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Bankruptcy-General Info>Bankruptcy MENU

Bankruptcy MENU

  • Chapter 13 Bankruptcy
    Chapter 13 Bankruptcy - Chapter 13 of the United States Bankruptcy court provides relief to debtors who want to discharge their debts but are unable to do so because of financial constraints. The reasons may vary: unemployment, marital problems, medical expenses, or extended credit limit. If you find yourself in a situation such as this, it can be a harrowing experience. You may have to face the persistent and sometimes threatening demands of creditors. You may also face lawsuits.

    • Attorneys - Chapter 13 Bankruptcy
      Attorneys - Chapter 13 Bankruptcy - Filing for bankruptcy under chapter 13 may not be an easy task for a person who is already harassed by lawsuits filed by the creditors, or their persistent phone calls demanding refunds. Filing for bankruptcy without legal help can ...

    • Law - Chapter 13 Bankruptcy
      Law - Chapter 13 Bankruptcy - Chapter 13 bankruptcy law contains procedures to discharge the debts of individuals or couples who have a regular source of income and are sincere in their intention to pay off their financial liabilities. The law places limits on ...

    • Refinancing - Chapter 13 Bankruptcy
      Refinancing - Chapter 13 Bankruptcy - Chapter 13 of the US bankruptcy code comes to the aid of the people who, on account of some untoward circumstances, are unable to pay off their debts. Such individuals can approach

    • Relief - Chapter 13 Bankruptcy
      Relief - Chapter 13 Bankruptcy - You can file for bankruptcy under chapter 13 if you are unable to pay off your debts to creditors. Most people, at some time in their lives, may find themselves in situations when they are unable to pay their debts because of expensive medical bills, marital problems, or extended credit limits.

    • Trustee - Chapter 13 Bankruptcy
      Trustee - Chapter 13 Bankruptcy - A trustee is an official appointed by the bankruptcy court who assists in executing its orders and facilitates the process of payments from the debtor to his creditors. The trustee coordinates the process of ...

    • Filing - Chapter 13 Bankruptcy
      Filing - Chapter 13 Bankruptcy- There is a special procedure for filing an application for bankruptcy under Chapter 13 of the United States Bankruptcy Code. The debtor can file the application only in the court of the city where he actually resides. In other words, the court should be located at the place of the debtor's domicile. The application is a two-page form. This has to be duly signed by the debtor and his attorney.

  • Chapter 7 Bankruptcy
    Chapter 7 Bankruptcy - Chapter 7 bankruptcy, also called straight bankruptcy, helps debtors to liquidate some of their debts, mostly unsecured, and enables them to make a fresh start in life without being incessantly harassed by the creditors' calls for refunds. Cases filed under chapter 7 are usually decided within a period of four or five months.

    • Qualification - Chapter 7 Bankrupcty
      Qualification - Chapter 7 Bankruptcy - Filing for bankruptcy has become the only relief for thousands of people who are experiencing massive debts. According to section 11, an individual, a partnership or a corporation or other business entities can qualify for relief under chapter 7 of the Bankruptcy Code. On October 17, 2005, a "means test" was enacted to determine whether a debtor is eligible to ...

    • Attorneys - Chapter 7 Bankruptcy
      Attorneys - Chapter 7 - It is not essential that you engage an attorney for filing under chapter 7, but the fact is that you cannot do without expert help if you have to meet complicated legal situations. This becomes especially true when you have to deal with a

    • Law - Chapter 7 Bankruptcy
      Law - Chapter 7 Bankruptcy - Chapter 7 bankruptcy aims at giving a fresh start to a person who is too heavily burdened with debt to discharge it in a normal manner. Since chapter 7 completely wipes out his debts, it is also known as a 'liquidation bankruptcy' as opposed to chapter 13, which is known as ...

    • Refinancing - Chapter 7 Bankruptcy
      Refinancing - Chapter 7 Bankruptcy - Filing for bankruptcy under chapter 7 does provide relief to the debtor who is unable to discharge his debts and is hounded by the persistent demands of the creditors to pay back the loans. The relief provided by the court, if it writes off your debts, may prove to be short-lived when you realize that it is no longer easy for you to obtain finance to start life afresh.

    • Relief - Chapter 7 Bankruptcy
      Relief - Chapter 7 Bankruptcy - You can file for bankruptcy under Chapter 7, if circumstances are such that you are unable to pay off your debts and the persistent visits of the creditors are making you a nervous wreck. Seventy percent of the consumers get ...

    • Trustee - Chapter 7 Bankruptcy
      Trustee - Chapter 7 Bankruptcy- A trustee, usually a lawyer and an expert in bankruptcy cases, is appointed by the bankruptcy court to administer the assets of the debtor. He examines the petition filed by the debtor and determines whether or not he has any assets that are not protected under chapter 7. If the debtor is found to possess any property that can be sold, it is not exempted. The trustee, however, exempts property which is mortgaged against secured loans, such as a car or a home.

    • Filing - Chapter 7 Bankruptcy
      Filing - Chapter 7 Bankruptcy- Chapter 7 bankruptcy law does not place any limit on the amount of debt that is required to make an individual eligible to file a petition in the bankruptcy court. Anyone can file chapter 7 bankruptcy--individuals, married couples or businessmen, sole proprietors or partners. To file for bankruptcy, you will first have to ...

    • FORMS-Chapter 7 Bankruptcy
      FORMS- Chapter 7 Bankruptcy - chapter 7-bankruptcy case starts with the debtor filing a two-page petition with the bankruptcy court. Statement of financial affairs with schedules of assets and liabilities, current income and expenditures, unexpired leases and contracts must be attached with the petition.

    • SOFTWARE-Bankruptcy Chapter 7
      SOFTWARE Bankruptcy Chapter 7 - This is the age of computers and the computer has given its Midas touch to each and everything in our life. Legal procedures have also witnessed the information technology revolution. As many software a GOOGLE ADSENSE nd web based solutions are available for legal work, one can file for bankruptcy using the computer

    • Exemptions - Chapter 7 Bankruptcy
      Exemptions - Chapter 7 Bankruptcy - Chapter 7 is a “liquidation” of nonexempt assets to pay debts. In an orderly, court-supervised procedure, a court appointed trustee liquidates the non-exempt assets of the debtor’s estate and makes distributions to creditors. In Chapter 7, the debtor selects property he/she is eligible to keep from either a list of ...
    • Purpose of Bankruptcy -Bankruptcy allows debtors to be discharged from the legal obligation to pay most debts by submitting their non-exempt assets, if any, to the jurisidiction of the bankruptcy court for eventual distribution among their creditors.
    • Duties of Trustees - Some of the duties of the trustee in bankruptcy are to:

      Review the file for any fraudulent preferences or reviewable transactions
      Chair meetings of creditors
      Sell any non-exempt assets
      Object to the bankrupt's discharge.
      Distribute funds to creditors.

     

     

     

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