Glenn A. Brown, Esq. More often than not, married debtors file a joint bankruptcy petition. This is usually when the debt of both spouses is substantial enough to warrant a joint bankruptcy filing. However, this is not always the case. Sometimes we encounter a situation where one spouse is overwhelmed with debt, while the other spouse is not. In…
Yes. If you are making payments to creditors under a debt consolidation plan, you still owe the debt until you have paid it in full. Thus, you can include your consolidated debts in your bankruptcy, and they will be discharged, assuming they are dischargeable on all levels.
The short answer to this question is "Yes." Many of today’s bankruptcy filings result from significant credit card debt. Given the state of the economy and recent layoffs, consumers are finding it difficult to make the minimum payments on their credit card accounts. The problem does not end there. In many instances, when consumers default…
The Washington Mutual bank failure is the largest in U.S. history. WaMu filed Chapter 11 Bankruptcy in the U.S. Bankruptcy Court of Delaware. The company has listed $4.5 billion in assets, including valuable artwork. WaMu is now facing claims totaling $7.8 billion filed on behalf of shareholders, businesses, and individuals. Read more...