Given the recent economic crisis, more individuals and families are filing for bankruptcy. Some of these filers, however, may not actually be in a position to file for bankruptcy.In some cases, bankruptcy filers may not actually be in a position to file for bankruptcy...
Bankruptcy Law
Will you lose your home if you file for bankruptcy?
When people file for bankruptcy, they are often able to keep their home. Under most bankruptcy laws, people can protect at least one home worth up to a certain dollar amount.However, if an individual or family owns more than one home, they may not be able to keep the...
Borrowers’ rights and their credit history
While not everyone’s credit application will be accepted, everyone has the right to know why. As required by the Equal Credit Opportunity Act, creditors must tell people why their credit request was denied.The reasons for denying credit to someone can vary. For...
The means test for Chapter 7 bankruptcy
Given the high number of people filing for Chapter 7, the Bush administration passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. The act required people filing for Chapter 7 to pass the “means test.”The means test measures whether a debtor can...