When
someone files for bankruptcy, an estate is created that consists of, among
other things, any and all assets owned by, or to which the debtor filing the
bankruptcy case has a right to or interest in. This includes tangible
things such as real estate, vehicles, money, clothing, and jewelry, as well as
rights to property such as litigation claims.
In a
Chapter 7 case, all assets belong to the trustee on the date a case is filed
unless an exemption is claimed, and the trustee gets to keep, sell or otherwise

A few days ago, the 11th Circuit  Court of Appeals issued its decision in the case of Airtran Airways, Inc., v. Brenda Elem, et al., case 13-11738 (11th Cir. Sept. 23, 2014).

A few days ago, the 11th Circuit  Court of Appeals issued its decision in the case of Airtran Airways, Inc., v. Brenda Elem, et al., case 13-11738 (11th Cir. Sept. 23, 2014).

A few days ago, the 11th Circuit  Court of Appeals issued its decision in the case of Airtran Airways, Inc., v.

A U.S. bankruptcy judge has dismissed the case of a Colorado marijuana business owner, stating that while he is in compliance with state law, he is breeching the federal Controlled Substances Act.
Frank Arenas, wholesale distributor and producer of marijuana, was seeking Chapter 7 bankruptcy protection. According to his petition, he owes $556,000 to unsecured creditors.

I just got a recent call from a woman who has been a client for approximately 9 months. She was set up on a payment plan, however has not made a payment in over five months. It turns out that one of the creditors has obtained a judgment and has now served her employer with+ Read More

If you’ve got a debt from years ago, don’t make the mistake of prolonging the negative impact is has on your credit history.
Old debts can plague your credit for years, dragging down your score long after the date you went into default.

Gubernatorial candidate Nathan Deal is reeling after a U.S. bankruptcy judge ordered the reopening of a 2009 bankruptcy filing by Deal’s daughter Carrie Deal Wilder and his son-in-law Clint Wilder. A U.S. bankruptcy trustee sought to reopen the Wilders’ case after it was revealed that Clint Wilder was not eligible for a discharge of his... Read more »

One of the things most people want to know when considering bankruptcy is how soon after filing bankruptcy can they obtain credit. The answer to this will vary from case to case but there is a relatively simple formula to follow. After your case is filed, you can apply immediately for a secured credit card.+ Read More

"Post hoc ergo propter hoc" - Latin for "after this, therefore because of this."  This episode from West Wing assumes that at least one of the 27 lawyers in the room would know what it means.  Even Sheldon in Bing Bang understands this logical fallacy and so does Spock. 
Logical Fallacy