Bankruptcy Abuse Prevention and Consumer Protection Act

During the Bush administration, several laws were passed to make it more difficult for consumers to file Chapter 7 bankruptcy. Mostly the result of heavy lobbying by the banking industry and credit card companies, the changes in the laws resulted in a drastic drop in filings. The new law is referred to as the Bankruptcy [...]

Filed under:Bankruptcy Basics

What Is a Chapter Seven Bankruptcy?

When a consumer files for bankruptcy, they are said to have ‘discharged’ their debt. This simply means that any debts, or owed money, are erased from their record. Their credit is cleared and they no longer owe monies to their debtors. While this simple explanation of the term ‘discharge’ is easy to understand, the actual [...]

Filed under:Bankruptcy Basics

Leading Myths About Bankruptcy

The five leading myths and misconceptions about bankruptcy.

Filed under:Bankruptcy Basics

Consumer Bankruptcy Overview

A clear and concise overview of the various forms of consumer bankruptcy.

Filed under:Bankruptcy Basics

Bankruptcy FAQ

A thorough Bankruptcy FAQ. Most general questions can be answered here.

Filed under:Bankruptcy Basics