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Exemptions allow debtors to keep assets despite filing bankruptcy

There is no question filing personal bankruptcy is daunting. Understandably, debtors have a multitude of questions, such as how filing might impact their credit score, what happens to the debts included in bankruptcy paperwork and what it means for debts…

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What an automatic stay is and how it can keep debt collectors away


When a debtor files bankruptcy, a “legal shield,” called an automatic stay, goes into effect immediately. It serves to stay, or stop, all collection efforts in effect at the time of the bankruptcy filing. One aspect of the automatic stay…

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Why hiding assets is a bad idea when filing bankruptcy

You have likely heard the expression that “Honesty is the best policy.” Not only is that true, but telling the truth is absolutely necessary when it comes to filing bankruptcy. Lying in a bankruptcy case is a violation of federal…

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