Overview

According to the United States Bankruptcy Courts, the number of bankruptcies filed each year is on the rise. People file bankruptcy for a variety of reasons, such as preventing foreclosure on their homes, preventing repossession of property, loss of employment, or reducing or eliminating debts. The most common types of bankruptcy for which individuals file are Chapter 7 and Chapter 13. Chapter 7 involves the surrender of property to pay debts, while a Chapter 13 bankruptcy allows for the retention of property but requires payments over the next three to five years. This book is divided into three sections: evaluating your need to file for bankruptcy, how to file for bankruptcy, and what to do after you have filed. In the first section, you will be provided with evaluation tools, determine your eligibility, learn how to check your credit report for accuracy, and learn about the different types of bankruptcy for which you can file. In the second section, you will learn about the major changes in bankruptcy law, bankruptcy lawyers, alternatives to filing for bankruptcy, bankruptcy code, collection agencies, exempt property, non-dischargeable debts, what bankruptcy can and cannot accomplish, the automatic stay provision, foreclosure, tax levies, bankruptcy fees, the 341 meeting, bankruptcy myths, the initial consultation with your lawyer, and bankruptcy timelines. You will learn the answers to some of the most common questions about bankruptcy, such as: Will creditors stop harassing me? Will my spouse be affected? Who will know about my filing? Will I ever get credit again? What does it cost? The final section will provide a brief overview of what to do after you have gone through the bankruptcy process. We will address the issues of how to get car loans and home loans and how to build credit after bankruptcy. Whether you are filing for bankruptcy for the first time or, unfortunately, you have been through it before, this book will provide insight into the complex and burdensome process.

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9781601382092

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Matt Pelc worked in the trenches of the bankruptcy world while employed at one of the Chapter 13 trustee's offices in Detroit, Michigan for nearly six years. He held a few posts at Trustee Krispen S. Carroll's Office and had many experiences dealing with Chapter 13 debtors, including reviewing their cases and holding their 341 Meetings. Matt followed his dream of writing to Florida and left the trustee's office in early 2008. He now works as a freelance writer in Davenport, Florida and resides with his wife, Tamara, and their two-year-old daughter, Kelsey. Besides writing, Matt's passions include being a long suffering Detroit Lion fan and following the Detroit Tigers and other Michigan-based sports teams. His interests are trains, history, and watching his young daughter grow and get ever smarter each day. Peruse Matt's writings at pelcprofessionalwriting.com, and feel free to contact him at Matt@pelcprofessionalwriting.com.

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