There is no particular debt limit that you must have in order to file a Chapter 7 bankruptcy.  It really depends upon the particular person and their particular situation.  I have had clients who have wanted to file a bankruptcy over a $5000 debt.  I have had other clients who had $100,000 worth of debt and were fighting against filing a Chapter 7 and getting a fresh start.  You have to determine whether or not you feel you can either pay your debt back over time or whether or not you need a fresh start to be able to survive.

Parking tickets sound like a debt that you could easily eliminate, right, because it’s just a bill for a parking ticket.  You didn’t purchase anything.  It sounds like it’s unsecured.  There’s no property they can take back or repossessed if you don’t pay.  However, parking tickets are a fine to the government or municipality and by that fact, they are determined to be non-dischargeable.

Typically student loans are going to be non-dischargeable.  A non-dischargeable debt is a debt that is not going to be eliminated in a bankruptcy case.  Student loans are the type of debt that are typically non-dischargeable except for extreme hardship cases.  In my 21 years of practice, I have never had an extreme hardship case+ Read MoreThe post Can my student loans be dis

Got an email this week from Martindale-Hubbell, publishers of the famous Martindale Hubbell lawyer directory and also Lawyers.com. They told me my clients rated me in the top one percent in client satisfaction.

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 16, 2013 Casino commission OKs Revel’s bankruptcy plan David Oreck Talks Bankruptcy And Book Cancer diagnosis puts people at greater risk for bankruptcy

Chapter 7 bankruptcy eliminates unsecured debt such as medical bills, credit card debt, and payday loans.  In order to understand whether you qualify is by reviewing your eligibility factors.  The most effective way to learn if you qualify includes discussing your situation with an experienced bankruptcy attorney. Meeting qualifications of the means test and providing [...]

By John Clark
A report this week from Detroit’s emergency manager says the downtrodden city is completely broke and may soon have to file for bankruptcy, according to the Associated Press.

In Oregon, homeowners who want to challenge a non-judicial foreclosure can now opt for mediation. They pay two hundred dollars in order to meet with a housing counselor, then sit down with both a state-sanctioned mediator and a representative of the bank. While Consumer advocates anticipate many homes will still be foreclosed, the hope is that those who are still capable of making mortgage payments will be able to renegotiate their loans. This modification to the foreclosure process is currently available only in non-judicial foreclosure.

The automatic stay in bankruptcy may feel like a children’s game, but the protections it offers are serious business.