Tag Archives: #BankruptcyLaw

What are some bankruptcy exemptions?

One of the biggest fears associated with filing for bankruptcy is the fear of loss. While one is facing severe financial struggle, it can be scary to realize that there’s a chance you’ll be losing most of your property. Filing bankruptcy under Chapter 7 means that you’ll be gathering your property and assets, and you’ll be preparing to sell these items to pay off as much debt as possible before the rest of the charge is eliminated. Fortunately, bankruptcy law protects certain kinds of property from being sold during this process. These are called exemptions, and it’s vital to know what exemptions you’ll have. What Are the Exemptions? Every state has its own set of bankruptcy exemption laws, so it’s important to know which specific exemptions apply to your state laws. However, there are some common bankruptcy laws that any person interested in filing for bankruptcy should be aware of:…
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What Should I Do Before Filing for Bankruptcy?

There is a lot to consider if you are thinking about filing for bankruptcy. The first determination you should make is that bankruptcy is the best way for you to deal with your financial problems. Bankruptcy is an incredibly valuable tool to help you dig yourself out of a financial hole, but every case is different. As such, you will want to go through your finances with someone who is familiar with the field of bankruptcy – your attorney. Before you file, there are some things you have to do first. Within the 180 days prior to your bankruptcy filing, you must receive budget and credit counseling from an approved credit counseling agency. During this counseling, you and your counselor will go over all possible options for your finances and budgeting. Once you complete the counseling, you will receive a certificate stating that you received the counseling. You need this…
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Is My Bankruptcy Filing Public? Will Everyone I Know Find Out?

Bankruptcy can carry with it a certain stigma, despite how useful it can be in helping people dig themselves out of their financial struggles. And when considering bankruptcy, you might wonder: will other people be able to find out that you filed? Are bankruptcy filings public? Yes, actually. Most court records, including bankruptcy filings, are public. But, that does not mean that just anyone can access all of your personal information. Typically speaking, your friends, family and acquaintances are not going to find out about your bankruptcy filing unless you tell them yourself. There is a public access system known as PACER that contains information about bankruptcy filings throughout the U.S. But to access this system, you are required to register and pay per page of documents you obtain. As such, the average citizen will not be able to see your bankruptcy filing. However, your creditors and co-debtors will find…
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