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Resources For Attorneys
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Tougher Bankruptcy Laws Take Effect October 2005 - posted: October 12, 2005 - author: James Dimmitt - In just a few short weeks, President Bushs Bankruptcy Abuse Prevention and Consumer Protection Act will take effect. In a nutshell, the new law, which goes into effect on October 17, 2005, makes it more difficult to cancel your debts under Chapter 7 Bankruptcy click here for full text.
Taxes and Bankruptcy: The Nuts and Bolts - posted: March 19, 2006 - author: Richard K. Gustafson, II - The filing and subsequent discharge of either a Chapter 7 or a Chapter 13 bankruptcy may eliminate some types of personal income tax liability. There are, however, certain restrictions which must be met in order to completely eliminate personal income tax liability through bankruptcy. Some personal income taxes may be eliminated through the filing and click here for full text.
The Umbrella Effect of The Bankruptcy Stay - posted: March 22, 2006 - author: Victoria Ring - Updated to comply with new BAPCAP (advanced training for bankruptcy paralegals). It is not intended for legal advice. Regardless of whether an entire petition or a skeleton petition is filed, the very moment the bankruptcy petition is filed with the bankruptcy court, a type of umbrella for the debtor(s) is put into effect. This is called the bankruptcy stay which helps some click here for full text.
The New Bankruptcy Law -- How Will It Affect Debt Negotiation - posted: October 12, 2005 - author: Charles Phelan - In April 2005, Congress made sweeping changes in U.S. bankruptcy law that will go into effect on October 17, 2005. It's called the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005," and it means big trouble click here for full text.
The Chapter 13 Meeting of Creditors - What to Expect - dated: March 12, 2006 - author: Leon H. Rountree III - Have you recently filed Chapter 13 Bankruptcy? Do you have an upcoming Meeting of Creditors hearing? Many Chapter 13 debtors get a little nervous about the meeting since they are not exactly sure what to expect. So, I decided to take some notes on exactly what happens during the meeting for the benefit of those who have an upcoming meeting. click here for full text.
Buying A Home After Bankruptcy - dated: March 10, 2006 - author: Kevin Chern, J.D. - It’s true that most lenders will see you as a credit risk immediately after bankruptcy, but that doesn’t mean you won’t be able to buy a home. Home loans are somewhat less risky for lenders than unsecured loans (like credit cards or personal signature loans) because the lender will have your home as security. Even so, every reputable lender wants to be able to expect click here for full text.
What the Credit Industry Doesn't Want You to Know About Bankruptcy - dated: March 10, 2006 - author: Tiffany Sanders - The “new” bankruptcy law that went into affect in October, 2005 isn’t very much more restrictive than the “old” law. The law revision got a lot of press that made it sound like it would be much more difficult—perhaps impossible—to file for bankruptcy protection after the new law went into effect. It’s true that there are some additional steps click here for full text.
Don't Let The New Bankruptcy Law Scare You - dated: March 15, 2006 - author: Tommy C. Smith, III, Esq. - On October 17, 2005 the world of bankruptcy law changed for the worse. Or did it? Is it really that much harder to file bankruptcy under the new bankruptcy law? In the run up to the effective date of the new law, bankruptcy filings increased to record numbers in virtually every bankruptcy court district. Scary terms like "means test" and click here for full text.
New Bankruptcy Reform Means Test - posted: March 17, 2006 - author: Jeffery J. Aleman - In the first part of the means test, your monthly income multiplied by 12 is compared to your state's median annual income. Your state's median income would be below your state's highest incomes and above your state's lowest incomes. If your income falls at or below your state's monthly median income, then your Chapter 7 bankruptcy filing will likely be successful click here for full text.
The Facts About Personal Bankruptcy - posted: March 23, 2006 - author: Jay Stockman - The thought of personal bankruptcy is very frightening, however over 5.4 per 1,000 people have filed for bankruptcy last year, and this rate has been growing at an average of nearly 7 percent. Researchers have determined that the primary cause of personal bankruptcy is uncontrollable levels of consumer debt oftentimes coupled with an unexpected event, such as a major click here for full text.
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