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Study guide for The New Bankruptcy

The study guide is provided to guide you through the course material in a step by step format.

Reading assignments are for The New Bankruptcy by attorney Stephen Elias-4th Edition

1) What is bankruptcy

Reading Assignment: Chapter 1 <<>> Review Questions: # 1-17

The learning objectives for this lesson are to gain an understanding of:

  • Types of bankruptcy
  • How bankruptcy stops collection efforts
  • The bankruptcy trustee
  • Changes to the bankruptcy laws
  • Business bankruptcies

2) Who can file for bankruptcy

Reading Assignment: Chapter 2 <<>> Review Questions: # 18-35

The learning objectives for this lesson are to gain an understanding of:

  • Credit counseling
  • How to calculate your income status
  • Chapter 7 eligibility requirements
  • Chapter 13 eligibility requirements

3) How Bankruptcy affects your debts

Reading Assignment: Chapter 3 <<>> Review Questions: # 36-54

The learning objectives for this lesson are to gain an understanding of:

  • Debts that will be discharged in bankruptcy • Debts that survive Chapter 7 bankruptcy
  • Debts that survive Chapter 13 bankruptcy
  • Debts discharged only under Chapter 13
  • How joint debts are handled

4) Your property and bankruptcy

Reading Assignment: Chapter 4 <<>> Review Questions: # 55-60

The learning objectives for this lesson are to gain an understanding of:

  • Your bankruptcy estate
  • How to inventory your property
  • How to value your property
  • Exemptions

5) Your home

Reading Assignment: Chapter 5 <<>> Review Questions: # 61-71

The learning objectives for this lesson are to gain an understanding of:

  • Homeowners filing for bankruptcy under Chapter 7
  • Homeowners filing for bankruptcy under Chapter 13
  • Renters filing for bankruptcy

6) What happens to property that secures a loan

Reading Assignment: Chapter 6 <<>> Review Questions: # 72-77

The learning objectives for this lesson are to gain an understanding of:

  • What are secured debts
  • How secured debts are handled in Chapter 7
  • bankruptcy
  • Eliminating liens in Chapter 7 bankruptcy
  • How secured debts are handled in Chapter 13
  • bankruptcy

7) . Your credit cards

Reading Assignment: Chapter 7 <<>>Review Question: # 78-79

The learning objectives for this lesson are to gain an understanding of:

  • If your balance is zero
  • If you owe money but are current
  • If you are in defaul

8) Your job, freedom and self-respect

Reading Assignment: Chapter 8 <<>> Review Question: # 80-81

The learning objectives for this lesson are to gain an understanding of:

  • Will you lose your self-respect?
  • • Will you lose you job?
  • • Effect of bankruptcy on job applicants
  • • Other forms of discrimination because of bankruptcy
  • • Effect of bankruptcy on child custody
  • • Effect of bankruptcy on your freedoms

9) Bankruptcy forms and procedures

Reading Assignment: Chapter 9 <<>>Review Questions: # 82-90

The learning objectives for this lesson are to gain an understanding of:

  • The means test
  • Challenges for abuse
  • Valuation hearings
  • Common Chapter 7 motions and proceedings
  • Conversions from one chapter to another
  • Potential problems in chapter 13
  • Filling out the bankruptcy forms

10) Getting help with your bankruptcy

Reading Assignment: Chapter 10 <<>>Review Questions: # 91-100

The learning objectives for this lesson are to gain an understanding of:

  • Debt relief agencies
  • Bankruptcy lawyers
  • Bankruptcy petition preparers
  • Books and Internet resources

11) Alternatives to bankruptcy

Reading Assignment: Chapter 11 <<>>Review Questions: None

The learning objectives for this lesson are to gain an understanding of your options:

  • Do nothing
  • Negotiate with your creditors
  • Get outside help to design a repayment plan
  • File for Chapter 11 bankruptcy
  • File for Chapter 12 bankruptcy

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