Consumer Bankruptcy

Changes in Bankruptcy Law

Back in 2005 there was a great deal of publicity about dramatic changes in the Bankruptcy Law passed by Congress and signed by President George W. Bush. The media covered this rather significant event along the lines of indicating that “no one would be able to file bankruptcy anymore”. Like...

How does filing bankruptcy affect my credit?

The impact of bankruptcy on one’s credit after the bankruptcy proceeding is concluded is a common question and concern. Obviously, filing bankruptcy does not help your credit rating. It will definitely help your finances, in that debts will be discharged (eliminated) in the bankruptcy proceeding. However, credit reporting companies will...

Loans Owed to Family Members in Bankruptcy

Quite often when people begin experiencing financial problems, they turn to family for personal loans to pay debts or meet basic living expenses. More often than not, loans from family are unsecured meaning that, unlike a home mortgage or car loan, no collateral is involved in the loan. When filing...

Credit Card Debt and Bankruptcy

After the winter holidays, credit card bills start rolling in and consumers see how purchasing a few holiday gifts can add up to a lot of debt. For people who are already struggling to manage their day-to-day expenses, additional credit card debt incurred over the holidays can be a factor...