Credit Unions Are Not Your Friends

Credit Unions: They are not your friends when you want to protect yourself from your creditors! When you file a bankruptcy, one of the requirements of the process is for you to attend a §341 Hearing. Section 341 is part of the U.S. Bankruptcy Code that requires the trustee...

THE STUDENT LOAN “DEBT BOMB”

AMERICA’S NEXT MORTGAGE-STYLE ECONOMIC CRISIS? A Report Prepared for the National Association of Consumer Bankruptcy Attorneys (NACBA) February 7, 2012 EXECUTIVE SUMMARY Americans now owe more on student loans than on credit cards. The amount of student borrowing crossed the $100 billion threshold for the first time in 2010...

Alternatives to Chapter 7 Bankruptcy

Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors should consider filing a petition under chapter 11 of the Bankruptcy...