All the fuss when the law changed in 2005 left many people with the idea that there is no more bankruptcy for people. That's not true. The new law has made it more complicated and burdensome, but it hasn't eliminated bankruptcy altogether. Read the full article. Nora's book Surviving Personal Bankruptcy is now available! Surviving Personal Bankruptcy; Your Guide to the Personal, Legal and Financial Issues will walk you through the process.
It is a step-by-step guide that starts where you are right now - looking for information about bankruptcy. The information on this web site is general in nature and should not be taken as legal advice. Please don't try to apply this information to your specific situation without consulting an attorney who is experienced in bankruptcy.
It is a step-by-step guide that starts where you are right now - looking for information about bankruptcy. The information on this web site is general in nature and should not be taken as legal advice. Please don't try to apply this information to your specific situation without consulting an attorney who is experienced in bankruptcy.
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But since I'm a lawyer who handles bankruptcy cases, the law makes me identify myself as a "debt relief agency."
Nora Raum is an attorney in private practice, handling bankruptcy cases since 1986.
Her office is located in Alexandria, Virginia.
She mainly practices before the Bankruptcy Court for the Eastern District of Virginia, Alexandria Division, which has jurisdiction over cases in Alexandria, Arlington, Falls Church, Fairfax, Fauquier, Loudoun, Manassas, Prince William and Stafford.
In 2005, her book Surviving Personal Bankruptcy: Your Guide to the Personal, Legal, and Financial Issues was published by Gotham Books.
Nora Raum is an attorney in private practice, handling bankruptcy cases since 1986.
Her office is located in Alexandria, Virginia.
She mainly practices before the Bankruptcy Court for the Eastern District of Virginia, Alexandria Division, which has jurisdiction over cases in Alexandria, Arlington, Falls Church, Fairfax, Fauquier, Loudoun, Manassas, Prince William and Stafford.
In 2005, her book Surviving Personal Bankruptcy: Your Guide to the Personal, Legal, and Financial Issues was published by Gotham Books.
There are two different kinds of bankruptcy for people.
In both cases, the idea is to allow those who are overwhelmed with debt to get out from under and make a fresh start.
But if you don't have much property, you may be better off doing a chapter 7 bankruptcy, which I'll discuss here.
Ask me if you want more information about Chapter 13.
This kind of bankruptcy is simply a liquidation of your estate.
The theory is that you give everything you own to the bankruptcy court.
The court sells off your stuff and pays off your creditors, as far as it goes.
In both cases, the idea is to allow those who are overwhelmed with debt to get out from under and make a fresh start.
But if you don't have much property, you may be better off doing a chapter 7 bankruptcy, which I'll discuss here.
Ask me if you want more information about Chapter 13.
This kind of bankruptcy is simply a liquidation of your estate.
The theory is that you give everything you own to the bankruptcy court.
The court sells off your stuff and pays off your creditors, as far as it goes.
Bankruptcy does not mean the end of your credit life.
You might feel you never want credit again.
But that may be shortsighted.
There may come a time in your life when you want or need credit so it's a good idea to think about it sooner rather than later.
Your first step is to find out what potential creditors will find out about you.
You can get a free copy of your credit report once a year from all three credit reporting agencies.
Call 1-877-322-8228 or visit www.annualcreditreport.com.
There are always mistakes in credit reports.
You might feel you never want credit again.
But that may be shortsighted.
There may come a time in your life when you want or need credit so it's a good idea to think about it sooner rather than later.
Your first step is to find out what potential creditors will find out about you.
You can get a free copy of your credit report once a year from all three credit reporting agencies.
Call 1-877-322-8228 or visit www.annualcreditreport.com.
There are always mistakes in credit reports.
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