If you've sought out this page, this is probably a time in your life when your financial affairs are in crisis. The reasons can be as many a there are desperate people, but the most common are illness, a catastrophic accident, job loss, the death or disability of a close family member, or divorce -- or a combination of these. Bankruptcy is one way of resolving that crisis and getting back to a healthy financial life.
A lot of myths surround bankruptcy, and some of these are addressed in the frequently asked questions piece that links from this page. You'll also find an explanation of the various chapters under which a bankruptcy can be filed there.
The filing of a bankruptcy petition also requires a lot of information about your assets and debts, and the bankruptcy worksheet that links from this page is a good starting point for putting that information together.
You have probably heard about the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005" (Public Law No. 109-8) which effects cases filed October 17, 2005 and after. It has made bankruptcy more difficult to file for some people, and more expensive to file for nearly everyone. But the stories that most debt is no longer dischargeable, or that bankruptcy has been abolished for most people, are simply not true.
You may also have questions about credit reports and credit reporting. Some basic information about that is in Credit Report Questions and Answers, which links from this page.
Of course, the information here is rather general, and you'll have specific questions about how bankruptcy would effect you. We're happy to answer those questions, either by telephone, or by setting up an appointment in our office.
University of Iowa College of Law Professor Katherine M. Porter studies mortgage servicing charges in a November 6, 2007 paper.
It's legal, but it can still be spoofed: visit the Preditory Lending Association website (via Elizabeth Warren on Credit Slips).
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