The Automatic Stay Stops The Wage Garnishment When you file for bankruptcy, you obtain an automatic stay. The automatic stay is the instrument which basically tells creditors that they can no longer take certain actions in an effort to collect a debt from you.

In the case of In re Buonopane, ___ B.R. ____, 2007 WL 247888 (Bkrtcy. M.D. Fla.)Williamson, J.) the Bankruptcy Court for the Middle District of Florida held that the cap imposed by section 522(p) on the state homestead exemption that a debtor can claim in residential property acquired within 1,215 days of the petition date applied only to the Florida homestead exemption that the debtor could claim under 522(b)(3)(A) and not to the separate exemption available under section 522(b)(3)(B) for property held as tenants by the entireties.

Wisconsin lawmakers, in a fit of rage about the onerous nature of student loans, are pushing for a new way for the state to make money and help borrowers. But does it make sense for borrowers?
Dubbed the “Higher Ed, Lower Debt” bill, the measure was introduced by State Rep. Cory Mason as a way to ease student-loan struggles got a hearing Monday in the state Assembly.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for February 11, 2014 Vince Young Settles Bankruptcy, Plans Return to NFL First Mariner Bancorp files for bankruptcy Former Baywatch star Donna D’Errico files for bankruptcy

A company in West Virginia blamed for the chemical spill that left hundreds of thousands of residents without safe drinking water has filed for bankruptcy. Freedom Industries Inc.

The recent case of In re Bast, ___ BR ___, 2007 WL 1429481 (Bkrtcy.S.D. Fla.)(Friedman J.) dealt with a motion by a discharged chapter 7 trustee to vacate the final decree and his discharge as trustee about a year after the chapter 7 case was closed as a "no asset case." The motions were filed as part of his efforts to administer an asset for the benefit of creditors. The asset involved was an $82,000 surplus generated by a foreclosure sale of scheduled non-exempt real property after the chapter 7 case was closed.

Positive Experience After Filing Bankruptcy The overwhelming majority of my clients who go through filing bankruptcy through my office find it to be a very positive and rewarding experience.  They get to start over again financially.  They are allowed to obtain credit immediately after filing and that might take the place of a credit card+ Read MoreThe post What Do Clients Experience After Filing B

If you got through the recession without filing for bankruptcy, the government is happy – even if you lost your home, went into default, and had your bank accounts and wages seized.
A January 2014 working paper from the Federal Reserve Bank of St. Louis, titled, “Labor Market Upheaval, Default Regulations, and Consumer Debt,” find that

Bankruptcy has created stereotypical views of consumers who file for protection. While each situation is different, you should not let rumors, misconceptions, or false presumptions steer you from learning the facts about filing.  There are people who have been known to be careless about their finances and seek protection. Yet, most cases do not include [...]

If you are on cusp of filing for divorce in Oregon and need to figure out what to do about all the debt, meeting with an experienced Portland or Salem Bankruptcy Attorney is likely a great first step.