How Bankruptcy Works – The Bankruptcy Process

What is Bankruptcy? Bankruptcy laws in the United States derive from Article One, Section 8 of the Constitution, which provides that "Congress shall have the Power. . .[t]o establish uniform laws upon the subject of bankruptcies." For the first 110 years or so of our Nation, Congress passed bankruptcy laws that were only in effect for about 15 of those years. Initially, there were debtor's prisons, and those who failed to pay their debts were thrown in jail until they [...]

2021-08-15T14:35:37-07:00October 11th, 2013|

P: Planning And What John Wooden Knew About Bankruptcy

Bankruptcy Alphabet is "Plan" or "Planning".   Coach Wooden said it best:  " Failing to Plan is Planning to Fail."   While the Coach didn't invent that saying himself (some sources credit Benjamin Franklin with the phrase), he certainly understood its meaning and consequences and used it consistently to help his students. Failing to Plan Has Consequences Planning leads to benefits in most aspects of life and failing to plan can lead to dire consequences. While planning might prevent the need for [...]

2021-08-11T21:16:52-07:00May 5th, 2012|

Bankruptcy Alphabet: N is for Numbers and New Bankruptcy Laws

The New Bankruptcy Laws Are All About Numbers People are Not Numbers When numbers are used to identify people, it's usually when they are in prison. The Bankruptcy laws used to be about helping out people (and businesses) in need. They were about equitable solutions to serious financial problems. Laws in general are designed to help society as a whole, but one must never forget it is always about people.   When a potential bankruptcy client comes into my office with [...]

2021-08-10T12:52:51-07:00March 1st, 2012|

M-Median Income In Bankruptcy: What Does It Mean? What Is The Means Test?

You can be below the median income and still not qualify for bankruptcy, and above the median and be able to qualify. Sound confusing? Read more.

2021-08-11T21:33:19-07:00February 11th, 2012|
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