Bankruptcy in Brief a service of the Moran Law Group Can I file bankruptcy without a lawyer? Remember the old adage that he who represents himself has a fool for a lawyer ? There is some truth there The paralegal services and on line bankruptcy providers try to characterize filing bankruptcy as just filling out forms That's just as true as seeing tax preparation as just filling out forms and the tax forms come with instructions written for the non professional Bankruptcy forms don't The more assets you have to lose in a botched bankruptcy the more it is worth your while to pay a lawyer to protect them in a bankruptcy proceeding when you represent yourself The bankruptcy amendments of have now studded the Bankruptcy Code with situations in which of cases is automatic and the relief available when you refile is strictly limited The new in October are difficult to get through and easy to bungle Congress was upfront that it wanted to discourage consumers from filing bankruptcy and made the process substantially more complex and the consequences of mistakes more costly Chapter is not well suited for debtors in pro per since it has lots of

Bankruptcy in Brief a service of the Moran Law Group Can I keep my house through bankruptcy? An overriding concern for many contemplating bankruptcy is whether they will lose their house in the process What happens to a house is a function of several issues but in general if the equity in the house is and you can keep making the payments then you can keep the house Equity is exempt If there is no non exempt equity in your home the trustee won't attempt to sell the house to pay your creditors If there is more than nominal non exempt equity consider Secured debt survives The bankruptcy discharge eliminates your personal liability for the mortgage but it does not disturb the Thus after bankruptcy the mortgage lender still has its rights in the property including the right to foreclose if you breach the loan agreement But just filing bankruptcy is not a breach of the agreement in many jurisdictions failing to make the payments according to the loan agreement is a breach So make the payments keep the house This may change when changes to the bankruptcy laws become effective in Oct The statutory provision that filing bankruptcy

What is bankruptcy? Bankruptcy is a legal proceeding in federal bankruptcy court by which a person who has more debts than he or she can pay seeks relief from those debts The right to file a bankruptcy exists under the law and this law was designed mainly to take care of serious problems with debts and to allow a fresh financial start The most common type of bankruptcy is straight bankruptcy You may also hear it referred to as a Chapter or liquidation proceeding A person who files for bankruptcy relief is referred to as a debtor In a straight bankruptcy a trustee sells the debtor's property and uses the sales proceeds to pay creditors The result of a successful bankruptcy proceeding is a discharge in bankruptcy which releases the debtor from payment of affected debts Most of the information in this pamphlet deals with a straight bankruptcy proceeding There is also a special type of bankruptcy called Chapter bankruptcy It is also sometimes referred to as a wage earner plan although it is available to persons on welfare or with other kinds of regular income In a Chapter plan a person continues to pay off debts under an

raquo raquo raquo raquo raquo Q A Browse Bankruptcy Law Resources Articles FAQs raquo raquo raquo raquo Bankruptcy Law Consumer Bankruptcy Chapter Bankruptcy Page of How often can I file for bankruptcy? The technical answer is that you can file as often as you like but you may not get the result you want especially because of the post October changes in the bankruptcy law A debtor cannot obtain a discharge in a Chapter case if the debtor obtained a discharge in laquo raquo laquo raquo Need More Help or Advice? bull bull bull bull bull Free Case Review Post your case and have it reviewed by up to qualified attorneys NO Cost NO Obligation Get Legal Forms Law Forums Law News at Thu Mar AM EST Thu Mar AM EST Wed Mar AM EST raquo FreeAdvice reg has been providing millions of consumers with outstanding advice free since While not a substitute for personal advice from a licensed professional it is available AS IS subject to our FreeAdvice reg and are units or affiliates of All Rights Reserved copy

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