Frequently Asked Questions

What kinds of debt problems are solved in bankruptcy?

Bankruptcy is a proceeding to resolve and reconcile debts and assets, but the reality of bankruptcy is that it is used to eliminate certain debts, pay off other debts, and put on hold some other kinds of debts.   What kinds of debts are eliminated in bankruptcy?   Most unsecured debts are eliminated in bankruptcy. […]

What does bankruptcy do for you?

Bankruptcy is a tool, guaranteed to everyone in the U. S. Constitution, that you can use to get back on track with your financial life during your lifetime. For the problems bankruptcy can efficiently solve, there is no faster or more thorough option.   Bankruptcy brings all of your creditors together with all of the […]

What does it mean to declare bankruptcy

What does it mean to declare bankruptcy?   To declare bankruptcy means you file a court proceeding in the United State Bankruptcy Court for the district that is appropriate for you based on your residence.   In the court documents, you list your debts and assets, and some other information, and you notify all of […]

Signs of being bankrupt

So if you are bankrupt, or fear you are, what are some signs to take stock of your situation?   COLLECTION CALLS – When you get backed up on your debts, the phone rings. And rings. And rings. It is often the same handful of debt collectors asking you for a payment over and over […]

What does it mean to be bankrupt?

The “B” word. What is it to be bankrupt?   Let’s start with that it means to be bankrupt. To be bankrupt means that your debts outweigh your assets. Picture the scales of justice. On the one side of the scale is all your stuff – ALL of it. Your clothes, cars, money, house, income […]