A provision in the 2005 bankruptcy law that limits the advice bankruptcy attorneys may give their clients is not a violation of the First Amendment, the Supreme Court ruled this week.
Bankruptcy attorneys are prohibited from advising potential bankruptcy filers to take on more debt leading up to their case, as it may lead to bankruptcy [...]

As the NBC show The Office illustrated humorously, declaring bankruptcy involves more than just verbally declaring “bankruptcy.” In fact, it’s a complex process that involves substantial legal paperwork. Here’s a look at how various bits and pieces—including your expected tax return—fit into the bankruptcy process.
Bankruptcy Documents You’ll Need
While the specific documentation required to file for [...]

Mint.com and WallStats.com have teamed up to create a tongue-in-cheek visual representation of some dangerous predatory lending products common in America today. The image is titled The Shaft: How Some Companies Prey on the Poor.
The graphic helps depict the reality of some benign-seeming products—and highlights how susceptible many lower-income Americans are to terrible credit products, [...]

Hard economic times are not limited to American families right now – many states, too, are finding themselves in precarious financial situations. California is notorious for its budget shortfalls, and, according to nbc.com, Illinois has joined the ranks of the nearly bankrupt.
Perhaps unsurprisingly, the problems plaguing state governments aren’t that different from the ones that [...]

Medical debt can often be an embarrassing situation for individuals filing bankruptcy, exposes both financial and physical struggle.
However, the process may have been even worse for some after a Wisconsin health care provider allegedly included personal medical histories in publicly accessible bankruptcy court records.
A class action lawsuit filed in Wisconsin against Aurora Health Care, Inc., [...]

A new set of median income levels take effect for consumers filing personal bankruptcy on or after November 1. The median income is used as part of the means test in chapter 7 bankruptcy.
Consumers may be able to file under the previous set of median incomes if the new levels could prevent them from filing [...]

For those burdened by excessive debts, personal bankruptcy offers some relief. That relief is first felt by a court order called the automatic stay, which immediately halts all collections efforts and fines those creditors who violate it.
Here are six essential things to know about the automatic stay.

The automatic stay attaches in both types of personal [...]