Article by: Larry Young, Esquire Title 11 of the United States Code is the Bankruptcy Code, enacted pursuant to Congress’s constitutional authority to make a uniform law respecting bankruptcy. Most people understand that the overall concept of bankruptcy is to get a discharge from debts and to get what the Bankruptcy Code refers to as a “fresh start.” Most people are also aware of what is normally dischargeable: credit cards, utility bills and medical bills, as well as mortgage and car loan deficiencies. Most people however, are unaware of the limitations that exist on the ability to obtain a discharge…. read more »
Bankruptcy and Divorce
Article by: Larry Young Bankruptcy and divorce. Divorce and bankruptcy. Either can be devastating. Either can turn your life upside down. Either will tax your budget and your support network of family and friends. Yet, few realize the close legal relationship between bankruptcy and divorce. From the stand point of causation, a study by the American Bar Association found that the single largest cause of marital disharmony is financial problems. Not every couple that files for divorce also files for bankruptcy and not every bankruptcy by a married couple results in divorce. Because of the fact that the two often… read more »