Bankruptcy News And Advice Now Available On BankruptcyBalance.com

Online, January 14, 2011 (Newswire.com) - BankruptcyBalance.com, a website dedicated to providing bankruptcy information and resources, now also offers regular news updates on consumer and business bankruptcy, trends and statistics, and important changes in bankruptcy law. The new feature aims to give debtors and creditors a new tool to help them keep abreast of relevant issues at a time when new developments take place almost every day.

Launched in 2010, BankruptcyBalance.com is managed by a team of bankruptcy lawyers and finance professionals, and is targeted towards debtors considering or already in the process of filing bankruptcy. Besides weekly news, the site also offers guides to different bankruptcy chapters, relevant laws, and step-by-step guides to filing bankruptcy for both individual and corporate debtors.

The news section culls material from various online sources, including bankruptcy blogs, lawyers' associations, and leading newspapers and magazines throughout the U.S. The Bankruptcy Balance team selects the most relevant items to put on the site, giving readers a quick look at what's going on in the bankruptcy business. The section is updated once a week and appears on the front page of BankrutpcyBalance.com.

News items often include insights and advice from academics, lawmakers, and experts in the field, usually from interviews with major publications. This helps put the news into context, helping readers understand how events can affect their case and influence their decisions. Although more focused on consumer bankruptcy, the section also includes a fair share of clips from high-profile business bankruptcies.

BankruptcyBalance.com also offers a question-and-answer page where readers can have their questions answered by bankruptcy lawyers and professionals. Readers can simply enter their questions and provide details about their case, and answers will be posted on the page. Questions and answers are made public so that lawyers' advice is available to all readers, allowing them to learn from other debtors in similar situations.

A Bankruptcy Law section guides readers through the most important parts of the U.S. Bankruptcy Code, including Chapters 7, 11, and 13, and the changes that have taken place since laws were overhauled in 2005. It also explains how the new rules affect their options, and how they can work with their bankruptcy attorneys to make sure they make the right decisions.

Personal and corporate bankruptcies have been on the rise since the economic downturn in the U.S., markedly after the spectacular fall of investment firm Lehman Brothers. The goal of BankruptcyBalance.com is to provide a simple, straightforward guide to filing bankruptcy in a troubled market, and to help connect debtors and lawyers who can best serve each other's needs.