Business Bankruptcy Law | Small Business Bankruptcy Laws

A few years ago my partner and I purchased a home as joint ownership. Later the same year, we purchased another home and the first became a rental. The relationship is over, he is in financial trouble and insists on foreclosure for the rental home. The ARM is due now w/large increase. Our residence has a 7/1 ARM due next year. He plans to foreclose house #1, claim bankruptcy & live in house #2. He wants me to sign both over to him in order to protect my credit & other properties I own, using this as a threat. I don’t want to foreclose & bankruptcy, but don’t know how to handle this situation, keep my home(s) & good credit. I don’t know the laws & not a good business person. Looking for advise.

going through bankruptcy. Our house is in foreclosure but we are blessed because we have a place at our business to live so we will be okay. Our business will re-organize. Everythung will get better.
We have a place to go but I worry about the ones who don’t. Who have it worse.
How are all of you out there are holding on?
Is the economy hurting you?

I know, my bad, economy crumbles, business closes, cannot collect unemployment, jobs are basically nonexistent, people being laid off everyday and businesses that have been in business for many generations closing their doors. This is what has happened in my county. So please leave the get the job comments out because believe me I have tried as well as thousands of others. Don’t say pay your bills because I would if I could. We have no other choice but to file bankrptcy-house in foreclosure now, vehicles repoed. We are well aware that you can’t have what you cannot afford. Have sold most of our possessions-we sleep on a mattress on the floor. What I need advice on is we filed BK 3-30-09 and debt collectors are still calling us even thought we have given them the name of our attorney and other info regarding the BK. Attorney says to ignore the calls and they will stop, but they haven’t. What should we do now? Shouldn’t our attorney be reporting them to the court since this is a violation of the BK code of stay? Helpful suggestions only please.
I have told these collectors about the BK and have already given them attorney’s number. I have not answered my phone since I gave them the info.

What if I choose not to file bankruptcy? Due to the poor economy and job lose I simply walked away from a home and business. If I don`t file for bankruptcy what will I have to contend with? Its my understanding that bad credit falls off after 7 years. Bankruptcy stays on for 10. How long does a foreclosure stay on? Am going back to college. I can`t afford to hire an attorney. Even if I did the trustee will take my only means of transportation used for work and school. If I file I will be in worse shape.

Can some one please advise me of how to handle this situation? Am really trying to get on my feet again. Am working and going back to school

Thank you

I live in Nevada and filed for bankruptcy 12/3/08 due to a business failure in the trucking business. My house went into foreclosure in November and I know when you file for bankruptcy it starts the foreclosure process over. Has anyone else gone through this and how long did you have until you had to move out of your house? My attorney says to plan on being out my March.
Thank you for any answers or advice.

I am planning on filing Chapter 7 bankruptcy due to a failed business and a foreclosure on investment property. Total debt is 190K and my total household income for a family of 3 is also 190K. I am wondering if I am have too much income per the new bankruptcy laws. I would like to avoid chap 7 but I can not afford this additional debt.
Please keep in mind the 190K is the debt for the failed business expenses. This does not include my actual debt which includes my current home, auto, living expenses, etc