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The US Government created Bankruptcy Debt Relief to Stop Runaway Debt

Bankruptcy debt relief is established by the US Government in the Constitution. Article 1, section 8 of the US Constitution grants the Congress the authority to establish and maintain Bankruptcy laws. Under these laws, a person can file for debt relief, even if they can't afford an attorney.

A growing number of people are filing bankruptcy without attorneys successfully.

According to the American Bankruptcy Institute, between the years of 2000 to 2010, 14,881,097 bankruptcies were filed by individuals and businesses seeking debt relief in the United States alone. This number represents more than three times the number of people living in Los Angeles and almost twice as many people that live in New York City.

People file for bankruptcy to stop harassment by creditors, lawsuits, and evictions. Another reason people file for bankruptcy is to protect their property. A lot of people are under the misconception that if they file bankruptcy they will always lose all their property. This is simply not true. US law establishes exemptions to allow people to protect a portion of their home equity, their car, furnishings and household goods, even retirement assets, such as pension plans, 401ks and IRAs. It is important to note that, the amount and specifics of each exemption can vary drastically from one bankruptcy court to the next.

Some very well-known companies in the United States who have filed for bankruptcy include: Enron, Washington Mutual Bank, Chrysler, IndyMac, CIT Group, General Motors, WorldCom, amongst others. Even celebrities have filed for bankruptcy. The following is only a small portion of the celebrity list: Donald Trump (four times since 1991 - possibly a record), Mickey Rooney, Willie Nelson, Tom Petty, Kim Basinger, Francis Ford Coppola, Walt Disney, and United States President Ulysses S. Grant filed bankruptcy after leaving office.

As a Bankruptcy Petition Preparer, once you have decided that filing for Bankruptcy Debt Relief is the right decision, we will work with you to create the petition paperwork, in the format the courts require. Should you be interested in filing bankruptcy and either cannot or do not want to use an attorney please contact us using the link to the left of the page.


Bankruptcy Basics Videos

The video series below was created by the United States Courts to provide individuals considering bankruptcy basic information to educate themselves about bankruptcy.

Bankruptcy Basics: Part 1


Bankruptcy Basics: Part 2


Bankruptcy Basics: Part 3


Bankruptcy Basics: Part 4


Bankruptcy Basics: Part 5


Bankruptcy Basics: Part 6


Bankruptcy Basics: Part 7


Bankruptcy Basics: Part 8


Bankruptcy Basics: Part 9