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What is Credit Counseling?

Many people get into financial difficulties that might make it necessary to file for bankruptcy. Bankruptcy is somewhat common. Last year, there were 248,680 Chapter 7 bankruptcy filings and 178,214 Chapter 13 bankruptcy filings in the United States. Bankruptcy is an option that allows you to get out from under excessive debt and gives you a fresh start. In order to file bankruptcy, you must meet the requirements set forth by law, including credit counseling. What is Credit Counseling? Cre[...]

When can You Stop Paying on Debts After Filing for Bankruptcy?

If you plan on filing for bankruptcy, you are likely left wondering various questions including when you can stop paying creditors. The short answer is that you should not. Despite this, many people stop paying creditors shortly before filing for bankruptcy and use this money to pay for the bankruptcy filing costs. If you intend on filing for bankruptcy but are not sure exactly when you will do so, however, it is common to end up wondering if it is okay to stop paying your debt. While there is n[...]

How Creditors Must Respond After You File for Bankruptcy

After you file for bankruptcy, all of your creditors must stop calling you in an effort to collect compensation. Unfortunately, creditors do not always follow the rules, and some people report that they are harassed by creditors even after declaring bankruptcy. If you are experiencing difficulties with a creditor, you should not hesitate to contact an experienced attorney who can help make sure that your rights are protected. The Value of Automatic Stays An automatic stay refers to a legal acti[...]

What to Expect at Your Bankruptcy 341 Meeting

One of the most potentially unnerving parts of filing for bankruptcy is the requirement to attend certain hearings in person. In addition to going before a judge to have your case confirmed, you must also attend a meeting of creditors with your trustee. This meeting is one of the most crucial parts of your bankruptcy case since the actions of the trustee and your creditors could potentially derail your filing. Knowing what to expect at your bankruptcy 341 meeting will help to reduce some of your[...]