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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, our 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. You’ll want to consult with an experienced bankruptcy attorney before filing for bankruptcy, however. This site is not meant to be considered legal advice.

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How to Screw Up Your Bankruptcy Discharge

Last updated Oct. 30, 2017. In the vast majority of cases, the bankruptcy discharge is the primary reason debtors enter the Bankruptcy Court. After all, people file bankruptcy to get rid of debt, and a federal court order is certainly an effective way of making this happen. However, receiving a bankruptcy discharge is not guaranteed,…

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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…

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Should Filing Bankruptcy Be The Last Resort?

Is Bankruptcy Always a Last Resort? Although we’ve mentioned it time and again on the forum, it bears repeating: filing for bankruptcy is not a decision to be entered into lightly. In fact, it is important to get good information and carefully weigh your options. Having said that, delaying too long can cause unnecessary financial…

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Who Will Know I Filed Bankruptcy?

Worried Who Will Find Out About Your Bankruptcy? Do you worry about who will know that you decided to file bankruptcy? Even though bankruptcy doesn’t carry the same negative connotation it used to, some people still worry that their friends and coworkers will find out. The good news is, that except for a select few,…

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Are You Judgment Proof?

We all know why people are considering filing for bankruptcy. We have seen an unprecedented “black swan” type event in the coronavirus. Unemployment numbers are way up and many Americans face an uncertain financial future. Under these circumstances, bankruptcy is a natural consideration. Those thinking of filing bankruptcy, or even families facing mounting credit card…

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