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Category: Bankruptcy Video

Can bankruptcy stop a wage garnishment?

January 20, 2014 | Posted in Bankruptcy Video

When you don’t pay your debts creditors can resort to a number of actions to claim their money, including wage garnishment. On average, a wage garnishment order can allow for up to 25% of your paycheck to be seized before you even see the rest of your money. Further, wage garnishments are not easily stopped […]

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In a bankruptcy, what is the trustee?

August 24, 2012 | Posted in Bankruptcy Video

In every bankruptcy, a trustee is appointed to oversee the administration of the bankruptcy case. The trustee is a court official, normally a bankruptcy lawyer, whose job it is to make sure that all of the paperwork is properly filed, that the consumer qualifies for the bankruptcy relief that the consumer is attempting to obtain. […]

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Do bankruptcy laws vary from state to state?

August 24, 2012 | Posted in Bankruptcy Video

Bankruptcy is federal law and is applied uniformly across the country in most respects. However, bankruptcy exemptions are generally governed by state law. So, the federal bankruptcy law incorporates the state exemption law to determine the result in any particular case. Furthermore, recent changes in the bankruptcy law have resulted in situations where the exemption […]

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Will bankruptcy stop wage garnishments?

August 24, 2012 | Posted in Bankruptcy Video

Bankruptcy stops all forms of collection including wage garnishments. However, it is important to understand that it is the filing of the bankruptcy case which invokes what in bankruptcy law is referred to as the automatic stay – and this is what stops the wage garnishments or other collection activity. Simply visiting an attorney to […]

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Can my utility providers stop service if i file bankruptcy?

August 23, 2012 | Posted in Bankruptcy Video

Utility providers are not permitted to turn off your service simply because you file bankruptcy. In many cases, the consumers that I file bankruptcy for have utility bills that are going to be partially or completely discharged in their bankruptcy. When this happens, the utility provider can require that the consumer pay a security deposit. […]

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What are the disadvantages of filing bankruptcy?

August 23, 2012 | Posted in Bankruptcy Video

The most obvious disadvantage of filing a bankruptcy is the fact that your bankruptcy will be reported on your credit report. This is sometimes viewed as a negative mark on credit, but sometimes it actually improves your credit score. Credit reporting bureaus are permitted to report bankruptcy filings for up to 10 years from the […]

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What are the advantages of filing for bankruptcy?

August 23, 2012 | Posted in Bankruptcy Video

There are many advantages to filing bankruptcy. When your debts become so overwhelming that you simply can’t pay them off in any reasonable period of time – a bankruptcy can give you new hope and a fresh start. Without the bankruptcy system, there would be little incentive for anyone to continue working as a productive […]

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Who will know about my bankruptcy?

August 23, 2012 | Posted in Bankruptcy Video

Bankruptcy is a public record. If you wish to see who filed for bankruptcy all you have to do is go down to the bankruptcy court clerk’s office and ask to see the records. Recently, court reporting services have begun to put bankruptcy filing information online. Therefore, it is possible in some jurisdictions to look […]

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