Subsection (15) of Section 523(a) was added to the Bankruptcy Code in the Bankruptcy Reform Act of 1994 to expand the Section 523(a)(5) exception to discharge for marital debts.  Section 523(a)(15) provides that an individual is not discharged from any…

The Means Test was another change that was added by the 2005 changes to the bankruptcy law.  It’s designed to force those that make over a certain amount to file a Chapter 13 bankruptcy instead of Chapter 7 under the…

One question I often get is whether or not a debtor must pay taxes on debt that is discharged in bankruptcy.  If a debtor negotiates with his or her creditors for a reduction in the amount of the debt, then…

Section 523 of the Bankruptcy  Code provides a laundry list of situations where a discharge is not allowed.  The text of the section is below.  The most common exceptions to discharge are: (1) Child support or other domestic support obligations;…

All individual debtors are required to obtain a certificate from an approved credit counseling agency prior to filing for bankruptcy.  This requirement was added by the changes made to the bankruptcy laws in 2005, and it applies to all individual…

The wildcard exemption is only available if you select the federal exemption scheme (as opposed to the Texas exemptions) (in other states, the federal exemptions may not be available, so check your state’s laws).  Where available, the so-called wildcard exemption…

One of the first questions I get from people considering bankruptcy is what they get to keep when it’s all over.  In bankruptcy lingo, these are referred to as exemptions – property which is exempt from being taken away from…

  Welcome to my blog.  I’m a little new to this, but my hope is to provide a useful tool with a wealth of information for those of you looking for answers to common (or not so common) bankruptcy questions. …