Rhode Island Bankruptcy Information Center

It is rare for someone who is represented by a bankruptcy attorney to lose their property (home, personal possessions, retirement plans, etc.) as a result of a bankruptcy filed in Rhode Island. The Rhode Island statute dealing with what you are allowed to keep or “exempt” in spite of a bankruptcy filing has some particularly […]

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According to a recent study, the typical Rhode Island house lost 25% of its value last year.  For many homeowners, the only alternative to losing a home to foreclosure may be to modify their mortgage.  Fortunately, current bankruptcy laws allow for many Rhode Island homeowners to dramatically reduce their monthly mortgage payments.
If your house is […]

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Many people think they won’t be able to sign up for new credit cards after filing bankruptcy. While all bets are off given the current credit crisis, in recent years the answer to the above question has typically been yes — it was fairly common to hear of clients receiving offers to sign up for […]

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Yes, in many cases you can. In Rhode Island, you can keep vehicles you own outright up to $12,000 under the state’s “motor vehicle” exemption. Even if your vehicle is worth more, you could potentially hold on to a vehicle valued up to $17,000 by also claiming the state’s $5,000 “wildcard” exemption.
If a creditor has […]

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Yes — in many cases filing a Chapter 13 bankruptcy can stop a home foreclosure sale from proceeding. Over the years, many Rhode Island homeowners have used this type of bankruptcy filing to prevent foreclosure and allow themselves to get caught up on their mortgage payments and keep their house.

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People sometimes find it necessary to file bankruptcy again. The good news is you can file again; the bad news is you may want to wait a while. Under the new bankruptcy law, you can file a Chapter 7 bankruptcy eight years after you initially filed for Chapter 7 . You must wait four years […]

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With a Chapter 7 Bankruptcy, many types of debt can be eliminated completely. However, not everyone is eligible to file for Chapter 7 bankruptcy. Multiple factors (such as your income level, family size, medical bills, etc.) determine whether you are eligible for Chapter 7. A Rhode Island attorney experienced with bankruptcy should be […]

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