Articles from St. Charles Bankruptcy Attorney

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What Happens to my Credit Cards when I File Bankruptcy?

Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

What Happens to my Credit Cards when I File Bankruptcy? The quick answer is that it depends. It depends on the status of your accounts. Your credit cards likely fall into one of these three categories:Cards on which you have a zero balance

    Debts that Survive a Chapter 13 Bankruptcy

    Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

    Debts that Survive a Chapter 13 BankruptcyThere are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion of the debts unless there are unexempt assets that the trustee divides among your creditors. In a Chapter 13 the repayment plan will most likely provide for some portion of the debts to be paid back.

    How Will the Bankruptcy Affect Me?

    Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

    How Will the Bankruptcy Affect Me? I am Filing Bankruptcy: Will I Lose My Job? No employer may fire you because you filed bankruptcy. In addition, an employer cannot discriminate against you in other terms and conditions of employment; reducing salary, demoting you, or taking away responsibilities because of a bankruptcy. However, if there are other valid reasons for taking these actions, then the bankruptcy will not protect you.

    Why Do I Have to Take a Pre-Filing Bankruptcy Class and a Pre-Discharge Class?

    Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

    Why Do I Have to Take a Pre-Filing Bankruptcy Class and a Pre-Discharge Class? Why do I have to complete a pre-filing class? Before your bankruptcy can be filed, you must complete a credit counseling session. The cost ranges from $10.95-$50.00. The agency provides a certificate of completion that must be filed with the bankruptcy petition, schedules, and statements. The course is available online, over the phone, and through the mail. The agency must be approved by the U.S.

    Debts that Survive a Chapter 7 Bankruptcy

    Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

    Debts that Survive a Chapter 7 BankruptcyThere are certain debts that are discharged regardless of whether a Chapter 7 or a Chapter 13 is filed. Discharged means that you will no longer be responsible for repaying them once the bankruptcy is over. In a Chapter 7 you will not have to repay any portion of the debts unless there are unexempt assets that the trustee divides among your creditors. In a Chapter 13 the repayment plan will most likely provide for some portion of the debts to be paid back.

    What is a Chapter 7? What is a Chapter 11? What is a Chapter 12? What is a Chapter 13?

    Submitted by Anonymous (not verified) on Wed, 04/10/2013 - 08:00

    What is a Chapter 7? What is a Chapter 11? What is a Chapter 12? What is a Chapter 13?What is a Chapter 7?Chapter 7 is the most popular type of bankruptcy. In a Chapter 7 bankruptcy, you must fully disclose your property, debts and financial activities over the several years prior to the filing of the bankruptcy.  Typically three months after the case is filed, you receive a discharge of most of your debts with exception of certain nondischargeable debts.What is a Chapter 13?Chapter 13 is a reorganization for individuals.

    Can Taxes Be Discharged Through Bankruptcy?

    Submitted by Anonymous (not verified) on Fri, 11/16/2012 - 07:00

    Are Taxes Dischargeable Through Bankruptcy? Some taxes are dischargeable through bankruptcy, but some are not eligible for discharge due to the year the taxes are due and the timeliness of filing the taxes.  If income taxes are more than three years old, they usually can be discharged.  The three year time period is based on the due date of the taxes, which generally is April 15th unless the debtor has been granted an extension.  If the taxes would be due within three years of the filing of the bankruptcy, the taxes would not be eligible for discharge.  It is not based on the end of the tax

    Can Debtors Be Arrested for Not Paying Their Debts?

    Submitted by Anonymous (not verified) on Fri, 11/16/2012 - 07:00

    Can Debtors be Arrested for Not Paying Their Debts? Many debtors/clients inquire whether they can be arrested if they are unable to make payments on their debts.  Creditors sometimes threaten to come to their home and arrest them if they are unable to make their payments, even if they inform the creditor of their intent to file a bankruptcy.  Often, this threat is used to encourage payment and to frighten the debtor.  This information, however, is often incorrect and misstated.  Before a debtor can be arrested for a civil matter, such as a lawsuit for not paying a debt, there is a procedure

    Changes in Circumstances While in a Chapter 13 Bankruptcy

    Submitted by Anonymous (not verified) on Fri, 06/22/2012 - 08:00

    A Chapter 13 Bankruptcy can last anywhere fromm 36 to 60 months.  Three to five years is a considerable amount of time and a lot of things can change.  There are a number of issues that may affect your bankruptcy.  Some of the most common changes that need to be addressed are:1.

    Completing a Bankruptcy Petition

    Submitted by Anonymous (not verified) on Fri, 06/08/2012 - 08:00

    When filing for bankruptcy a petition must be filed.  If the debtor has an attorney the attorney generally fills out the petition based on information provided by the client.  The attorney will then meet with the client to have the individual(s) review and sign the petition.  While the attorney does fill this out, the debtor(s) are responsible for the information.  It is very important that the individual is open and honest with the attorney.  It is also very important that the debtor carefully reviews the petition to make sure that all information is accurate and disclosed.  If a debtor is

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