The Automatic Stay! What Happens When I File a Chapter 7 Bankruptcy Petition?

automatic stay

A voluntary Chapter 7 Bankruptcy case is commenced upon the filing of a petition with the bankruptcy court.  A bankruptcy petition is a formal written request, bearing your signature, requesting relief from the bankruptcy court for relief. Pursuant to Section 301 (b), “the commencement of case under this chapter constitutes an order for relief under…

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What Does It Mean When the Chapter 7 Trustee Abandon Assets?

trustee abandon assets

Chapter 7 trustee’s right to abandon assets in a Chapter 7 Bankruptcy A Chapter 7 trustee’s right to abandon assets in a Chapter 7 Bankruptcy filing is governed by Section 554 of the United States Bankruptcy Code.  The Code states there are two ways the debtor’s assets are abandoned in a Chapter 7 bankruptcy case. …

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Are Gambling Debts Dischargeable in Bankruptcy?

gambling debt

Online Casinos, Gambling Debt and Bankruptcy Maybe you like playing the ponies or placing a wager on your favorite sports team.  With advances in technology and recent changes in the law, you don’t have to travel far to gamble your paycheck.  In fact, you may not even need to get out of your pajamas.  Just…

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