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Individuals considering Chapter 7 bankruptcy in California often think they will have to give away all of their property. This bankruptcy myth can keep some people from filing bankruptcy for months, even years. Meanwhile, they continue to build debt and fall further into financial turmoil.

The debates between President Barack Obama and Governor Mitt Romney have touched on the auto bailout and whether there was a bankruptcy alternative. According to Romney, the government should have “Let Detroit Go Bankruptcy” (that was the title of his opinion article in The New York Times in 2008). He asked the government to put the automakers through a managed bankruptcy, rather than bailing them out.

It is a moment that every in-debt person fears: your cellphone rings and the number is unrecognizable. What’s the most likely reason for the call? Sure, it could be a distant family member — or maybe the job offer you have always wanted is just on the other end of the line. But the reason you are receiving this call is almost certainly because a debt collector is trying to garner the funds you owe.

Last week, we discussed some of the key Chapter 11 bankruptcy terms. We continue our discussion this week, defining some of the main actions you may see in a Chapter 11 bankruptcy.

Determining how a Chapter 11 bankruptcy works before your company files for Chapter 11 can be confusing, in part because the bankruptcy code is complicated. This blog post and next week’s post will discuss some of the key terms you might see while researching Chapter 11 bankruptcy.

American Suzuki Motor Corp recently received bankruptcy court approval to borrow money from its parent corporation, Suzuki Motor Corp.

Dynegy, an electric power producer that operates gas-fired and coal power plants in California and four other states, recently emerged from a three-month bankruptcy and is being publicly traded again. The case is an example of how even a contentious Chapter 11 bankruptcy can help a company emerge from debt successfully.

Appointed by the U.S. trustee in Chapter 11 cases, creditors’ committees are managed by the bankruptcy trustee and are usually comprised of unsecured creditors with multiple claims against a debtor. Their impact on a Chapter 11 bankruptcy can be significant, depending on the specifics of the case.

When someone is facing foreclosure, anything that promises to help them save their home can seem like a good option. Unfortunately, that is exactly what some criminals want debtors to think.

If you are considering filing for bankruptcy, you might wonder what you should do about your credit card debt. You should know that it is generally not advisable to pay off your credit card debt or to continue to use your credit cards prior to filing for bankruptcy.