You Can Go Bankrupt Without Going Broke: An Essential Guide to Personal Bankruptcy

You Can Go Bankrupt Without Going Broke: An Essential Guide to Personal Bankruptcy
By Lawrence R. Reich and James P. Duffy

2003/10 - Beard Books
1587982099 - Paperback - Reprint - 256 pp.
US$34.95

Reich and Duffy present an unbiased and sensible look at the advantages and disadvantages of personal bankruptcy.

Publisher Comments

Category: Bankruptcy & Restructuring

This title is part of the Bankruptcy Primer list.

Of Interest:

As We Forgive Our Debtors: Bankruptcy and Consumer Credit in America

Bankruptcy Crimes: Third Edition

Debtors and Creditors in America: Insolvency, Imprisonment for Debt, and Bankruptcy, 1607-1900

Ten Cents on the Dollar: Or the Bankruptcy Game

The PRC Enterprise Bankruptcy Law: The People's Work in Progress

Each year over a million Americans seek the protection of the Federal Bankruptcy Law. Most do so with feelings of guilt and inadequacy. They simply don't realize how bankruptcy can help them out of a seemingly hopeless situation. Although originally published in 1992, You Can Go Bankrupt Without Going Broke presents bankruptcy as an option, as valid then as now, for those looking for realistic alternatives to their financial problems.

Written by a respected bankruptcy attorney, it is a straightforward, step-by-step guide to the ins and outs of personal bankruptcy. It provides expert advice on how to effect a personal bankruptcy that you can recover from both financially and emotionally.

No book reviews available.

Lawrence R. Reich, who is a practicing attorney and a member of the American Bankruptcy Institute, has lectured widely on bankruptcy and corporate reorganization. He holds a J.D. from New York University School of Law (1965).

James P. Duffy, who is an executive with a large multi-source energy supplier, writes books as a hobby. He is the author of 13 books, five of which have been book club selections. His four World War II books have earned him many accolades.

Acknowledgments	xiv
ONE WHEN IT'S TIME TO FACE THE FACTS	1
Bankruptcy Through the Ages	2
The Acceptance of Credit and Debt	3
The Purpose of Bankruptcy Laws	5
The Role of Bankruptcy Courts	5
Financial Warning Signs	6
Questions to Ask Yourself	6
What Your Next Step Should Be	8
Bankruptcy as a Way Out	9
What Bankruptcy Can and Cannot Do for You	9
"How Did I Get to This Point?"	10
Three Profiles in Bankruptcy	11
TWO DEBTORS HAVE RIGHTS, KNOW YOURS	17
Consumer Protection Laws	18
The Truth in Lending Act	18
The Equal Credit Opportunity Act	19
The Fair Credit Billing Act	20
The Fair Credit Reporting Act	20
The Fair Debt Collection Practices Act	21
Consumer Reporting Agencies and Your Credit File	22
What's in Your Credit File	23
How to Check Your Credit File	25
What to Do if You Are Refused Credit	27
How to Correct Your Credit File	28
How to Resolve Billing Disputes	30
Dealing with Debt Collectors	32
What Debt Collectors Can Do	33
What Debt Collectors Can't Do	33
What Debtors Can Do	34
Dealing with the Internal Revenue Service	36
The Taxpayer Bill of Rights	37
What the IRS Must Do	38
What a Taxpayer Can Do	38
Always Be Protected and Prepared	39
THREE FINDING ALTERNATIVES TO BANKRUPTCY	41
When Bankruptcy Will Not Work	41
If Your Debts Are Secured	41
If You Had a Previous Bankruptcy	44
If You Are Judgment Proof	44
Other Reasons Not to File Bankruptcy	45
When and How to Settle Out of Court	46
How to Negotiate with Your Creditors	47
Use an Assignment for Benefit of Creditors	48
Where to Find Help	48
The Truth About Consumer Counseling Services	50
Using a Bankruptcy Attorney	52
A Do-It-Yourself Bankruptcy	53
FOUR HOW TO GET YOUR CREDITORS TO SETTLE FOR LESS	54
Determining How Much You Can Pay	54
Simple Financial Formulas	54
Selecting the Right Creditors	56
Contracting Your Creditors	58
Meeting Your Creditor Face to Face	59
FIVE WHEN BANKRUPTCY IS THE ONLY WAY OUT	66
Classifying Your Debts	66
Dischargeable Debts	69
Nondischargeable Debts	71
Debts That May be Nondischargeable	72
The Advantages of Personal Bankruptcy	74
Stop Creditors from Harassing You	74
Protect Your Property	74
Control Your Dealings with Creditors	75
Halt Legal Action by Creditors	75
The Disadvantages of Personal Bankruptcy	79
You May Lose Your Property	79
How It Will Affect Your Mortgage	80
What Happens to Your Credit Standing	81
The Impact on Your Future Credit	82
About Your Personal Reputation	83
Your Next Step	84
Get Competent Help	85
Bankruptcy, Chapter by Chapter	85
Selecting the Right Chapter	87
SIX WHAT YOU SHOULD KNOW ABOUT CHAPTER 7 BANKRUPTCY	89
Deciding If Chapter 7 Is Right for You	89
When to Use Chapter 7	90
Who is Eligible for Chapter 7	90
The Chapter 7 Filing	90
When to File Chapter 7	90
What Is Filed	91
What the Court Fees Are	91
The Chapter 7 Process	92
What the Bankruptcy Trustee Does	92
How Creditors Are Notified	92
The Meeting of Your Creditors	93
Questions You Must Answer	93
Asset and No-Asset Cases	95
The Resolution of Your Filing	96
How Your Debts are Discharged	96
What Happens After the Discharge	96
Why Your Case Could Be Dismissed	96
How to Deal with Secured Creditors	97
Why You Should Refuse to Sign a Reaffirmation Agreement	98
SEVEN WHAT YOU SHOULD KNOW ABOUT CHAPTER 11 BANKRUPTCY	101
Deciding If Chapter 11 Is Right for You	101
Who is Eligible for Chapter 11	101
The Advantages of Chapter 11	102
Who Chapter 11 Helps	102
The Chapter 11 Process	103
How Court Fees Are Set	103
Developing a Payment Plan	104
How Your Plan Is Approved	104
EIGHT WHAT YOU SHOULD KNOW ABOUT CHAPTER 12 BANKRUPTCY	106
Deciding If Chapter 12 Is Right for You	106
Who is Eligible for Chapter 12	107
The Advantages of Chapter 12	107
The Chapter 12 Process	107
How Co-Signers Are Protected	107
Your Repayment Period	108
How Creditors Are Treated	108
NINE WHAT YOU SHOULD KNOW ABOUT CHAPTER 13 BANKRUPTCY	109
Deciding If Chapter 13 Is Right for You	109
When to Use Chapter 13	109
The Advantages of Chapter 13	111
The Disadvantages of Chapter 13	112
Who is Eligible for Chapter 13	113
The Chapter 13 Filing	114
About Your Payment Plan	114
Your Filing Costs	114
The Chapter 13 Process	115
What the Bankruptcy Trustee Does	115
Your Employer May Be Notified	115
How Creditors Are Notified	116
How a Payment Plan is Established	116
What Happens When Your Creditors Meet	117
Your Confirmation Hearing	118
If Your Plan is Not Confirmed	118
The Chapter 13 Discharge	118
How Secured Creditors are Treated	119
What to Do If Your Plan Fails	120
When to Request a Hardship Discharge	120
TEN YOUR EXEMPTIONS: FROM ALABAMA TO WYOMING	121
ELEVEN HOME AND REAL ESTATE EXEMPTIONS: A STATE-BY-STATE GUIDE	173
TWELVE WHY YOU SHOULD CONSIDER USING AN ATTORNEY	180
The Attorney's Roles	181
As Your Advisor	181
As Your Negotiator	182
As Your Representative	183
How to Find a Personal Bankruptcy Attorney	184
How to Select the Right Attorney	185
THIRTEEN HOW YOU CAN PROTECT YOUR ASSETS	188
Plan Ahead for Best Results	188
Plan Well in Advance of Your Filing	189
Keep the "Pig Theory" In Mind	189
Stay Within the Applicable Laws	190
Important Steps You Can Take	191
How to Convert Nonexempt Property Legally to Exempt Property	191
How to Use Nonexempt Property to Pay Off Nondischargeable Debts	194
What You Should Not Do	195
FOURTEEN YOUR LIFE AFTER BANKRUPTCY	198
Reestablishing Your Charge Accounts	200
Use the Charge Accounts You Saved	200
How to Use Secured Credit Cards	202
Use Bank Accounts for Credit	205
Take Out a Passbook Loan	205
Debit Cards Will Help You	205
Apply for a Secured Loan	206
Protect Your New Credit	206
Keep Your Credit Files Clean	206
A Final Warning	207
A GLOSSARY OF TERMS YOU SHOULD KNOW	208
APPENDIX A FEDERAL BANKRUPTCY EXEMPTIONS	212
APPENDIX B SAMPLE BANKRUPTCY FORMS	215
INDEX	235

home | about us | contact us | related sites