What is a bankruptcy trustee?

A trustee in a bankruptcy case is an individual appointed by the courts to oversee and deal with a bankruptcy petition. The trustee is typically an attorney and is selected from a list of eligible trustees. This individual is trusted to be impartial and handle many responsibilities throughout the bankruptcy process.  However, it is beneficial for your bankruptcy attorney to...

Read More

What are non-dischargeable debts in bankruptcy?

In bankruptcy law a a discharge is a release of personal liability of a debtor from certain debts.  A bankruptcy discharge varies depending on the type of bankruptcy being filed (Chapter 7,11,12,13). There are certain debts that can never be discharged.  You will still owe on these debts. These non-dischargeable debts include . . . Unscheduled debts – This means...

Read More

What is the difference between Chapter 7 and Chapter 13 Bankruptcy?

Many people considering bankruptcy need clarifications about what their options are before filing with the courts.  Depending upon your income and level of debt owed you will want to weigh whether you will qualify for a Chapter 7 Bankruptcy – sometimes called Liquidation or a Chapter 13 Bankruptcy – sometimes called an Adjustment of Debts.  Let’s look at the basic...

Read More

Seniors and Bankruptcy

Debt problems can effect people at all ages.  Failing pensions, rising cost of health care and the general weakness of the economy can cause the financial “perfect storm” – especially for the elderly.  Seniors should be enjoying their golden years but unfortunately unforeseen circumstances can lead many to consider filing for bankruptcy.  Always discuss your situation with a qualified bankruptcy...

Read More