• Bankruptcy Urban Legends

    Keith Rucinski, Ch 13 Trustee, Akron, OH

    This article debunks many of the untruths about personal bankruptcy.

  • People Facing Debt Have Options

    Melinda Opperman, President, credit.org

    When people are struggling with debt, they have more options than they may realize.

  • Nine Things to Look for When
    Picking a Bankruptcy Lawyer

    It is important to have a good attorney by your side.

  • BFine Terms You Need to Know

    Managing your financial future is easier when you understand what is being said.

  • Co Signers Put Themselves
    in Creditor’s Spotlight

    The responsibility of a co-signer is one of the
    single most common misunderstandings about law.

Bankruptcy and Finance Information Network Exchange

The Bankruptcy and Finance Information Network Exchange (BFINE) website compiles educational articles and information to help Americans learn more about personal finance options and make informed decisions for their financial future.

Too often decisions are made based on myths or fear instead of facts. No matter the financial situation, there are steps everyone can take toward financial security.

You are not alone. There are professionals willing to help everyone recover from unfortunate circumstances and financial mistakes.

When you make educated financial decisions, everything will BE FINE.

  • Bankruptcy Urban Legends

    Keith Rucinski, Ch 13 Trustee, Akron, OH

    “If I file for personal bankruptcy I will lose my car and house, and be left destitute the rest of my life.”

    This is one of the most common urban legends about bankruptcy.   Filing for bankruptcy does not mean you will lose all your “stuff” and be left destitute.  The purpose of bankruptcy is to allow people to get a fresh financial start.   Some famous people who have filed bankruptcy to get a fresh start include Harry Truman (33rd President of the United States), Walt Disney, and Henry Ford. 

    There are two types of consumer bankruptcy, Chapter 7 and Chapter 13.

  • BFine Terms You Need to Know

    BFine Administrator

    Managing your financial future is easier when you understand what is being said. Below are some of the key terms that are used with finance and bankruptcy.

    For more definitions visit:

    341 meeting
    The meeting of creditors required by section 341 of the Bankruptcy Code at which the debtor is questioned under oath by creditors, a trustee, examiner, or the U.S. trustee about his/her financial affairs. Also called creditors' meeting.

  • Nine Things to Look for When Picking a Bankruptcy Lawyer

    BFine Administrator

    Deciding to file bankruptcy is difficult, stressful, and can seem expensive. It can involve other family members and will have a lasting effect on your financial future.

    The process is complicated. It is important to have a good attorney by your side.

    How do you pick a good bankruptcy attorney? The choice is very important and it is usually made when you are stressed out.  Here are things to consider when picking a lawyer.

    • People Facing Debt Have Many Options

      Melinda Opperman
      President, credit.org

      When people are struggling with their debts, they have a lot more options than they might realize. There are professionals, non-profit organizations, and free online resources available to help no matter how one’s personal finances look.

    • Settled medical debt is now dropping off credit reports — here’s how to check your record and make sure it’s right

      CNBC - July 1, 2022

      If medical debt you’ve already paid has been lingering on your credit report, you may want to see if that has changed.

    • A temporary student loan forgiveness waiver ends soon: Are you eligible?

      The Hill - July 3, 2022

      In the fall of 2021, the Public Service Loan Forgiveness Program was overhauled by the Biden administration. Since then, thousands of borrowers have received $8.1 billion in student debt relief.

    • The Circuit City Landmine (Siegel v. Fitzgerald): Supremes Declare Bankruptcy Fee Hike Under United States Trustee Program Unconstitutional –What Happens Next?

      JDSupra - June 10, 2022

      While it is becoming increasingly rare for the Supreme Court to speak with a singular voice on virtually anything these days, bankruptcy provides a rare exception.

    • It's the Law: What can I keep in bankruptcy?

      Post Register - May 29, 2022 

      Many people wonder if they file for bankruptcy, what will they get to “keep?” Will they get to keep a house, a car, or an investment property?

    • When it Comes to Personal Finance, Budgeting is an Essential First Step

      Melinda Opperman,
      President, credit.org

      Anyone hoping to take control of their personal finances must start with budgeting.

      Simply put, a budget is a plan. People need to plan for how much they’ll earn, how much they’ll spend, and what their long-term financial goals will be.

    • State-by-State List of Statute of Limitations on Debt

      The Balance - January 7, 2022 

      A statute of limitations is the amount of time a person can take in order to take legal action on a certain event. When it comes to debt, the statute of limitations is the amount of time a creditor can take before asking the court to force you to pay for a debt.

    • Floridians see personal finance class requirement as a positive for students

      WFSU - May 15, 2022 

      Residents across north central Florida are optimistic about the potential impacts of a new law requiring a personal finance class for graduation.

      Gov. Ron DeSantis recently signed the measure that will require high school students to complete a half credit course on personal finance before graduation.

    • Where credit scores come from and why they don’t quite add up — but can

      Boston Globe - May 30, 2022 

      It didn’t count, but it should have. Boni, who moved to the United States from Mexico in his late 20s, needed to buy or rent equipment for his growing independent construction business. It was 2016, and he was earning decent money and paying for his housing and other living expenses. But with no credit history, his options for expanding his work opportunities were limited and involved high interest rates that seemed both expensive and risky.

    • CFPB, Banking Agencies, and State Regulators Warn of Increased Scrutiny on Mortgage Servicers

      JD Supra - Nov. 18, 2021

      The CFPB, federal banking agencies, and state regulators are returning to pre-pandemic norms with respect to enforcement and supervision of the mortgage servicing industry. On November 10, 2021, the Board of Governors of the Federal Reserve, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, the Office of the Comptroller of the Currency....

      A public education project of the National Association of Chapter Thirteen Trustees

      © 2021 BFINE

      The materials on this website are for general information purposes only and should not be construed as legal advice, legal opinion, or any other advice on any specific facts or circumstances. You should not act or refrain from acting upon this information without seeking professional advice.