When You Have to File for Bankruptcy: Step-by-step Instructions to Take Control of Your Financial Future | 
| Author: Matt Pelc
Publisher: Atlantic Publishing Company (FL)
Category: Book
List Price: $24.95
Buy New: $15.44
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Avg. Customer Rating:  4 reviews
Sales Rank: 469958
Media: Paperback
Number Of Items: 1
Pages: 288
Shipping Weight (lbs): 0.6
Dimensions (in): 9.2 x 6.3 x 0.7
ISBN: 160138209X
Dewey Decimal Number: 332.750973
EAN: 9781601382092
ASIN: 160138209X
Publication Date: July 18, 2008
Availability: Usually ships in 1-2 business days
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Shipping: International shipping available
Condition: Brand new book. Shipped from our NYC store. Slight Shelf wear to cover. Pages are clean and unmarked.
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| Editorial Reviews:
Product Description
According to the United States Bankruptcy Courts, the number of bankruptcies filed each year is on the rise. People file bankruptcy for a variety of reasons, such as preventing foreclosure on their homes, preventing repossession of property, loss of employment, or reducing or eliminating debts. The most common types of bankruptcy for which individuals file are Chapter 7 and Chapter 13. Chapter 7 involves the surrender of property to pay debts, while a Chapter 13 bankruptcy allows for the retention of property but requires payments over the next three to five years. This book is divided into three sections: evaluating your need to file for bankruptcy, how to file for bankruptcy, and what to do after you have filed. In the first section, you will be provided with evaluation tools, determine your eligibility, learn how to check your credit report for accuracy, and learn about the different types of bankruptcy for which you can file. In the second section, you will learn about the major changes in bankruptcy law, bankruptcy lawyers, alternatives to filing for bankruptcy, bankruptcy code, collection agencies, exempt property, nondischargeable debts, what bankruptcy can and cannot accomplish, the automatic stay provision, foreclosure, tax levies, bankruptcy fees, the 341 meeting, bankruptcy myths, the initial consultation with your lawyer, and bankruptcy timelines. You will learn the answers to some of the most common questions about bankruptcy, such as: Will creditors stop harassing me? Will my spouse be affected? Who will know about my filing? Will I ever get credit again? What does it cost? The final section will provide a brief overview of what to do after you have gone through the bankruptcy process. We will address the issues of how to get car loans and home loans and how to build credit after bankruptcy. Whether you are filing for bankruptcy for the first time or, unfortunately, you have been through it before, When You Have to File for Bankruptcy will provide insight into the complex and burdensome process.
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| Customer Reviews:
Complete Guide! August 27, 2008
Rating: 4.7/5.0
"When you have to file for Bankruptcy" is in simple words - a great guide. Matt Pelc has written this book with experienced insight and has superbly covered the bankruptcy process. The bankruptcy process is a long and trying process. The person reading this book for the first time might be overwhelmed by the information and process detailed in the book but Matt Pelc is very good at nudging us to understand the procedure of bankruptcy and guiding the reader to clearly understand the course of action needed.
The book includes many examples to help the reader clearly understand what Matt Pelc is trying to explain. The case studies are a great resource to further comprehend the bankruptcy process. I especially like the part where Matt Pelc discusses how we can ensure we do not land in the same situation a few years later by guiding us as to where to cut expenses and what to watch out for.
The book has some dry spells but the bankruptcy procedure, itself, is a long drawn out process. Matt Pelc, as simply as possible, details the entire bankruptcy, explaining the law, the various forms that need to be filled, the obstacles involved while strongly urging the services of a lawyer.
A Fantastic Guide to Walk You Through the Bankruptcy Process August 15, 2008
When You Have to File for Bankruptcy is an excellent guide for anyone contemplating backruptcy. It carefully explains the pros and cons of filing bankruptcy in language anyone can understand. The different types of bankruptcy are described as well as what to expect during each stage of the process. Following the book makes it easy to be prepared with your necessary documents ahead of time. Mr. Pelc removes the fear, as well as the stigma, from filing for bankruptcy. The book also helps you repair your credit and create a budget after the bankruptcy is over, putting you back on the road to good financial health.
I rate this book five out of five stars.
Great advice for before, during and after a bankruptcy filing August 15, 2008
Deciding whether you should file for bankruptcy is a very serious matter, particularly when you stop to consider that a successful bankruptcy can take months or even years, and that the filing can remain on your credit report for another decade. The decision is one that should involve tremendous thought and research.
This book is an invaluable tool because it offers great insight into what to expect before, during and after filing. Readers are also given other possible solutions and suggestions to try before filing.
In the past several years, bankruptcy laws have changed dramatically. The author looks at those changes and gives you sound advice on how to avoid the pitfalls which could complicate or adversely impact an already problematic situation.
His information and guidance are posed in simple terms to help regular citizens wade through all the legal jargon and court proceedings. He also takes great pains not to judge anyone who has found themselves in the situation and he offers a great deal of hope and encouragement for the future.
The author strongly recommends that legal advice be obtained and backs up his recommendation with expert testimony showing that very few bankruptcy cases are successful without proper counsel.
In addition to describing the basic types of bankruptcy filings, from Chapter 7 to Chapter 13, the book also provides advice about life after a bankruptcy. Topics include everything from creating a realistic budget, to using the experience to become a savvy, informed consumer, and what to do with all the credit card offers you'll receive after a discharge
Must Read for anyone CONSIDERING bankruptcy August 14, 2008
This book changed my whole perception about the concept of "Bankruptcy." Honestly, before I read it I had a very unflattering opinion and negative bias against individuals and organizations that filed for bankruptcies. But after reading this book I realized I was wrong.
The author of When You Have to File for Bankruptcy does a wonderful job of explaining that bankruptcy is not a dirty word, and that the vast majority of the filings are actually precipitated by catastrophic health issues, job loss, divorce and unforeseen events. Generally speaking, it's not individuals living recklessly beyond their means that account for the majority of filings, it's actually individuals seeking a second chance on the other side of circumstances beyond their control.
Matt Pelc's accessibly-written book was not only informative and interesting but it was also extremely current. For instance, he provides a chart regarding annual bankruptcy filings that includes data for 2007, while a completely different chart on unemployment numbers contains statistics from January 2008. Usually writers dig up dusty factoids and dated data to reinforce their points - but not Pelc.
In the book, Pelc does a superb job listing recent changes to federal bankruptcy laws and how those changes have translated into real-world applications since the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. While his discussion about foreclosures and liens reads like today's newspaper, addressing the current mortgage crisis with stats and facts as recent as March 2008.
Beyond those specifics, Pelc masterfully explains the general types of bankruptcies (e.g. Chapter 7, 13, 11 and 12) as well as defining the critical "means test" that is necessary to determine whether or not you are even eligible to file. I really appreciated his overview of what to look for in an attorney to help you through the process, what questions to ask a lawyer and estimates on how much the entire legal process could cost.
But he doesn't stop there.
Pelc goes further to even include a section about Debtor's Anonymous (p. 222) to help individuals who do get a second chance through bankruptcy to take positive steps toward a debt-free future.
If you are even considering the remote possibility of filing for bankruptcy, do not take another step down that path without reading this book first. I believe that it can help any individual avoid potential frustration, pitfalls and problems that are inherent within the bankruptcy process, while making the best of a suboptimal financial situation.
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