The bankruptcy laws have changed. What once was a straightforward and rather simple process is now anything but straightforward and simple. There was a time when a person could just file simple forms, appear before a judge, and have his financial slate wiped clean. That is no longer the case. Today, just qualifying to file for bankruptcy is a difficult process and, unlike it was in earlier times, all debt is not forgiven.
Some things did remain unchanged when the bankruptcy laws were amended. Those who file for bankruptcy do not lose their homes, and they are allowed to keep the real property they have that they need to earn a living and care for their families.
One thing that your bankruptcy attorney will likely caution you about is the predatory lenders out there that offer loans and even credit cards to those who have filed for bankruptcy. Your attorney will tell you not to accept any unsolicited offers for credit that may come your way. This is good advice that you should take.
Bankruptcy Lawyer Kansas City – The Harshman Law Firm, LLC provides legal representation in the areas of Bankruptcy, Workers’ Compensation, Personal Injury, Criminal Defense, and Traffic Violations cases in the Kansas City, Missouri (MO) area.
3 comments
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Chris Nielsen
November 6, 2011 at 3:29 pm (UTC 0) Link to this comment
I think the change is a good one. If someone should incur debts and then get out of paying them, I think that is unfair.
People should have some protection when they get into financial trouble and declare bankruptcy, but they should be required to pay back most if not all of what they owe as time goes on and they have the resources to do so.
It should be up to the debt-holder if they should forgive part or all of any debts owed.
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September 2, 2010 at 4:01 pm (UTC 0) Link to this comment
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parent coach
August 18, 2010 at 5:06 pm (UTC 0) Link to this comment
Oh I did not that know now when you file for bankruptcy that your debt is not wipe clean. I’ve alway assume that it would be but I guess with the economy. Rules has been amended and glad to hear that people are not losing their home.
Leslie
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