Bankruptcy Basics

You don’t have to struggle with burdensome debt. By filing for Chapter 7, relief can be yours in as few as four months. How to File for Chapter 7 Bankruptcy explains the bankruptcy process in easy-to-understand language, including:

• whether you'll qualify for a Chapter 7 discharge
• the debts that debts get wiped out in Chapter 7
• what property you'll be able to keep, and
• how to retain your home or car.

Once you’re ready to file, you’ll use the step-by-step instructions to:

• complete the official bankruptcy court forms
• file your debtor education course certificates
• prepare for the meeting of creditors (the one appearance you'll make), and
• rebuild your credit after receiving your fresh start.

Get more than 40 additional resources, including samples of completed bankruptcy forms, fillable financial worksheets, current income and exemption charts, motions, and more. And, most importantly, if the law changes, you’ll know. Nolo provides access to legal changes on the How to File for Chapter 7 Bankruptcy updates page.

Clear instructions on when and how to fill out the necessary forms.”-Forbes

“Exceptionally clear…”-The New York Times

“A do-it-yourself bankruptcy book for people who can’t afford expensive lawyers.”-Newsweek

Chapter 13 bankruptcy offers unique debt solutions not available in Chapter 7 bankruptcy. Yes, you'll pay into a repayment plan. But your money will go toward the debts that matter most -- like your mortgage, car loan, support obligations, and taxes. Remaining debts, such as credit card balances, medical bills, and utility bills, usually get only a fraction of what you owe.

Some of Chapter 13 bankruptcy's other features include allowing filers to:

• keep all property
• avoid foreclosure and vehicle repossession
• pay the fair market value for a car, and
• stop lawsuits, wage garnishments, and bank levies.

Here, you'll find clear explanations of the Chapter 13 process to help you:

• decide if Chapter 13 is your best option
• estimate your monthly plan payment, and
• find and work effectively with the right lawyer.

This revised edition includes all the latest changes in bankruptcy law, including updated exemption tables for every state, and explains how to use the new official bankruptcy forms.

An excellent book that can guide you through the process."-Forbes

"This is the best book going if you choose to file alone or if you want background on the Chapter 13 process."-Attorney Gary Klein, Co-Author of Consumer Bankruptcy Law and Practice

"An excellent resource..."-Consumers Digest

You know bankruptcy will help you get back on your financial feet. But which chapter type is best? The New Bankruptcy explains the benefits of Chapter 7 and Chapter 13 bankruptcy. You’ll learn that Chapter 7 bankruptcy will:

• wipe out credit card balances, utility bills, and more
• protect property you need to work and live, and
• take about four to six months to complete.

Chapter 13 bankruptcy works by keeping creditors at bay while you: 

• catch up on a house or car payment
• pay off an overdue tax or support balance, and
• pay less on other debt, such as credit cards and student loans

The 8th edition's expanded online companion page includes downloadable worksheets and easy-to-use charts, as well as a sample bankruptcy filing on the latest official legal forms.

Conquering overwhelming debt starts with understanding your options. Solve Your Money Troubles gives you the tools you need to get your finances back on track. Learn how to:

• stop debt collector harassment cold
• negotiate down your debt with creditors
• reduce your student loan payments, and
• create a healthy financial plan that you can live with.

But that's not all.  Solve Your Money Troubles helps you handle the big issues, too.  Find out how to:

• stop a wage garnishment from leaving you penniless
• get your car back after a repossession
• prevent a foreclosure by applying for a loss mitigation program
• respond to an action if you get sued, and
• decide if it's time to wipe the slate clean by filing for bankruptcy.

In addition to up-to-date legal information, you’ll find practical tools, such as sample creditor letters and budgeting worksheets. And, if the law changes, you won’t be left out of the loop. You’ll have online access to all of the latest debt, credit, and bankruptcy developments.

“This book is a must-have, even for people who don’t have debt problems.”
-Los Angeles Times

“One of the best books you can buy on all aspects of personal debt.”
-Michael Pellecchia, Nationally Syndicated Columnist

“This book will give you strength and the skills needed to respond to bill collectors and to rebuild your credit….”
-New Orleans Times-Picayune

When you’re in foreclosure, there’s no time to waste. You need to know your options and The Foreclosure Survival Guide can help. You’ll learn how to:

• determine whether you should try to keep your house
• find loss mitigation programs that could help you save your home
• apply for mortgage relief from your lender
• bring your loan current in Chapter 13 bankruptcy, and
• if you can’t stay in your home, avoid unnecessary costs by filing for Chapter 7 bankruptcy.

The powerful, yet practical advice in this edition also explains:

• your most important tool—the 120-day foreclosure waiting period before foreclosure starts
• how the foreclosure process works
• potential tax consequences, and more.

People affected by COVID-19 will also learn about moratoriums and how to address mortgage problems using the most current foreclosure avoidance options.

“...evaluate your options and make smart choices.”—Publishers Weekly

“...exactly what those facing foreclosure need.”—Jim C. Turner, former executive director, HALT

“Straightforward and timely.”—Library Journal