difference between old and new bankruptcy?
542370
old you could discharge (wipe) all debt that was not secured. new laws works like a credit counseling service where they negotiate a pay off and you pay on it. cheaper and easier to use a service that file in court and you can even try the negotion your self\n\nhttp://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&rd=1&item=9521974071&ssPageName=STRK:MESE:IT\n\nincludes a sample letter
291833
I guess it depends on what type of bankruptcy you want to do cause they have several like chapter 7. 11 and 13 and some are meant for buiness owners only and can be costly too. it also depends on if you want to eliminate everything and then certian debts can't be eliminated which is best to talk with a attorney the laws are changing all the time.
515787
I've done bankruptcy for years for clients; the website is slick, but I've never heard of these people, and I'm in Texas.  Check them with the Better Business Bureau and the State Bar of Texas -
140389
Yes.  So long as you are out of a chapter 13, you can file another chapter 13 or a chapter 7.  If you file the chapter 7, you cannot file another chapter 7 for seven years but you could file chapter 13 again once the 7 is discharged.  In fact, you can file chapter 13 bankruptcies indefinitely so long as you are no longer in the midst of another bankruptcy.
1043686
I can say that the pro's are that you can have a lesser payment monthly for most of your credit problems, but since the new law change in 2005, a lot has changed.  Payments such as house, rent, utility bills, can't be placed on it, and it stays on your credit for atleast 10 yrs.  Everything you are in debt for has to be placed on record, so, depending on how much that is and how much your income is, you still may not be able to file bankruptcy.  Also, it's not cheap to file regardless to what legal services may tell you.  Once filed, everything of substantial cost has to be approved thru your Trustee's office.  You'll pay almost twice as much for anything of credit, if it's excepted, for a very long time.  The main thing is that if you decide to file bankruptcy to hold on to items like cars, trucks, house, and get behind for any reason, it will still be taken after making this effort.  So, unless there is absolutely no other way, by contacting the creditors and working out a lesser payment till caught up, (your best option), don't do it. It would be better to show good faith in taking care of your obligations, (stop charging on cards, go out less to eat, get rid of the cable, and other things that are not a must), and pay the agreed payments on time, than to get farther behind and do nothing.  Creditors respond to that type of attempt.  Good luck!
817422
You've received a bunch of bogus responses, now read a response from a bankruptcy attorney.\n\nWhen you file for Chapter 7, the court schedules a meeting of creditors in each case, usually about 30 days after the filing.  The meeting is nick-named the "341 meeting" after the section of the bankruptcy code that requires it.\n\nThe chapter 7 trustee asks you about assets.  In most no asset cases, the trustee's work is concluded at the 341 meeting.  He does not monitor the debtor's post petition income or assets or perform any other "tests" of the debtor's entitlement to a discharge.\n\nThe deadline for a creditor to file and adversary proceeding to object to yo receiving a discharge is 60 days after the date for the first meeting of creditors.  If no creditor objects, then you will generally receive you discharge within few days after the adversary proceeding expires.\n\nMost of the Chapter 7 cases I've handled in the last year take 3 to 3 1/2 month form the date of filing to the date fo the discharge.
358197
There are certain debts that cannot be discharged, such as student loans and child support.  The new laws make it a little harder, for example, if your credit card company says that you recently used the card for say a 2000 trip to disney world right before you filed, that would not be dischargable.  They are looking into fraud more and more.
805198
Not sure about Chapter 7. But, Chapter 13 you can add to it. Just contact the Attorney that handled your bankruptcy and he should handle it. He may charge you a little for his time and additional fees involved. Just ask when you call him and they tell you.
647921
Yes, you can file for bankruptcy.\nYou will still have to pay the court judgment and according to the new bankruptcy laws probably all of your other debt but it might stop some interest charges and late payment fees.\n\nYou should consult an attorney obviously I do not know what state you live in and the details of your case.
75873
Hello, I would like to answer your question...\nI know the laws have changed recently and it is harder to go through bankruptcy now than last year...\nYou must be overly in debt and cant possibly pay your way out...\nI had to do that because I lost my long time job when I became disabled and had no way to pay back my creditors...\nI do have a web link you can view all your questions and answers on...\nI hope you will read it over before you take action...\nIt has gotten harder and more expensive to declare bankruptcy now...\nI wish you well...\nhttp://www.fulwilerlaw.com/content/austin-bankruptcy-lawyer.php
344728
I helped my girlfriend file a year ago and it was relativly simple.  I've since learned that the laws were changed (and few people know because Iraq/Elections/Missing Persons were the only national headlines.  It' supposed to be exceedingly difficult now, especially if you have any assets that most people would consider protected. \n\nI'll see if I can find some more.\n\n\nMore: "WASHINGTON - The most sweeping rewrite of the U.S. Bankruptcy Code in a quarter- century, making it harder for debtors to erase credit card and other obligations in court proceedings, goes into effect Oct. 17.\n\nAmong the changes made by the new law:\n\n* It sets up a new test for measuring a debtor's ability to repay. People with insufficient assets or income can still file a Chapter 7 bankruptcy, which if approved by a judge erases debts entirely after certain assets are forfeited. But those with income above their state's median income who can pay at least $6,000 over five years - $100 a month - will be forced into Chapter 13, under which a judge orders a repayment plan.\n\nIn calculating income, people filing for bankruptcy may deduct various expenses as defined by the Internal Revenue Service, including food and clothing, and some health and disability insurance expenses.\n\n* People seeking bankruptcy protection are required to take credit counseling courses within 180 days of filing.\n\n* It gives priority to a spouse's claims for child support among creditors' claims on a debtor in bankruptcy.\n\n* The law allows for special accommodations for active-duty service members, low-income veterans and those with serious medical conditions in the new income test for bankruptcy applicants.\n\n* The law supersedes the unlimited homestead exemptions in states including Florida, Iowa, Kansas, South Dakota and Texas that allow wealthy people to file for bankruptcy and keep their mansions sheltered from creditors. The law limits the exemption to $125,000 if the person in bankruptcy bought his or her residence less than three years and four months before filing.\n\n* It also requires billing statements for credit card accounts to include an example of how long it would take to pay off a balance at a specific interest rate if only minimum payments are made.\n\nThe law also makes it tougher for businesses that file for bankruptcy protection:\n\n* The law limits the exclusivity period, the 18-month span during which a company in Chapter 11 has the sole right to propose a reorganization plan. Debtor companies are no longer given unlimited extensions of the exclusivity period.\n\n* It limits the ability of companies to give lucrative pay packages as a way of retaining top executives.\n\n* Companies must decide within 210 days, or seven months whether they will keep or relinquish leases on property.\n\n* Creditors can seek to have a Chapter 7 liquidation filing dismissed or converted to a debt reorganization plan under Chapter 11. "\n\n\nBest of Luck,\n\nArmus
281392
Depends on the state, and how easy it is to access their law information.\n\nIn Michigan, a quick search of Michigan's MCL laws comes right up with that info.\n\nNow, understand how it applies to you is a completely differant battle.  I would strongly suggest you get a bankruptcy attorney and let him explain it.
315962
Mr. Leibowitz is certainly the most accurate, although I'm going to have to differ with him on a couple of small points.\n\nI think you've got that dismissal is bad and discharge is good (from the debtor's viewpoint).  From the creditor's viewpoint, dismissal is good, discharge is bad.\n\nThe federal bankruptcy courts have an excellent system known by the acronymn Pacer (Public Access to Court's Electronic Records).  With the debtor's name or social security number, it is a fairly simple process to look up the status of any person's bankruptcy.  Do not rely on any of the credit bureaus for information, they are notoriously inaccurate.  I've included the Pacer website in the sources, however, it is a pay site and you have to sign up for an account.  The service is usually free if you care to visit the local bankruptcy court.\n\nAs for the effect of Chapter 7 versus Chapter 13 on the credit, my experience is that Chapter 7 is far more beneficial on the credit than Chapter 13.  You are completed with the bankruptcy within three and a half months, rather than three to five years.  You can immediately start working on improving your FICO scores and getting your life back with a Chapter 7 and you can't do that with a Chapter 13 where you are tied to the court.\n\nAlso, misinformation abounds about how long items must remain on your credit.  The definitive source is the Fair Credit Reporting Act.  I've included the FTC site with the full transcript of the act, but the applicable term for any bankruptcy is ten years.  The applicable code provision reads as follows:\n\na) Information excluded from consumer reports. Except as authorized under subsection (b) of this section, no consumer reporting agency may make any consumer report containing any of the following items of information:\n\n(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from the date of entry of the order for relief or the date of adjudication, as the case may be, antedate the report by more than 10 years. \n\nSorry, that is probably way more than you asked for, but the misinformation was mindboggling.
880305
if they wont work out a forebearance agreement,then contact a bankruptcy lawyer, call HUD now!!!! you nedd to prepare to move in case.....good luck
431777
nope, but here's the fun part.  a lot of people will tell you it will erase the history from your credit file, and that's true.  however, I'm a credit analyst for a major bank, and let's say you apply for a loan with us in 10 years.  I won't see the 7 years that was erased, but I will see a very large "gap" on your credit file.  bankruptcy doesn't erase the entire credit file, it only erases what you had discharged.  let's say you turned 18 in 1990, and filed bankruptcy in 1998 and it just came off your record last year, I will wonder why you haven't had credit since 1997 and i will ask you what happened.  even if you lie about the bankruptcy, I will likely turn you down for the best rates and maybe even the loan due to not having any recent established credit.
712537
Okay, I'd say bankruptcy is in order.\nTrust me, I know what I'm talking about from unfortunate experience!!\nI was in a position where I was consuming more than I was providing...happened over a course of a year, while hours at work slowly disappeared and my lifestyle stayed the same...\nI was young enough, that although it's a black mark on my record for years, it's not the end all for me.  \nYou will not owe if you go bankrupt.  You will pay fees for nine months or so, then will have nothing more to pay.  But your credit will be bad, and so you'll have to depend on a steady job and a consistent cash flow for 7-9 years (or perhaps even longer).  I'd see a bankruptcy lawyer if I were you ( I found mine in the yellow pages), and get this started.  There's no point in waiting any further.  \nGet it over with, and if you aren't so young, there are still places willing to give anyone a loan.  "Bad Credit, No Credit, NO PROBLEM!!" They will have hefty interest though, so pay the bills on time!!\nAnyway, good luck....
1074702
It's "trustee" not "trusty."  I suspect that extensions are not limited, but check the U.S. Bankruptcy Code Index and see if you find any rules re extensions and read up on it.  You should be able to find a copy of the Bankruptcy Code in a single volume at local federal court library or confer with a bankruptcy attorney and/or volunteer lawyer association (check your state bar-it may be able to refer you to a low cost source for legal information or assistance).  I do not believe that trustees "get" a portion of the debts collected, but have a responsibility to muster assets on behalf of creditors.   Hope this is somewhat helpful.