Articles from St. Charles Bankruptcy Attorney

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Myths and Truths About Chapter 7 Bankruptcy, Part III

Submitted by Anonymous (not verified) on Fri, 05/11/2012 - 08:00

Myths and Truths About Chapter 7 Bankruptcy, Part III
Myth:  If a debtor wishes to retain personal property or real property, the property can be excluded from the bankruptcy and does not need to be listed in the petition.

Myths and Truths About Chapter 13 Bankruptcy, Part III

Submitted by Anonymous (not verified) on Fri, 05/11/2012 - 08:00

Myths and Truths About Chapter 13 Bankruptcy, Part III
Myth:  A debtor can only file a Chapter 13 bankruptcy if they are trying to save a house from foreclosure or a car from repossession.

What if I want to buy or sell something while in bankruptcy?

Submitted by Anonymous (not verified) on Thu, 05/10/2012 - 08:00

There is a common misperception that debtors cannot purchase or sell any property while in a chapter 13 bankruptcy.  That simply is not the case.  However, you will need permission from the court to complete any purchase or sale. 

What is Median Income?

Submitted by Anonymous (not verified) on Wed, 05/09/2012 - 08:00

If you are considering filing for bankruptcy and meet with an attorney he/she will likely determine whether you are under or over median income  Individuals at or below median income for their family size can file a Chapter 7.  If you are over median income you must file a Chapter 13 Bankruptcy.

Myths and Truths About Chapter 13 Bankruptcy: Part II

Submitted by Anonymous (not verified) on Fri, 05/04/2012 - 08:00

Myths and Truths About Chapter 13 Bankruptcy: Part II
Myth:  Debtors who file a Chapter 13 bankruptcy will lose their entire tax refund every year they are in the Chapter 13 without exception.

Myths and Truths About Chapter 7 Bankruptcy: Part II

Submitted by Anonymous (not verified) on Fri, 05/04/2012 - 08:00

Myths and Truths About Chapter 7 Bankruptcy: Part II
Myth:  Debtors can include some creditors in a bankruptcy and leave out other creditors so that some creditors can be discharged while debtors continue to pay other creditors.

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