Wednesday, April 7, 2010 as of 11:14 AM ET
Chapter 7 of the Title 11 of the United States Code (Bankruptcy Code) governs the process of liquidation under the bankruptcy laws of the United States.
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Dear Debt Adviser, I was operated on in an emergency room in 2010 for a burst appendix.
I was shopping for insurance at the same unfortunate time and had no insurance when I had the operation. The hospital promptly racked up a bill of $44,000 and sent it to a collection agency. A few days ago, the calls stopped from the agency. I do not know what my options are. Would they go to court and attach my paychecks? What is the best way to settle this with the hospital, as paying $44,000 in medical bills is almost next to impossible for me? -- StressedDear Stressed, Let's take a look at this. Even though health care costs are seemingly out of control, the bottom line is you did incur this debt. I know you didn't mean to or want to, but you did. This is precisely the type of situation that causes people major financial distress -- a large expense that is unexpected with no funds available to pay it.Now, I'll address your question of whether they'll take you to court for the large debt. First, ...Dear Dr. Don, I come from a family where money has always been scarce. I am now 30 and retired from the Marine Corps . I quite possibly could be coming in to a large...
Dear Debt Adviser, I have a judgment where I owe $19,000 with interest. I don't have $19,000. I own a house with my boyfriend. My name is on the deed. How do I know ...
Dear Bankruptcy Adviser, I have equity in my home, and I was OK making payments. But I was in the construction business and could not keep up with what I owed. Now t...
Dear Bankruptcy Adviser, The Chapter 7 bankruptcy paperwork has four options on the Statement of Intentions form. They are: surrender, redeem, reaffirm and other. I ...
Rep. Cliff Stearns, (R-Fla.), on why there should not have been an auto bailout and growing calls to open the Strategic Petroleum Reserve.
Dear Credit Care,Can a finance company come in and take money that is not mine from my mother's account because I am a signer on her account? All the funds are my mo...
Dear Credit Care,Due to a reduction in pay, I have been unable to pay my credit card debt and have had three cards charged off, three on current payment arrangements...
According to federal court records, Chapter 7 bankruptcy filings outnumbered Chapter 13 filings more than two to one during 2011. Home foreclosures and insurmountabl...
Dear Credit Care,Can a creditor sue you for not paying the full minimum payment? I send something every month, but I cannot make the full minimum payment. -CherylDea...
Dear Bankruptcy Adviser, I have two properties in my name. Right now, I am in a difficult situation with making my mortgage payments. If I file for bankruptcy, can I...
Dear To Her Credit,My boyfriend and I are talking about marriage. I think he will propose soon. I filed for a Chapter 7 bankruptcy two years ago, but now I have no n...
Dear Debt Adviser, How do I find out the timeline on my debt? I know after six or seven years the debt is taken off. I would like to know if there is a way to see if...
JPMorgan Chase & Co <JPM.N>, under scrutiny for its ties to collapsed commodities firm MF Global, will return $168 million to the estate of MF's broker-dealer, the e...
The bankruptcy court signed off on the sale of Nassau Broadcasting Partners LP's assets Tuesday to five different buyers, including a Goldman Sachs Group Inc. (GS) a...
Radio-station owner Nassau Broadcasting Partners LP announced ahead of its Monday sale hearing that a Goldman Sachs Group Inc. (GS) affiliate purchased the majority ...
Most people have a credit report, but how many actually know what goes into them? If you listen to educators at the top three credit bureaus -- Experian, Equifax and...
It has only been a few years since the pack of directory publishers that filed for Chapter 11 protection emerged with revamped balance sheets and renewed focus, but ...
Dear Bankruptcy Adviser, When we went bankrupt, we had a loan to have a new roof put on. The contractor was a crook and scammed many people in our area. We put this ...
More than 1.4 million Americans claimed bankruptcy during the preceding year as of September 2011 (the latest statistics available), punctuating the frustration many...
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