Bankruptcy
When should I declare bankruptcy?
Bankruptcy is a life altering event that should not be taken lightly and bankrupcy should only be implemented as a last resort.
The new bankruptcy law in the US
The new US bankruptcy law brings some unwelcome changes for those who are considering bankruptcy. Some filers with higher incomes won't be allowed to use Chapter 7, but will instead have to repay some of their debt under Chapter 13. All debtors will have to get credit counseling before they can file a bankruptcy case. And, because the law imposes new requirements on lawyers, it may be tougher to find a bankruptcy attorney. Here are some of the changes you should know about.
What Bankruptcy can and can't do
Bankruptcy is a powerful tool for debtors, but some kinds of debts can't be wiped out in bankruptcy. Here are the general rules.
What do I get to keep if I declare bankruptcy?
Depending on the type of bankruptcy you file, you may be able to keep some or all of your property. Here are the general rules.
Read more about what you get to keep when you declare bankruptcy