Bankruptcy Information





Personal Bankruptcy San Jose Silicon Valley California    Personal Bankruptcy      Personal bankruptcy is commenced by an individual filing Chapter or The most common is Chapter The debtor is allowed to exempt certain property from liquidation by the trustee The list of exempt property includes homesteads household furniture and furnishings jewelry clothing interests in an automobile tools of the trade pensions insurance policies a wild card or grubstake exemption of and other assets Individual states are allowed to opt out of the federal exemptions and provide their own lists Exemptions can thus vary widely from state to state      The automatic stay goes into effect immediately upon the filing This stay prohibits any act to collect money or take property from the debtor It stops wage garnishments foreclosures repossessions and the like The stay usually remains in effect throughout the case Reasons for Denial of Discharge of Debts      The individual debtor usually is discharged from legal liability for his debts and receives a fresh start A discharge will be denied for improper activity including Transferring property prior to bankruptcy to defraud creditors Failing to list assets or debts Destroying financial records Failing to explain loss of assets Failing to

   Personal Bankruptcy Information     Your online reference source for bankruptcy           California Bankruptcy     You may also want to visit your local federal bankruptcy court web site                                                                                       Bankruptcy Information is believed reliable but accuracy and completeness are not guaranteed Nothing in this web site is intended as or should be used as a substitute for professional financial or legal advice © Bankruptcy Information All Rights reserved Portions of this site reference the U S government publication Bankruptcy Basics

   Personal Bankruptcy Information     Your online reference source for bankruptcy           Getting Started     The stated goal of federal bankruptcy law is to provide the honest debtor with a fresh start To help you determine if you need a fresh start you can use our to determine how long it will take to pay off your credit cards if you do nothing A bankruptcy case is commenced by the filing of a petition You must also file a statement of your assets and liabilities and schedules listing your creditors The property a debtor can keep through the bankruptcy is determined by the specific exemptions available under state law Bankruptcy Information allows you to search for In addition residents of are allowed to choose instead of state exemptions Before deciding the appropriate course of action one may wish to explore and review our list of to gain a bettor understanding of the bankruptcy process                                                                                

     Get an informational road map to personal and business bankruptcy law from bankruptcy specialists This site will help debtors and creditors understand how bankruptcy proceedings work both before and after the dramatic changes that are effective   We begin exploring the major and point out tools and commentary The amended law controls only cases filed on or after October Check the publication date in the lower right corner of any information found here; material dated before the effective date of BAPCPA may not reflect all the facets of bankruptcy today This site cannot replace the advice of an experienced bankruptcy lawyer It can help you and a bankruptcy professional We also talk about the issues in Explore there are over pages of questions and answers procedure explanations and links to other resources here   Follow the footprints to take our tour on Chapter for individuals For legal advice specific to your situation see a                Legal issues and bankruptcy questions are frequently complex and individual   The information contained here is intended to be educational only   it is not legal advice nor does it create an attorney client relationship between the viewer and the firm

Law Office Of Mark J Markus New Bankruptcy Laws Bankruptcy Information In my years of dealing with Congress on bankruptcy legislation this is the worst I've ever seen It's the kind of bill that makes you want to point your fingers at individual congressmen and say 'Shame on you ' the late Prof Lawrence P King NYU Law School concerning thenew bankruptcy law bill then being considered by the United States Senate; quoted in The NewYork Times March IMPORTANT INFORMATION    The new bankruptcy law officially misnamed the bankruptcy abuse prevention and consumer protection act or BAPCPA resulted from many years of intense lobbying by banks and financial institutions   The new laws were passed and signed into law by President Bush   The provisions of the new laws became effective for cases filed on or after October However the new bankruptcy laws did not eliminate bankruptcy nor did it do many of the negative things that rumors suggest   The new laws are indeed tricky with lots of traps and pitfalls but with the assistance of an you can still accomplish most if not all of the same things as you previously could under the old laws  In some cases you



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