Bankruptcy Video Library


 

Bankruptcy Basics Part 1 – Introduction

This short video discusses basic information about the process, the relief a bankruptcy gives and what to expect if you file a bankruptcy. It talks about wiping out all or most of your debt and keeping all or most of your property giving you relief from debt collectors.

Bankruptcy Basics Part 2 – Types of Bankruptcy

Do you know about the different types of bankruptcy and which one you should file. The Chapter 7 Bankruptcy is known as a liquidation. (however you will learn that you will almost always keep all of your property), The Chapter 13 Bankruptcy is a wage earners bankruptcy and it allows you to reorganize your secured debts like you home and autos. The third type is a Chapter 11 Bankruptcy and is usually filed by corporations like General Motors, K-Mart and Delphi.

Bankruptcy Basics Part 3 – Limits of Bankruptcy

There are limits to what bankruptcy can and cannot do.  Certain debts are not dischargable under bankruptcy.  A Chapter 13 Bankruptcy can help you modify secured debts so thatyou may keep the property secured by the debt. Sometimes you may be denied a discharge of debts if you were fraudulent in transferring property or attempted to hide property.

Bankruptcy Basics Part 4 – Filing For Bankruptcy

This video discuses what is needed to file for bankruptcy. Prior to filing you must complete credit counseling course by an approved agency.  A petition is filed with the Bankruptcy Court where you live,  you must include all creditors.  A filing fee must be paid by most people, however can be paid in installments.

Bankruptcy Basics Part 5 – Meeting of Creditors 

The meeting of creditors is conducted by a trustee.  In  the meeting the Trustee will verify the identity of the debtor and ask you a few questions. Creditors are given an opportunity to ask the debtor questions.

Bankruptcy Basics Part 6 – Bankruptcy Crime

You must be accurate when filling out information and testifying at hearings.  The documents are sworn to under oath.  Hidden transfers of property can be a crime.  

Bankruptcy Basics Part 7 – Court Hearings

In most cases the Debtor does not appear in front of the judge  In a Chapter 7 Bankruptcy the most common Court Hearing is that for a reaffirmation agreement that allows you to keep secured property .

Bankruptcy Basics Part 8 –  The Discharge

To discharge debts you must complete the financial education course.  The discharge prohibits creditors from taking any action against you after the bankruptcy was discharged.  The discharge does not prohibit you from voluntarily paying a debt.

Bankruptcy Basics Part 9 – Legal Assistance

Do you need an attorney?  A debtor is not required to have an attorney in a Bankruptcy Case. A lawyer can assist you in determining if you need an attorney on your case.

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