By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7Well, you can! When a celebrity or famous person files a Bankruptcy case we (Bankruptcy lawyers) hit the Twitter and social media waves, and our Blogs (like this one) with the news, because if a celebrity can do it you certainly should not feel bad about it! Right?!? We also get good google hits for… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7In this prior post, we discussed Exemptions in Bankruptcy and why very few people actually lose property to the Bankruptcy Trustee (mainly in Chapter 7 cases). The primary reasons that people filing for Bankruptcy do not lose property is because they either do not have property that could be sold for a significant amount, or… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7When people buy a house, they probably consider it the biggest investment of their life to that point. It is probably also their largest debt. For homeowners facing Bankruptcy, the most important question they have in initial meetings with lawyers is whether they will be able to keep their house after they file. One important… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 11,Chapter 13,Chapter 7If you are reading about or researching Bankruptcy, you have no doubt run across the terms “Petition” and “Schedules.” What are they? Good question! The Bankruptcy Petition is the document that gets you in the door of the Courthouse and officially creates your Bankruptcy case. The minute the Petition is filed, the automatic stay is… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 13,Chapter 7As we have written in this Blog, finding a good Bankruptcy lawyer is the first and most important step of filing a Bankruptcy case or exploring whether filing for Bankruptcy is necessary. The age of the internet and social media has allowed lawyers and other professionals to create websites, Blogs (such as this one), and… Continue Reading
By Scott Riddle Posted in Bankruptcy BasicsThe word “Bankruptcy” has a few definitions in the dictionary. In its most basic form, it means not having enough money to pay one’s debts and living expenses. The word has its origins in the Latin term banca rotta, which means “broken bench” (signifying the insolvency of a moneylender). This Blog focuses on the legal… Continue Reading
By Scott Riddle Posted in Bankruptcy Basics,Chapter 7Chapter 7 Bankruptcy is one of the two most common types of Bankruptcy filed by individuals (the other being Chapter 13). The major distinction between the two is that there is no payment plan in a Chapter 7 case and a typical Chapter 7 cases only lasts about 4 months instead of 3-5 years for… Continue Reading
