Following the financial crisis, the risk management policies of financial institutions are under greater scrutiny. Although banks have always had a duty to control risks - in part through loan evaluations - financial institutions must more effectively identify loans...
Bankruptcy
Understanding the Means Test for Personal Bankruptcy Protection
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) amended the U.S. Bankruptcy Code in 2005 as part of a widespread overhaul of the system. The BAPCPA put into place new eligibility requirements for obtaining Chapter 7 bankruptcy protection. The...
Fulfilling Your Credit Counseling and Debtor Education Requirements During Bankruptcy Proceedings
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 amendment to the U.S. Bankruptcy Code imposed additional burdens on debtors filing for bankruptcy protection. BAPCPA includes provisions that require debtors to obtain credit counseling and...
Filing a Chapter 7 Bankruptcy Petition as a Small Business
For struggling small business owners, the distinction between personal bankruptcy and business bankruptcy can be of tremendous importance. Depending on the organizational structure of your business, that distinction may be difficult to make. While bankruptcy can be a...
Who Is the Bankruptcy Trustee?
The court appoints an impartial third party referred to as the trustee. It is the trustee's job to examine your case, determine if you are eligible for relief according to the chapter under which you filed and determine if there are any assets available to pay...
Protecting Your Loan Cosigner from Your Bankruptcy
If you are considering filing for bankruptcy, you may think that your friend or family member who cosigned a loan for you is legally excused from the loan if your debt is discharged in bankruptcy. Unfortunately, this is not the case. Many friends and family members...
Waiting Times Between Bankruptcy Filings
The need to file bankruptcy can arise more than once throughout the course of your life. Repeat filing is not uncommon. Once back on your feet, you may have ventured into self-employment or faced a devastating illness. Regardless of what path led you to need to seek...
The Importance of Accuracy: Amending Bankruptcy Forms
Filing complete and accurate bankruptcy petitions, schedules and statements is important - this is how the court evaluates your financial situation and determines the length and outcome of your case. However, if errors to your original documents or changes in your...
Why File for Bankruptcy?
People have bad debts - that does not make them bad people. The majority of bankruptcies result from situations beyond the debtor's control. While the idea of bankruptcy can be frightening, in some situations, it is the opportunity you need to get back on your feet...
Can I Get Credit After Bankruptcy?
People facing bankruptcy are often afraid that they can never qualify for credit again. The knowledgeable bankruptcy attorneys at can assist with post-bankruptcy financial strategies. As soon as you file for bankruptcy, you can begin...
