Bankruptcy Basics

Bankruptcy law is complex, it can be overwhelming for the consumer researching the subject to read technical, legal jargon, which is why we created the bankruptcy basics section of the site. At National Bankruptcy Forum, or goal is to provide readers with useful information about bankruptcy and debt that can be easily understood. In this section of the site, we have published over 100 articles that focus on the basics of bankruptcy, such as exemptions, property issues, filing deadlines and costs.

New York City Bankruptcy State Exemptions Chapter 7

Chapter 7 Bankruptcy in New York: What You Need to Know

Last updated March 29, 2017. If you are considering filing for protection under the federal bankruptcy laws, the first thing that should be done is to engage the services of a knowledgeable attorney. This post is a description of things you might want to know about bankruptcy in New York City, as well as the […]

How bankruptcy and debt solutions impact your credit score

When you’re in debt and trying to decide what action to take, you may be concerned about how to protect your credit score. That’s often one of the last barriers to deciding to file for bankruptcy – so how much does bankruptcy affect your score? The answer may surprise you. Bankruptcy certainly does have an […]

Can I pay back family before bankruptcy?

In times of difficulty, we naturally turn to family and friends for help. The same holds when those difficulties are financial. Family and friends know you and understand your troubles; they’ll be willing to lend you a hand even when banks won’t. They trust you regardless of your credit score. If you borrow from people […]

Gift or loan, and why does it matter for bankruptcy?

When you’re struggling with debt, it’s natural to turn to friends and family for help. They know you and they trust you, making it simpler and easier to seek financial aid from them than from a bank. If your financial difficulties continue and you decide to file for bankruptcy protection, what happens to the friends […]

IRS Sanctioned for Willful Violation of Discharge Order

The Bankruptcy Discharge Applies Even To The Federal Government Creditors who attempt to collect on debts that have been discharged in bankruptcy often find themselves in serious hot water with the Bankruptcy Court.  Bankruptcy judges take the discharge order very seriously and will dish out punishment to those who ignore its prohibitions against continued collection […]

Tax Refund in Bankruptcy

Tax Refund and Bankruptcy? Here’s How to Keep Your Money

Last updated March 28, 2017. It comes up every tax season. You’re looking forward to receiving a big tax refund check, and you’re also working hard to get your bankruptcy case filed. So, what happens to your tax refund in a bankruptcy case? We’ve said it time and again on the forum: Tax refunds are […]

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Wage Garnishment Must Stop After a Bankruptcy Case is Filed; You Might Even be Able to Get Money Back

Bankruptcy Stops Wage Garnishment The minute a bankruptcy cases filed, an injunction called the automatic stay is issued, which prohibits creditors from trying to collect on debts that were included in the bankruptcy. The Ninth Circuit Court of Appeals has called the automatic stay “one of the most important protections in bankruptcy law.” The automatic stay […]