Understanding the basics of bankruptcy, the types available, and the process involved can help you make informed decisions. Types of Bankruptcy In the U.S., the most common types of bankruptcy are Chapter 7 and Chapter 13. Chapter 7 Bankruptcy, also known as liquidation bankruptcy, involves ...
Is Chapter 7 Bankruptcy Right For Me? Many people hesitate to file for Chapter 7 bankruptcy because they believe that they will lose everything they own in the process. The Bankruptcy code was not written for the benefit of only creditors. It was written to give people who were struggling w...
She says it's better to take "the legal route that is claiming bankruptcy, to let your creditors know that you really can't afford to pay it." The most commonly filed types of bankruptcy by an individual are Chapter 7 and Chapter 13. Here's what you need to know about both. Bankrup...
The target of this chapter are people who have too much income to qualify for chapter 7 bankruptcy. This is less of a type of bankruptcy, but rather a wage earner’s plan that lets an individual pay their debt over an extended period of time. These different types of bankruptcy benefit e...
The Law Offices of Chirnese L. Liverpool helps individuals whose problems with debt, foreclosure, garnishment or other financial issues need immediate attention. For many people, bankruptcy under Chapter 7 or Chapter 13 will make a positive difference to relieve immediate crises and to discharge or...
Qualified personal and business bankruptcy attorney represents individuals, corporations and small businesses in Chapter 7, 11 and 13 filing in Minneapolis, Bloomington and throughout Minnesota. In addition to his bankruptcy practice, Mr. Hoverson repres
What is Chapter 7 Business Bankruptcy? Chapter 7 bankruptcy is available to all business entities as a way to close up shop, liquidate business assets, and distribute the proceeds of liquidation to creditors in an orderly fashion. Because sole proprietors and single-member LLCs are “flow-throug...
In early October 2022, Phillips & Thomas LLC successfully litigated a student loan adversary proceeding that arose out of a Chapter 7 bankruptcy case in the District of Kansas. The case wasIn Re Vasko(Adv. No. 21-6020, District of Kansas, June 7, 2021). The facts were as follows. ...
Many individuals considering Chapter 7 bankruptcy are concerned that they will lose everything. In Georgia, bankruptcy exemptions are laws that govern what you can keep. This covers many things, including your home, car, household goods, clothing and retirement plans. Borrowing Again to Rebuild Your...
What Human Service Workers Need to Know About Bankruptcy.The article presents questions and answers related to bankruptcy law including the meaning of secured and unsecured debt, who can file for Chapter 7 bankruptcy, and how to manage clients who may be preparing to file for bankruptcy.Pollack...