Bankruptcy provides a relief to debtors who are facing unsurmountable debt and is an avenue towards better financial management. While the remedy bankruptcy affords is a wipe out of old debt that was incurred prior to filing for bankruptcy, it is important that debtors are aware and cautious about how they are spending their money in the 90 days prior to filing for bankruptcy

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today let’s talk again about a more current topic: cryptocurrency. This post will continue to merely skim the surface of current cryptocurrency issues, for what it is worth. Today, let’s discuss a scam that occurs in the industry: pump and dump.

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we continue to discuss public benefits in the 21^st century by turning to food assistance and benefits aimed at needy families and children.

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we continue to discuss public benefits in the 21st century. Finally, we finish off our round up of public benefits by discussing workers’ compensation and unemployment benefits.

Welcome back to our series of blog posts on the history and philosophy of the economy, bankruptcy, and debt – today we discuss public benefits, which are today are generally couched as welfare. 

At the moment you file for bankruptcy, “automatic stay” kicks in, pursuant to Section 362 of the U.S. Bankruptcy Code. It is an order that gets sent to your creditors immediately, after you file for bankruptcy. The automatic stay affords protections throughout your bankruptcy, regardless of whether you file a Chapter 7 or a Chapter 13 bankruptcy. It is a provision in bankruptcy law that acts as a protective shield and protects you from creditors, while at the same time, providing you time to reorganize your debts, finances, and financial affairs.

Filing bankruptcy is a court action. The bankruptcy filer will file a petition, and receive a case number, meet with a trustee, and there is a possibility of additional court actions, motions, and ultimately the case will be discharged and closed. But, as a bankruptcy filer you have some responsibilities to the court. Bankruptcy exists for the protection of the debtor and to provide the debtor with relief from their creditors, but there is also an onus on the debtor when filing.