Bankruptcy Terms & Definitions

Bankruptcy Terms

In response to a listener question about the meanings of some of the words used in the podcasts and the bankruptcy podcasts, I have decided to record a single podcast just on the definitions of some of the most frequently used words in bankruptcy.

This podcast is for the auditory learners out there, the ones who get frustrated by reading things on a screen and would much rather hear the definitions.  It's probably the longest podcast I've recorded, and unless you are constantly wondering what a creditor is, or who is an insider, it might feel kind of long.  It is important, nonetheless, to make sure everyone understands the basics of the "language of bankruptcy."

The terms are selected and read from a glossary located at: http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/glossary.html 

The Bankruptcy Means Test

The Means Test            

Continuing in our series on the Bankruptcy Code changes, implemented in 2005, Christopher Missick spends a few minutes in this podcast addressing the implementation of the means test.  He explores what it is, why the credit card lobby fought to have it included, and whether the impact on debtors was as bad as we all first assumed it would be.  

As always, this does not constitute legal advice or an attorney client relationship.  Please contact the offices of the Missick Law Group at info@missicklaw.com with questions.

Household Names In Bankruptcy

Household Names In Bankruptcy

Even though this seems to be one of the favorite subjects for bankruptcy attorneys to trot out to make their clients feel better, I do believe it is important to discuss just how many inspirational people have faced financial situations so dire they were pushed to file for bankruptcy.  

This short podcasts explores this subject and drops some famous names you might be surprised were forced to Begin Again.

The Morality of Bankruptcy

The Morality of Bankruptcy

One of the most difficult issues for people to confront in bankruptcy, are feelings of guilt or shame.  In this podcast, I examine the moral issues that are involved in filing a bankruptcy, and refute the allegations that filing bankruptcy is an inherently immoral act.