Prevent Foreclosures

When a homeowner is in foreclosure and does not have a way to find any money to pay the mortgage company, then filing bankruptcy may be one solution to give him or her a fresh start. But bankruptcy laws have changed over the past years making it harder for people to seek bankruptcy protection. Do you know what ill happen if you file for bankruptcy protection? You might know the laws but do you know what actually happens in real life? A lot of people find that, in reality, filing for bankruptcy protection is not a smooth sail and not even a fresh start as advertised. This book called Bankruptcy And Debtor/creditor: Examples And Explanations gives examples and explanations of what you can expect when you file bankruptcy.

To keep pace with the recent major changes in bankruptcy law, noted author Brian Blum presents a completely revised edition of his popular study guide, "Bankruptcy and Debtor/Creditor: Examples & Explanations."

This comprehensive text is well known for its effectiveness in helping students understand the many rules, principles, and policies of the area.

If you are facing foreclosure, then it is wise to find out all the options that may be available to you. In some cases, you might be able to stop foreclosure completely and keep your home but in others you might have to sell your home and move on. There are a few foreclosure situations where filing for bankruptcy protection is one of the best ways to do to give the homeowner a fresh start in life. If it comes down to filing for bankruptcy, you need to make sure that you know what you are getting yourself into. You need to get as much information about bankruptcy and what it will mean to your life. This book called When You Have to File for Bankruptcy: Step-by-step Instructions to Take Control of Your Financial Future has step by step instructions of what you need to do.

According to the United States Bankruptcy Courts, the number of bankruptcies filed each year is on the rise. People file bankruptcy for a variety of reasons, such as:

• preventing foreclosure on their homes,
• preventing repossession of property,
• loss of employment, or
• reducing or eliminating debts.

Most common types of bankruptcy for individuals

The most common types of bankruptcy for which individuals file are Chapter 7 and Chapter 13.

Chapter 7 involves the surrender of property to pay debts, while a Chapter 13 bankruptcy allows for the retention of property but requires payments over the next three to five years.

This book is divided into three sections: evaluating your need to file for bankruptcy, how to file for bankruptcy, and what to do after you have filed. In the first section, you will be provided with evaluation tools, determine your eligibility, learn how to check your credit report for accuracy, and learn about the different types of bankruptcy for which you can file.

In the second section, you will learn about the major changes in bankruptcy law, bankruptcy lawyers, alternatives to filing for bankruptcy, bankruptcy code, collection agencies, exempt property, nondischargeable debts, what bankruptcy can and cannot accomplish, the automatic stay provision, foreclosure, tax levies, bankruptcy fees, the 341 meeting, bankruptcy myths, the initial consultation with your lawyer, and bankruptcy timelines. You will learn the answers to some of the most common questions about bankruptcy, such as:

• Will creditors stop harassing me?
• Will my spouse be affected?
• Who will know about my filing?
• Will I ever get credit again?
• What does it cost?

The final section will provide a brief overview of what to do after you have gone through the bankruptcy process. We will address the issues of how to get car loans and home loans and how to build credit after bankruptcy. Whether you are filing for bankruptcy for the first time or, unfortunately, you have been through it before, When You Have to File for Bankruptcy will provide insight into the complex and burdensome process.

Sometimes, the foreclosure situation is so bad that the homeowner think that it is much better to file for bankruptcy protection and get a new start. There are many factors you need to consider if you are thinking of filing bankruptcy. Not only you need to think about your credit and what you would do after bankruptcy, you also need to consider the different types of bankruptcy you want to file and seek protection under. Many people do not qualify for Chapter 7 bankruptcy and they end up having to file for Chapter 13 bankruptcy instead. This book called How to File for Chapter 7 Bankruptcy will give you all the information you need about how to file for Chapter 7 bankruptcy protection.

In these times of massive credit card debt and stagnating incomes, filing for bankruptcy has become the only relief for thousands of people. The information in How to File for Bankruptcy is so complete that a person can file virtually on his own, without needing to hire a lawyer. By no means does the book encourage filing for bankruptcy, but it will help anyone in serious financial trouble determine if bankruptcy might be a sensible course to take, and examines what kind is appropriate for different individuals. All of the necessary forms are included, complete with explicit directions. Like all Nolo Press titles, this is a straightforward, no-nonsense book of useful advice and specific guidance, written in clear, easy-to-understand language.

From Library Journal

This book focuses almost exclusively on personal or so-called "straight" bankruptcy under Chapter 7 of the Bankruptcy Code, and excludes detailed consideration of Chapter 13 repayment plans. The authors, all lawyers associated with Nolo Press, provide step-by-step information necessary to determine whether or not, and how, to file. Included are worksheets, examples, and illustrative filled-in forms.

Although not stated, this volume is apparently intended by Nolo to replace Janice Kosel's perennial Bankruptcy:

• Do It Yourself , which has a California emphasis;
• however, it will complement her Chapter 13:
• Federal Plan to Repay Debts (Nolo Pr., 1987. 3d ed.).

- Merlin Whiteman, Indiana Univ. Sch. of Law, Indianapolis
Copyright 1990 Reed Business Information, Inc.