The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA), attempted to redress what was perceived to be a failing under prior law. In Chapter 11 Cases (especially larger cases), smaller “trade” creditors and smaller interests were often frozen out of the process and of qualification for Committee membership, by the mere presence of huge bondholder representatives, pension funds, and the like. The intention, under earlier law, was to create a Committee, generally of seven members, consisting of the largest unsecured creditors, with claims generally representative of the types of debt extant in the case. This, of course, proved easier in theory than in practice, as large cases tended to be replete with public debt, managed by institutional holders. The result, often, was that smaller trade creditors, or “mom and pop” businesses were simply not given a seat at the table, and were effectively not afforded the advantages of participation in the reorganization negotiation process…

If you want to increase your chances of qualifying for a mortgage after bankruptcy, here are some steps you can take: First, if you plan to apply for a mortgage after bankruptcy, you will want to have any inaccurate or obsolete negative information on your credit reports corrected or removed. This can help increase your credit score…

As part of my job, I come across many different debt settlement and credit counseling companies advertising creative. A current trend that I have seen is the touting of the new bankruptcy law. The creative informs the consumer that filing for bankruptcy is nearly impossible or isn’t allowed anymore. Their lives would be ruined, etc. That’s simply not true…

Credit is hard to come by if you have a bankruptcy on your record. You are guaranteed higher interest rates. You may even be targeted by unscrupulous lenders who believe that you are probably desperate and will agree to anything. Don’t despair; there are ways to re-establish your good credit. Make this your main goal…

Have you got yourself into a bit of a pickle? Debt problems have a funny way of piling up so high that sometimes you’re forced to stop and ask how the situation got this bad. Even though many people will state that you did it to yourself, very often it is out of your personal control. You now have to make a decision, file for bankruptcy or more of the same while it steadily becomes worse…