Monthly Archives: August 2010

Terms You Hear At A Bankruptcy Creditor’s Meeting And What They Mean?

There are several steps in the process of filing for bankruptcy. One of the first steps after the filing is the “Meeting of Creditors”. The meeting, also called a Section 341(a) meeting is held by the “Trustee“. The meeting is … Continue reading

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What Is A Bankruptcy Estate?

A bankruptcy estate consists of all of the property that a debtor has at the time of the filing of his bankruptcy.   The bankruptcy estate comes into existence when a Chapter 7 or Chapter 13 bankruptcy is filed.  Some of the items … Continue reading

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What Happens To My Lease When I File A Chapter 7 Bankruptcy?

When you file a Chapter 7 bankruptcy you have two basic options:  You can assume the lease or you can reject the lease.  If you decide to assume the lease, then you  will still be responsible for honoring the terms of the lease. When … Continue reading

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Can My Employer Fire Me Because I Filed For Bankruptcy?

Can you be fired because you filed for bankruptcy? The simple answer is no, you cannot be fired, or for that matter refused employment because you filed for bankruptcy. 11 U.S.C.A § 525(b) of the Bankruptcy Code provides that, “No private employer may … Continue reading

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What Is A Chapter 20 Bankruptcy?

What is a Chapter 20 bankruptcy? The fact is there is no Chapter 20 of the Bankruptcy Code. Chapter 20 is an expression used by attorneys to describe a situation where a Chapter 7 bankruptcy is filed for a debtor … Continue reading

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They Went Broke Too! “Real Housewives of New Jersey” star Teresa Giudice. UPDATE!

The Trustee for the bankruptcy filed by “Real Housewives of New Jersey” star Teresa Giudice has scheduled an auction of the couples non-exempt belongs to occur on August 22, 2010. To encourage only legitimate buyers, a $300.00 deposit is required … Continue reading

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Can An Emergency Bankruptcy Be Filed To Stop A Foreclosure?

An emergency bankruptcy (sometimes referred to as a skeleton bankruptcy) can be filed to stop a foreclosure, however it is not a good idea to wait to the last minute to stop a foreclosure for a number of reasons. First,  the changes … Continue reading

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