The New Bankruptcy

Consumer bankruptcy filings for September 2008 are up almost 30% from a year ago, according to the American Bankruptcy Institute, which estimates that total consumer bankruptcy filings for 2008 will exceed 1.1 million. Now more than ever, as the economy continues to worsen, more and more people will need basic information about bankruptcy that will help them decide how to handle their debt. In 2005, a profound change to bankruptcy law made it harder to eliminate overwhelming debt; medical bills, divorce, job loss and foreclosure (the latter two occurring at increasing rates in the current recession) remain the principle reasons people are filing for bankruptcy. Fortunately, there's help. The New Bankruptcy can help you choose the best strategy to get back on your feet. Filled with clear-cut answers and practical suggestions, it covers all the issues you face, including: • qualifying for Chapter 7 bankruptcy • how Chapter 13 repayment plans work • which debts are wiped out • how bankruptcy affects homeowners • maintaining possession of cars and other property • how bankruptcy affects one's credit • alternative ways to handle debt problems The third edition addresses the latest court cases interpreting the new bankruptcy rules, new forms and figures, and more information about how bankruptcy affects the foreclosure process. The New Bankruptcy also provides worksheets to help you determine whether or not you can file for bankruptcy under the new law. It includes checklists, sample forms and easy-to-use legal charts for all 50 states.