Tag Archives: Bankruptcy

How Often Can A Bankruptcy Be Filed?

There are limits on how often a bankruptcy can be filed.   A Chapter 7 bankruptcy can be filed once every eight years.  The date of filing of the original bankruptcy is used to determine the filing date for the new … Continue reading

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Terms You Hear At A Bankruptcy Creditor’s Meeting And What They Mean?

There are several steps in the process of filing for bankruptcy. One of the first steps after the filing is the “Meeting of Creditors”. The meeting, also called a Section 341(a) meeting is held by the “Trustee“. The meeting is … Continue reading

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What Happens To My Lease When I File A Chapter 7 Bankruptcy?

When you file a Chapter 7 bankruptcy you have two basic options:  You can assume the lease or you can reject the lease.  If you decide to assume the lease, then you  will still be responsible for honoring the terms of the lease. When … Continue reading

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What Is A Chapter 20 Bankruptcy?

What is a Chapter 20 bankruptcy? The fact is there is no Chapter 20 of the Bankruptcy Code. Chapter 20 is an expression used by attorneys to describe a situation where a Chapter 7 bankruptcy is filed for a debtor … Continue reading

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They Went Broke Too! “Real Housewives of New Jersey” star Teresa Giudice. UPDATE!

The Trustee for the bankruptcy filed by “Real Housewives of New Jersey” star Teresa Giudice has scheduled an auction of the couples non-exempt belongs to occur on August 22, 2010. To encourage only legitimate buyers, a $300.00 deposit is required … Continue reading

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Can An Emergency Bankruptcy Be Filed To Stop A Foreclosure?

An emergency bankruptcy (sometimes referred to as a skeleton bankruptcy) can be filed to stop a foreclosure, however it is not a good idea to wait to the last minute to stop a foreclosure for a number of reasons. First,  the changes … Continue reading

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They Went Broke Too! “Real Housewives of New Jersey” star Teresa Giudice.

“Real Housewives of New Jersey” reality TV starTeresa Giudice and her husband have filed for Chapter 7 bankruptcy. The Chapter 7 bankruptcy has been filed in the United States Bankruptcy Court for the District of New Jersey.  The bankruptcy filing shows that  Teresa … Continue reading

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They Went Broke Too! Former Boston Celtics and Miami Heat Forward Antoine Walker.

Former National Basketball Association star Antoine Walker has filed for Chapter 7 protection in the U.S. Bankruptcy Court in Miami. Walker’s filing indicates he has $12.7 million in debt and $4.3 million in assets.  Walker’s schedules indicate monthly living expenses for his family … Continue reading

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They Went Broke Too! Former Detroit Lions Defensive Lineman Luther Elliss

Citing failed business ventures and poor real estate investments, former Detroit Lions defensive lineman Luther Elliss has file for bankruptcy protection. Mortgage debt and tax bills are the former Detroit Lion’s primary liabilities. Elliss filed for Chapter 7 bankruptcy protection listing … Continue reading

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Myth No. 8: You Can Never Own A Home If You Have Filed For Bankruptcy

You can never own a home if you have filed for Bankruptcy. False. To the  contrary, assuming that you otherwise qualify, (Have a down payment, closing costs, a job, etc.) it is likely that you would be able to purchase a … Continue reading

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