The New Bankruptcy: Will It Work for You?

by Stephen Elias, Leon Bayer, Stephen Elias Attorney

Book Overview

Choose the best bankruptcy option Is bankruptcy right for you? It s tough to know on your own. Here, you ll find clear-cut answers, worksheets and strategies to help you figure out whether bankruptcy... This description may be from another edition of this product.

• Format: Paperback
• Language: English
• ISBN: 1413319041
• ISBN13: 9781413319040
• Release Date: May 2013
• Publisher: NOLO
• Length: 394 Pages
• Weight: 1.45 lbs.
• Dimensions: 0.8" x 7.2" x 8.7"

Customer Reviews

This book is a fine bankruptcy reference for consumers

First, there is a lot to like about this book! It's very well organized, and it turns some remarkably complex bankruptcy concepts into fairly easy to digest nuggets. Second, it's pretty complete as far consumer chapter 7 cases and consumer chapter 13 cases go. There are very few areas of the law that it skips, and it hits the important parts pretty well. There is a lucid discussion of the roles of the bankruptcy trustee in both sorts of ordinary consumer cases, and a pretty complete discussion of the way a trustee looks at assets, exempt and nonexempt, in consumer bankruptcy cases. There's one feature I particularly liked about the book, because a lot of bankruptcy resources become dated very quickly; just inside the cover page in the print edition there is a discussion of NOLO resources to check for updates, and that's a good thing. There are 11 chapters (in the book, not bankruptcy chapters), and they concisely discuss the nature of bankruptcy, eligibility requirements, debts that survive both chapter 7 and 13 discharges, the bankruptcy estate and exemptions, differences in the treatment of homeowners and renters in bankruptcy, treatment of secured creditors in both sorts of filings, the treatment of zero balance credit cards (this is a little-known finesse), psychological and legal consequences of filing, the forms and procedures, getting help with bankruptcy, and alternatives to bankruptcy. The bankruptcy alternatives discussion is a little weak, but I gave the book five stars anyway, because the title isn't bankruptcy alternatives, and is instead The New Bankruptcy. I was a little uncomfortable with the discussion of getting help with the bankruptcy, and that's only natural because there was a slight bias in favor of non-lawyer assistance in the process, and I'm a board-certified bankruptcy lawyer practicing in Phoenix, Arizona. But that slight bias is not a good reason to avoid the book; I just have a lot of anxiety about a poor frightened debtor trying to find non-lawyer practitioners who will do a good job for them. With lawyer bankruptcy specialists, you have a somewhat more predictable service provider, although admittedly the service costs more; and the book does a good job of explaining why bankruptcy lawyers charge more than they used to under the new version of the bankruptcy law. Note: for tracking down good bankruptcy lawyers in the outside world, there's a new resource that joins Findlaw and Martindale (with the coveted AV rating), which is AVVO; it's a little controversial, but it collates info about lawyers. Using those three online sites would at least give you a running start at finding a qualified bankruptcy attorney. If you are a non-lawyer who is contemplating bankruptcy and you want a concise, well-organized overview of the area, frequently used terms, and the way the law works generally, you would find it hard to beat this book. I would feel comfortable suggesting to any potential debtor (the new name for b

A reference certain to receive repeat consultation.

Bankruptcy is usually the last resort for most people covered in the deep, restricting sludge of debt. "The New Bankruptcy: Will It Work for You?" is a guide to help those in financial turmoil to decide if the revised bankruptcy laws make declaring bankruptcy the answer for all of their money woes. Promoting clear cut answers and strategies to determining this, it offers all the information on qualifying for Chapter 7 bankruptcy, which debts are wiped in this regard, if you can keep your major property like your home and car, among other information - it even offers alternatives to clawing your way out of debt without the drastic use of bankruptcy. "The New Bankruptcy: Will It Work for You?" is highly recommended to those in need of its advice everywhere, and should be on every community library shelf on personal finance.

Might Be Just The Right Book For You.

If you are considering personal bankruptcy, will satisfy the new means test or have a steady w-2 income you may want to file bankruptcy under Chapters 7 or 13. If you are considering one of the chapters, this is a great book for you. For businesses or individuals with more substantial assets or income, the appropriate Chapter would be Chapter 11. The book that I like on that subject is Chapter 11 Business Reorganizations: For Business Leaders, Accountants And Lawyers

nolo press is always a reliable source

As always Nolo Press does not fail to give up to date, easy to comprehend legal info.I have been purchasing Nolo products for years and was not surprised to be pleased with this latest offering.If you are needing Bankruptcy info.whether you are considering filing yourself or are a Bankruptcy Preparer as I am, this is a very helpful guide to the new rules-which by the way,are not as oppresive as some think.This book helps clarify the new means testing which is the thrust of new guidelines.

Covers the new law comprehensively and accessibly

To begin with, bankruptcy law changed completely as of October 17, 2005 for really the first time since 1978. Therefore, all books published before that date are pretty much worthless since they are giving you outdated advice on the old law. Of the ones that are in print covering the new law that I have looked through, this one seems to be the best combination of accessible and complete. It does a good job of answering common questions that a person would ask about bankruptcy in the new environment, as well as going into painstaking detail about all of the changes to the law, including the new means test. Included are the steps you need to take to declare bankruptcy, the order in which you need to take them, and the forms you need to fill out. The book also talks about impacts to your life you might not have thought of, such as how declaring bankruptcy might impact your ability to get certain types of jobs or even auto insurance of all things! The reason I have read so much about this is not that I have declared or am planning to declare bankruptcy. Just call me an interested citizen that followed the debate over the new law very carefully and therefore I know a little more than the average citizen about what is in the new law. That is how I know that this book covers and emphasizes the changes so well.