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Category Archives: Bankruptcy

Giving Up Real Estate in a Chapter 7 Bankruptcy

In a Chapter 7 bankruptcy, the trustee may sell a portion of the debtor’s property in attempts to repay creditors. Not everything has to be turned over to the bankruptcy trustee, however, as California bankruptcy laws allow the debtor to keep exempt property. Property that is exempt is considered to be the “necessities of modern […]

How the Liquidation of Assets Works in Chapter 7

Many people fear they will be left with nothing when filing for Chapter 7 bankruptcy, but that is not the case at all. Chapter 7 liquidates your assets and uses the proceeds to pay back creditors. After assets have been liquidated and the creditors paid back, you may then be free of all consumer debts […]

Medical Bills, Job Loss Among Top Reason for Bankruptcy in US

Approximately 1.7 million people will file for bankruptcy protection this year, and about 56 million adults will struggle with health care-related bills in 2014. There has been a significant increase in Americans being unable to pay off their debts over the past 20 years — and Congress has responded by making it more difficult to […]

In Bankruptcy, GT Advanced Attempts to Expose Apple’s Disclosure Requirements

GT Advanced Technologies, the company that was to supply Apple with scratch-resistant sapphire, is attempting to expose some of the details of its Chapter 11 bankruptcy filing. Originally, the company wanted to seal certain documents or file them in redacted forms. The information GT Advanced now seeks to release would allegedly describe the partnership with […]

Preparing for Life After Bankruptcy

Filing for bankruptcy is not the end of the world — nor is it the end of your financial vitality. Although your credit report may have been damaged and you’ll temporarily have a tough time getting a loan or credit card, there can also be benefits of going through bankruptcy. It can be a starting […]

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