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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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Does Filing Bankruptcy Mean I Have to Go to Court?

Last updated Dec. 14, 2017. For most people, lawyers and lawsuits conjure up images of wood-paneled courtrooms with scary judges presiding over heated exchanges. “ORDER IN THE COURT! OBJECTION, YOUR HONOR!” Many bankruptcy clients are concerned that a judge will be reviewing and second-guessing their petition. This concern is usually unwarranted. In the vast majority…

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Posted by: John O'Connor

Can I File Bankruptcy Without My Spouse?

Last updated April 13, 2017. One of the most common questions bankruptcy attorneys receive is: “How will filing for bankruptcy affect my spouse?” The issue comes up most frequently when only one spouse is planning to file. Many have the mistaken impression that because they are married, their spouse is automatically responsible for their debts….

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Posted by: John O'Connor

Are Arbitration Agreements Enforceable In Bankruptcy?

Arbitration and Bankruptcy Pursuant to Supreme Court decisions broadly applying the enforceability of the Federal Arbitration Act (FAA) mandatory arbitration clauses are becoming more common in consumer contracts of all kinds. Arbitration, with its limited discovery and lack of judicial review, appeals to large corporations weary of the unpredictable jury. However, the case by case…

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Posted by: John C. Colwell

Filing Bankruptcy Without a Lawyer? Know The Risks

Yes, you can file bankruptcy without the help of a lawyer. Is it advisable? Definitely NOT! There is an old adage: “he who represents himself has a fool for a client.” Perhaps nowhere is this more true than in the bankruptcy court. Bankruptcy is much more than just filling out some forms. If things aren’t…

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Posted by: John O'Connor

180 Day Wait Period to Refile Bankruptcy After Dismissal

Last updated May 31, 2017. Dismissal of a bankruptcy case is unfortunate and can happen for a number of reasons. The Bankruptcy Code places numerous responsibilities on debtors and failure to comply can jeopardize your case; making it important to consult with a knowledgeable bankruptcy attorney before filing. When a bankruptcy case is dismissed without…

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Bankruptcy Can Be a Smart Decision: Ask Donald Trump

When Evaluating Bankruptcy As A Debt Relief Option, Free Yourself From Ego And Evaluate Your Finances Like A Board Of Directors Regardless of whether it can help, most people who find themselves deep in debt shudder at the thought of bankruptcy. Around the dinner table, filing bankruptcy carries a certain stigma, it’s not something you…

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