What’s Your Property Worth in Bankruptcy

When I prepare a bankruptcy petition, one of the most important components is making sure that property is accurately valued.  This is because exemptions and cram down are based on asset values.  An exemption is what allows you to keep property after bankruptcy.  If property is too valuable, it can be liquidated to pay back your unsecured creditors in a … Continue reading »

Amending Bankruptcy Schedules

All good bankruptcy lawyers will tell you that it is absolutely critical for a debtor’s petition to be accurate and complete when it is filed with the court.  This is because of the very high penalties attached to filing an incomplete, inaccurate, or misleading bankruptcy petition.  These penalties include dismissal with prejudice to refiling, denial of the discharge, and even … Continue reading »

Bankruptcy Myths

Many people hesitate to file bankruptcy because they are afraid of the consequences, they are ashamed, or they don’t understand bankruptcy process.  In this post, you will find some bankruptcy basics and get rid of some common misconceptions about bankruptcy. Didn’t the 2005 bankruptcy law make it almost impossible to file bankruptcy? No.  The 2005 bankruptcy law made a lot … Continue reading »