Bankruptcy Basics
Here you can explore Avvo's various Legal Guides on bankruptcy, including an overview of bankruptcy, what you get to keep if you file for bankruptcy, how to file your bankruptcy case, and several FAQs that you'll find useful.
Written by Avvo Staff. STAFF PICK
Bankruptcy is a legal process in which individuals and companies who have accumulated more debt than they are able to repay can regain their financial footing. Depending on the type of debt and the... more
Written by attorney Kristin Smith.
Asset. Assets include everything you own and everything you might have a claim to. In bankruptcy, if its worth a penny, or possibly worth a penny at some point in the future, it should probably be... more
Written by attorney Kevin Cortright.
What is the automatic stay? The Automatic Stay is one of the fundamental debtor protections provided by the bankruptcy laws. It goes into effect against virtually all creditor activity the moment the... more
Written by attorney Dustin Bower.
What is exempt property and what can you keep with the federal exemptions?. “The purpose of an exemption is to protect a debtor and his family against absolute want by allowing them, out of his... more
Written by attorney Robert Kraft.
DO NOT USE YOUR RETIREMENT, SAVINGS, OR HOME EQUITY TO PAY CREDIT CARD BILLS. Many people do not realize that their retirement accounts, savings accounts, and home equity are usually safe from... more
Written by attorney Jeena Cho.
My employer will find out and fire me, or my potential future employer will not hire me because I filed for bankruptcy.. Discrimination solely because you filed for bankruptcy is prohibited under... more
Written by attorney Jeffrey Larkin. STAFF PICK
Student Loans and Bankruptcy The debtor's options with respect to discharging student loans in bankruptcy have shrunk to a very few. Changes to the Bankruptcy Code in late 1998 made student loans... more
Written by attorney Jeffrey Larkin. STAFF PICK
The Automatic Stay: What is it and what can it do for you?. The automatic stay is one of the most powerful weapons in a bankruptcy arsenal to protect a debtor from his or her creditors. Its impact... more
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