The Complete Idiot's Guide to Surviving Bankruptcy

The Complete Idiot's Guide to Surviving Bankruptcy

by Carol Costa, James R. Beaman

Paperback

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Overview

This book will include everything readers need to know in order to determine whether bankruptcy is the only way out, if it is-how to decide between chapter 7 and chapter 13, how to go about filing, and how to restore their credit once they've filed. In addition the book will cover all questions most first-time filers would never think to ask, but need to know the answers to, such as: What debts are non-dischargable? What assets are exempt from liquidation? What kinds of property can be legally transferred? What rights do you have in dealing with creditors?

Product Details

ISBN-13: 9780028642130
Publisher: Alpha Books
Publication date: 10/19/2001
Series: Complete Idiot's Guide Series
Pages: 304
Product dimensions: 8.50(w) x 10.96(h) x 0.74(d)

Table of Contents

Part 1The Credit Cards Are Stacked Against You1
1You're Not a Loser3
Hold Your Head High3
Take a Long, Hard Look at Your Debts5
See What You Can Cut8
Is Bankruptcy in Your Future?10
Taking Appropriate Action11
2Don't Be Intimidated13
Creditors Have Rules to Follow13
Late Notices Aren't Hate Mail16
For Whom the Bell Tolls17
Promises, Promises18
Leave the Juggling to the Circus Acts19
3Consider Some Options21
Don't Stay in Debtors' Prison21
Are You Still Paying for Your Education?23
Other Loans and Groans24
Trade and Save24
The IRS Doesn't Pay Interest25
Keep Your Eye on the Ball27
4Examine Your Options29
Lenders Come in All Shapes and Sizes29
Debt Counselors Work for You32
Part 2How Do You Spell Relief? B-A-N-K-R-U-P-T-C-Y37
5Understanding Bankruptcy Laws39
You Must Make a Federal Case Out of This39
Creditors Must Cease and Desist41
Study the Chapters42
A New Estate and State of Mind43
The Role of the Bankruptcy Trustee44
Chapter 7 Is a Rescue from Hard Times44
6Other Types of Bankruptcy47
Chapter 11--A New Opportunity47
Do It Yourself or Leave It to the Court48
Chapter 13--A Plan for Wage Earners49
Chapter 20--7 + 13 = 2051
A Special Chapter for Family Farmers52
Choosing the Right Chapter52
7Getting It All Together55
What Is Truly Yours?55
Determine Your Net Worth59
Look at Your Bottom Line62
8Which Chapter Is Right for You?65
A Fool for a Client65
Advice Based on Your Overall Financial Picture66
Community Property67
Deciding on a Chapter68
Take the Time to Devise a Strategy70
Part 3You've Studied the Chapter, Now You're Buying the Book73
9Beginning the Bankruptcy Process75
Work It Out on Paper75
So Many Questions77
Transfers, Losses, and Lawsuits78
Organizing Your Records81
10Continuing the Bankruptcy Process83
Your Forms Are Taking Shape83
Checking with Uncle Sam86
Other Verifying Documents86
11Planning Your Bankruptcy Case89
Spend Any Excess Cash89
The Best Laid Plans91
Get a New Car92
Intangible Assets94
Differences in a Chapter 13 Filing94
Planning Your Bankruptcy Strategy95
12Redemptions and Reaffirmations97
Redeeming Offers97
Keeping the Homestead99
Autos and Other Assets101
Keep Your Objectivity102
13Timing Is Everything103
Chapter 7 Filers103
Chapter 11 Filers104
Chapter 13 Filers105
All Chapters105
Other Timing Issues106
Part 4Your Day in Court109
14Filing a Chapter 7 Bankruptcy Petition111
Creditors Seeking Relief111
Keeping House and Home Intact113
Comparing State Exemptions114
Nonexempt Property117
15Filing a Chapter 11 Bankruptcy Petition121
Debtor Stays in Charge121
Creditors Are Involved122
Working with the Creditors123
The Plan125
Getting the Plan Approved126
Accommodating Business Matters127
16Filing a Chapter 13 Bankruptcy Petition129
Creditors Speak Up129
Remember Your Co-Signers130
Presenting a Plan to the Court131
The Seal of Approval134
Final Page of Chapter 13134
17The Actual Court Appearance137
Chapter 7 Meets With or Without Creditors138
Chapter 11 Filers May Not Get Off So Easy139
Chapter 13 Filers and Unsecured Creditors140
A Creditor's Right to Confront the Debtor140
18Duties of the Bankruptcy Trustee143
Who Is the Trustee?143
The Trustee's Role in Chapter 7147
When a Trustee Is Assigned to Chapter 11148
The Trustee's Role in a Chapter 13 Filing149
That's All, Folks149
19Chapters Should Have Happy Endings151
You Could Be in the Newspaper152
The Last Few Steps for Chapter 7152
Reaching the End of Chapter 13153
Drawing Chapter 11 to a Close153
The Official Discharge of Debt154
The IRS and the Discharge of Debts154
Relief Is Like a Security Blanket154
Your Own Happy Ending157
Preparing to Start Over158
Part 5Life After Bankruptcy159
20You and Your Credit Report161
Your Credit History Is Still Riddled with Holes162
What's on Your Report?163
Cleaning Up Your Credit Report165
Try to Stay Still165
Exceptions166
21New Credit Accounts169
Credit Card Offers169
How About a New Car?170
Can You Buy a House?171
VA and FHA Loans172
Prequalifying for Your Home Loan172
Don't Let Turn-Downs Get You Down173
Making a Fresh Start174
22Rebuilding Your Credit Rating177
Slow and Steady Wins the Race177
No Wild Shopping Sprees179
Establish an Emergency Fund179
Your Brighter Future180
23The Bankruptcy Reform Act of 2001183
Who Will Be Eligible for Chapter 7?184
A Proposed Ceiling on Homestead Exemptions185
Other Proposed Amendments and Provisions186
Chapter 12188
New Rules for Creditors188
Appendixes
AResource Directory191
BGlossary195
COfficial Bankruptcy Forms199
Index281

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