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Bankruptcy Me Bankruptcy is a real solution for many people. Talk to a lawyer about your debt-relief options—fill out our free bankruptcy case evaluation.

What is Bankruptcy?

Bankruptcy is a tool designed by the government to help individuals and businesses overwhelmed by debt. The process allows debtors and businesses to regain control of their finances by eliminating or reorganizing their debt. It is important to be aware that not all debts may be absolved under the bankruptcy code. Things like child support, back taxes and student loans must still be paid in full. A qualified bankruptcy attorney should be able to explain how bankruptcy may affect your life and help you understand the process for filing in your state.

Chapter 7 and Chapter 13 Bankruptcy
There are two main types of bankruptcy that consumers may file: Chapter 7 and Chapter 13. In Chapter 7 bankruptcy, a person’s non-exempt property (this varies from state to state) is liquidated to pay back debts. Even if a liquidation does not generate enough money to pay back all of your debts, whatever unsecured debts (e.g., credit cards) that remain after liquidation are forgiven. The slate is wiped clean.

In Chapter 13 bankruptcy, a person’s debt is reorganized for repayment. To be eligible for this type of bankruptcy, you must have a steady source of income from which you can make monthly payments to your creditors for the next 3-5 years. How much you have to pay back and what your monthly payments will be are determined by the bankruptcy court and based on things like how much money you owe, how much money your creditors would have received had you filed Chapter 7 bankruptcy, and how much you can afford to pay per month.

When to Consider Bankruptcy
You may want to consider bankruptcy if you are unable to pay the minimum monthly payment on your debt every month, are receiving harassing and threatening phone calls from bill collectors, have recently lost a stream of income, have been diagnosed with a serious illness, or are experiencing some other family emergency that has overwhelmed you with debt that you cannot handle. When you are feeling overwhelmed by debt, it is usually a good idea to consult an attorney to discuss the debt relief options that may be available to you.

Bankruptcy Articles

• Should I File Bankruptcy? - When you find yourself swimming in a sea of debt, barely holding your head above the water, the possibility of ever reaching dry land may seem bleak. Bankruptcy is a type of life raft that will help get you out of debt and create a fresh start toward debt free living.
• What is Chapter 11 Bankruptcy? - Chapter 11 bankruptcy is a type of bankruptcy that allows businesses and individuals to restructure their debt without liquidating their assets.
• Credit Repair After Bankruptcy - If you have recently filed for bankruptcy or are considering filing for bankruptcy, you may be concerned about how to repair your credit after bankruptcy.
• How Can I Protect Myself from Identity Theft? - What makes identity theft so scary is that victims usually do not know their identity has been compromised until considerable damage has been done.
• More Bankruptcy Articles

 

Featured Bankruptcy Site

• Bankruptcy Info Network This site discusses topics like bankruptcy and how filing for bankruptcy will affect your life, credit counseling, identity theft, how to repair bad credit and other issues related to difficult financial situations.

Bankruptcy Forms

Bankruptcy forms vary by state. Please click on "Bankruptcy Forms by State" and select your state to find the correct bankruptcy forms.

• Bankruptcy Forms by State
  
• Reaffirmation Agreement, Motion and Order - For 2005 Act - Rev 1/07
  
• Complaint to Deny Dischargeability of Debt
  
• Statement of Financial Affairs - Form 7 - Post 2005

Bankruptcy Sample Letters

• Sample Letter for Hearing on Motion for Relief from Automatic Stay
• Sample Letter for Debtor's Motion for Hardship Discharge and Notice of Motion
• Sample Letter regarding Answer to Motion for Relief from the Automatic Stay and Abandonment
• Sample Letter regarding Response to Debtor's Objection to Proof of Claim
• Sample Letter for Notice of Motion to Sell Free and Clear of Liens

Bankruptcy Links

• Bankruptcy Forms by State Forms you complete on your computer. You package included all forms needed for filing Chapter 7 or 13, Information and Important Resources. May also be used for Chapter 11 or 12.
  
• American Bankruptcy Institute headlines, news, courts & opinions, debt options,etc.
• BankruptcyData.com Research reports.
• Bankruptcy Info Network
• Bankruptcy Records Find case numbers, civil court number and filings for bankruptcy court proceedings online.
 
• Swigart & Agin Bankruptcy links
 
• Bankruptcy Online Daily news for investors.
• Bankruptcy Resource.com Self-help kit.
• Bankruptcy Statistics From the American Bankruptcy Institute.
• Bankruptcy, Tax Problems & Foreclosures From J.L. Borrie & Associates.
• Bernstein Bankruptcy Law News, resources, services.
• Business Bankruptcy Information News, reports, and information.
• Lender Liability Primer
• Maryland Bankruptcy Bar Association
• National Association of Consumer Bankruptcy Attorneys, Inc.
• National Association of Credit Management

Bankruptcy Attorneys By State

Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District of Columbia Florida Georgia

Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts

Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York

North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas

Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming   Puerto Rico

Featured Bankruptcy Attorneys

Need a bankruptcy attorney?

Houston bankruptcy lawyer Delilah Hanberry understands that declaring personal bankruptcy is not an easy decision for you. Contact her today