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Bankruptcy Vocabulary

BANKRUPTCY VOCABULARY The following are common terms/phrases you will hear during a bankruptcy case. DATE OF FILING:  This is the date your bankruptcy petition is filed. PRE-PETITION DEBTS:  Debts incurred before the date of filing are “pre-petition debts and included in your bankruptcy case.  Note this is not the date the bill is received, it is the date the service…

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The Fresh Start of a Bankruptcy May Restore Credit Faster

Bill People consider filing bankruptcy when the alternative has become worse. Figuring out if you are at that point though can be difficult. One misconception that makes people hesitate to file bankruptcy is the impact on their credit. An in depth study by the Federal Reserve Bank comparing the credit of people who’ve filed bankruptcy with those suffering through chronic defaults…

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