Personal Bankruptcy Laws For Dummies

Editorial Reviews. From the Back Cover. With tips on understanding — and surviving — the new bankruptcy laws. If you're considering bankruptcy, you need .
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Living on the Edge in Chapter 13 Bankruptcy. Staying Out of Financial Trouble.


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The Part of Tens. Ten Common Bankruptcy Mistakes. Ten Common Questions about Bankruptcy. Caher, a practicing attorney with 30 years ofexperience, is a nationally recognized expert on consumerbankruptcies and authority on the Bankruptcy Abuse Prevention andConsumer Protection Act of Jim coauthored, with his brother John, Debt Free! In addition, Jim has published scores of articles for bankruptcyprofessionals and is frequently called upon to analyze andinterpret the complicated provisions of the bankruptcy law.

Jim also serves on the editorialboard of the American Bankruptcy Institute. Jim graduated from Niagara University and then earned his lawdegree from Memphis State University Law School, where he was amember of the Law Review and recipient of the AmericanJurisprudence Award for Excellence in the field of debtor-creditorrelations. He filed his first consumer bankruptcy case shortlyafter graduating in Jim lives and practices in Eugene,Oregon. Chapter 13 is probably the way to go in any of these situations: Advantages of Chapter Advantages of Chapter 13 over Nonbankruptcy Repayment Plans: Filing Chapter 13 is usually better than repayment agreements worked out by consumer counseling outfits because: Nonbankruptcy repayment plans usually require you to pay your debts in full except perhaps some interest.

Nonbankruptcy plans typically do not address those debts. With a new and remarkably obtuse new law on the books, even attorneys and judges struggle to figure out just what Congress meant when it rewrote the bankruptcy code. Filing bankruptcy is not the time to rely on paralegals and document preparation services. Prior to changes in the bankruptcy law some folks did manage to successfully file bankruptcy without a lawyer, but things have changed — dramatically!

Finding a Good Lawyer: So how do you go about finding one? You can check with friends and relatives who have filed bankruptcy, and if you already know a reputable attorney whose firm does not handle bankruptcy cases, he is likely to know a good source of advice. That approach can skew their judgment.

Personal Bankruptcy Laws For Dummies, 2nd Edition

In a Chapter 7 bankruptcy, all attorney fees must be paid before filing. You can pay fees over an extended time period in a Chapter 13 filing. Some handle a high volume of cases on an assembly line basis, relying heavily on paralegals. Others opt for a lower volume of cases with more personal contact between lawyer and client.

Go with whichever makes you more comfortable. Lawyers who specialize in personal bankruptcy are usually more efficient and tend to charge less and do a better job than lawyers who just file an occasional bankruptcy case. Additionally, the court can give you an additional five days if you really need it. Whether you receive counseling in person, over the phone, or online, you still need your certificate — as well as a copy of any repayment plan drawn up during your counseling session.

Further, if any creditor or trustee so requests, you must hand over to the bankruptcy court all federal income tax returns that you file with the IRS while your bankruptcy case is open. You can get an extension of up to days. Trustee-approved course in personal financial management.

Within about ten days after the filing of your bankruptcy petition, the court sends notice to all of your creditors using the address you provided in your schedules , informing them of your case, announcing the appointment of a case trustee who represents the interests of the creditors and setting the date for a meeting with creditors the so-called meeting. The one and only time in most bankruptcies where you and your creditors might come face to face is at the meeting. As a condition of getting your debts wiped out in either Chapter 7 or Chapter 13, you must complete an approved course in personal financial management after you file bankruptcy, but before your case is closed.


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The sooner you get started, the better. In Chapter 7, you have to complete the course within about 60 days after the meeting. Then you can start reading Kindle books on your smartphone, tablet, or computer - no Kindle device required. To get the free app, enter your mobile phone number. Sponsored Products are advertisements for products sold by merchants on Amazon. When you click on a Sponsored Product ad, you will be taken to an Amazon detail page where you can learn more about the product and purchase it.

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Questions about Bankruptcy

Learn more about Amazon Prime. With tips on understanding -- and surviving -- the new bankruptcy laws If you're considering bankruptcy, you need straightforward answers and reliable advice. This handy guide covers it all -- so you can get your finances in line and your life back on track. This updated new edition covers everything you need to know about the new bankruptcy law and includes even better resources.

Don't get desperate -- get out of debt instead! Read more Read less. Kindle Cloud Reader Read instantly in your browser.

Personal Bankruptcy For Dummies - James P. Caher, John M. Caher - Google Книги

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