

When dealing with a Chapter 7 proceeding, it's wise to know who the folks are that you'll be dealing with and what their roles will be. Here are four names you'll hear in the cast of characters when you file for bankruptcy. Debtor This is almost certainly you or an entity that you own. The debtor is the individual who owes money to other parties. When filing under Chapter 7 bankruptcy law, the debtor is asking the court to completely discharge whatever debts are listed in the petition. [Read More]

Understanding The Role Of Your Chapter 7 Bankruptcy Trustee

When your bankruptcy paperwork is received by the federal court, you are assigned a trustee. Bankruptcy trustees are appointed to oversee cases and their roles involve several facets of your case. It's important to know that trustees are not necessarily on your side nor are they adversarial – they are supposed to be neutral, just like a judge would be. Read on to find out more about the role of the trustee and, consequently, about some of the most important milestones you will encounter during the bankruptcy process. [Read More]

Your Intro To Taxes And Bankruptcy

If you're about to declare bankruptcy, you're not alone. Bankruptcy is far more common than many people realize, and chances are there are a couple of people you know who have had to go the bankruptcy route as well. However, that doesn't mean that the process is easy. It is relatively simple when you see everything you have to do, but when you're first starting out, it can be confusing, especially in relation to your taxes. [Read More]