Bankruptcy 101

In this episode we talk about how a chapter 7 trustee administers your estate.  You'll learn how a trustee views your assets and values those assets and then makes a determination as to whether the trustee will require you to turn over certain assets.  

In this episode we talk about what types of debt are typically discharged in a bankruptcy and some of the debts are not dischargeable, or, at least more difficult to discharge.  We also talk about the myths of not being able to discharge tax debt and student loans.  

In this episode we discuss what the meeting of creditors, or "341" is, who attends, how to answer questions by the trustee, and what you can expect when you attend. 

In this episode we talk about section 362 of the bankruptcy code, called the Automatic Stay and how that provision keeps creditors from collecting after you've filed for bankruptcy.   It also talks about when a creditor can continue to collect and what the punishments are if a creditor violates the Automatic Stay.  

In this episode we talk about what property  may  be considered property of your bankruptcy estate and then we talk about how to protect that property through Exemption Laws.  

In this episode we talk about some of the basic things you should do and should not do before, and during the filing of your bankruptcy.  

In this episode we talk about things you should be looking for in a bankruptcy attorney and the red flags that should be aware of when making a decision on whom to hire.  

In this episode we discuss some of the basic reasons people file for bankruptcy as well as the most common chapters of bankruptcy available to consumers.  We discuss the differences in chapter 7 and chapter 13 and how each case generally works.