Customer Reviews

Personal Bankruptcy Laws For Dummies

5 star:		(2)
4 star:		(1)
3 star:		(2)
2 star:		(0)
1 star:		(0)

 

 

Personal Bankruptcy Laws for Dummies is the one and only book I found that explains the intricacies of the new bankruptcy law, gives the reader all the information needed to make a rational decision on whether bankruptcy is the appropriate remedy for his or her financial illness, and provides a wealth of information in a manner that neither patronizes nor condemns. Although it recognizes the emotional toll that financial difficulties inevitably place on individuals and couples, its strength is in giving the reader all the information necessary to make a reasoned decision on whether bankruptcy is the best route and, if so, under which chapter of the Bankruptcy Code.

This book gave me all the information I needed, along with some comfort. Bankruptcy is heartbreaking, I'm appreciated the comforting side notes and encouragement.

This book will help you be conversant on some complex legal subject. You won't be able to do your own bankruptcy, but you'll be so much further ahead than talking 'cold' to an attorney. Did you know lawyers lie? Yes they do. I met with three different lawyers, and they all gave me a different line about my financial status. You will need to make some decisions yourself, and this book is a good resource.

I am a big fan of the "Dummies" books. But in this case, the book seems to focus mainly on consumer debt. If you are dealing with a lawsuit, this book does not help. These days, anyone can sue anyone with assets, and there are no limits to the amount they can ask for. This is a growing problem and bankruptcy books should be addressing this problem.

For individuals with modest w-2, you will probably file under Chapters 7 or 13. The New Bankruptcy: Will It Work for You? (2nd edition) covers those Chapters well. For businesses or individuals who own businesses or have higher incomes or net worth, the choice will probably be Chapter 11. A great introduction to Chapter 11 is Chapter 11 Business Reorganizations: For Business Leaders, Accountants And Lawyers.