Category Archives: Practical tips

Schedule D is where debtors in all chapter of the bankruptcy code — 7, 11, and 13 — list their secured debts. The form itself isn’t very complicated. There are spaces for listing the name and address of the creditor, the last four digits of the account number, and a basic description of the debt […]

Collecting an unemployment compensation check after being laid off from your job shouldn’t prevent you from filing a bankruptcy case if you need to, right? Well, in the topsy-turvy underworld of consumer bankruptcy law, you just never know. At issue is whether unemployment compensation should be counted towards the “means-test” that determines whether a debtor […]

In many ways, Schedule C is the heart and soul of an individual or couple’s bankruptcy petition. That is because it is here that a debtor declares the exemptions that apply to their property, and it is the exemptions that determine what property a debtor will keep after the filing, which in turn determines the […]

The heart of any voluntary bankruptcy petition are the schedules attached to the petition itself — they are lettered from A to H, and each require a debtor to provide crucial information about himself and the case. The starting point, of course, is Schedule A, which contains a large blank space for listing “real” property. […]

One of the biggest mistakes that average people can make when they are under the stress of financial problems is to start raiding their IRA or 401(k) retirement accounts to pay routine bills. By the time they think about filing for bankruptcy, little or even nothing may be left of their retirement savings. And then […]

Bankruptcy is the last resort for people who can’t pay their bills, right? Maybe not, or perhaps I should say “not necessarily.” North Carolina attorney Susanne Robicsek has written a nice article that might make people re-think how long they should go without considering a bankruptcy case. Robicsek thinks the two worst scenarios for debtors […]

It’s no exaggeration to say that the bankruptcy laws require every person and corporation to give a full and complete list of their property when they file a bankruptcy case. Real estate is listed on Schedule A of the bankruptcy forms, and “personal property” (that is to say, everything else besides real estate) is listed […]

“Will I qualify for bankruptcy?” This common question can usually be answered “yes,” although it is not always possible to determine what Chapter of the bankruptcy code should be used until consulting with a bankruptcy attorney. Horror stories, rumours, and just plain wrong information abounds out there. It is rare that someone wouldn’t qualify for […]