Category Archives: Bankruptcy Basics

Bankruptcy Basics: The Discharge Order

The main reasons that people file bankruptcy are to stop creditor harassment and get rid of their debts.  For individual debtors, the normal conclusion of a successful bankruptcy results in the entry of a discharge order.  But what exactly is a discharge order? A bankruptcy discharge is a federal court order that prohibits the collection…

Understanding Bankruptcy Basics

What Kinds of Bankruptcy Are There? There are two main types of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 11 is mainly for large companies like Chrysler and General Motors and for individuals who have too much debt to qualify for Chapter 13.  Chapter 12 applies to family farmers. Chapter 7 is what comes…