Before you decide which type of bankruptcy is best for you, it is good to get some advice from a professional. Talking to experienced bankruptcy attorneys about your options is the best way to get out of debt soon.

There are two instances in which you would need to refile your Chapter 13 bankruptcy: either you've filed for bankruptcy before or your previous case was dismissed. You can refile in either circumstance but restrictions apply to both. Additionally, you can file on your own—called pro se—

Many people use mortgage loans to pay for houses, rental properties and home improvements. In addition to the mortgage loan used to pay for a primary residence, second and third mortgage loans can be taken out to pay for additional properties or other expenses. Second and third mortgages have less p

Bankruptcy proceedings between debtors and creditors aren't always amicable. The federal bankruptcy code specifically defines certain procedures as adversarial, such as determining the validity of a lien, challenging the confirmation of a bankruptcy payment plan, determining whether a debt can be di

401k assets are generally protected from creditors under state and federal law in a Chapter 13 bankruptcy--they are usually not part of the bankruptcy estate. Other qualified retirement assets and IRAs are exempt, as well.

It is much easier to have a lawyer help with the bankruptcy process, but, understandably, someone suffering financial hardship may want to avoid the extra cost. A common form of personal bankruptcy is Chapter 13. Under Chapter 13 bankruptcy, debtors usually get to keep major assets and property an

The stigmatization of bankrupt people is no longer something that we can afford to tolerate as a society. The types of people who have had to endure bankruptcy have changed over the years and it is no longer fair to assume that anyone who accesses bankruptcy service is profligate or somehow immoral.

Handling your own Chapter 7 bankruptcy is challenging but you may be able to file and handle your case by yourself if you are capable of conducting basic legal research, become knowledgeable about basic bankruptcy laws and procedures, and can represent yourself in a professional manner in bankruptcy

The LLC is an increasingly popular form of business organization that simplifies corporate formalities and offers significant tax benefits to its members. Since LLCs enjoy limited liability, creditors generally cannot reach LLC assets to satisfy the personal debts of its members. If you wish to prot

Debtors must meet certain requirements before filing for bankruptcy.ragged purse image by Oleg Kulakov from Fotolia.comPersonal bankruptcy filings can take the form of either Chapter 7 or Chapter 13 bankruptcy. Most debtors would like to file for Chapter 7 bankruptcy, but as a result of...

A debtor can seek bankruptcy relief on different types of debts. The most common are secured and unsecured debts. In addition, a debtor -- particularly a commercial or business debtor -- can have contingent debts, also known as contingent liabilities.

If you're struggling with outstanding debt, it may be time to consider filing bankruptcy. Chapter 7 bankruptcy allows you to discharge your debts entirely, while Chapter 13 allows you to repay them over time. Depending on which chapter you file, you may be forced to give up some or all of your asset

Chapter 7 comes with consequences.bankruptcy 2 image by Sorin Alb from Fotolia.comIf creditors are calling you; you're being threatened with garnishment or repossession; or you're afraid your house can be foreclosed on at any time, you may be thinking of filing for bankruptcy. Chapter 7...

The Bankruptcy Act of 1869, also known as the Debtors Act, was designed to consolidate all of the bankruptcy laws then current in England. It is primarily known for abolishing the debtors' prisons in England.

An operating agreement is a written agreement among members of a limited liability company (LLC) that governs their duties and obligations. A blank operating agreement is a generic document that covers the key provisions of an operating agreement.

Bankruptcy functions to help people under financial distress. It allows them to reorganize the payment of their debts and eliminates certain types of debts. If a person changes his mind about continuing with the bankruptcy, he can voluntarily dismiss the case. Requests for dismissal of the case must

A limited liability company, or LLC, is neither a corporation nor a partnership--it combines aspects of each. Tax flexibility of a partnership--in Connecticut and elsewhere--is combined with the limited liability of a corporation. Owners of an LLC are called members rather than shareholders or partn

Americans are now filing Chapter 7 or 13 Bankruptcy to get their debts under control. Bankruptcy in itself is designed for debt elimination. Chapter 7 bankruptcy functions to cancel out unsecured debt

Hiring a Divorce Attorney in BankruptcyIf you file for divorce while you are in a pending personal Chapter 13 bankruptcy, it can affect your divorce proceeding in several ways. Your first obstacle is hiring a divorce attorney. While in a Chapter 13 bankruptcy plan, you will be making...

Even if the client satisfies the first stage of the means test he may still be ineligible for chapter 7 bankruptcy due to any number of reasons. For instance, if the client's disposable incom