People who have no valuable assets and only exempt property—such as household goods, clothing, tools for their trades, and a personal vehicle worth up to a certain value—may end up repaying no part of their unsecured debt.3 Chapter 11 Bankruptcy Businesses often file for Chapter 11 ...
Understanding the bankruptcy property exemption could help you keep valuable assets and lower what you repay your lenders. The central concept of bankruptcy law is getting you a fresh financial start. Part of the idea is that you can start over with a minimal amount of essential assets to permi...
The bankruptcy court considers secured debt to be higher priority because failing to pay it can allow the creditor to lay claim to the property serving as collateral. Once all the essential information has been filed with the court, the court appoints a trustee, whose job is to make sure tha...
If you have lost your financial aid eligibility because of a cumulative GPA that does not meet the minimum requirements, then declaring academic bankruptcy may help you regain your financial aid more expeditiously. However, because policies vary from college to college, you should discuss this situat...
People who have completed a business degree are considered to be so valuable because they understand the practical application of the maths that they have learned, which is something that people who took a standard accountancy degree often have to be trained on. ...
The Asia JV was, and is, a valuable business. That value became the focus of the Toys Debtors in the U.S., who argued they were entitled to access it through different inter-company arrangements. For that reason, the chapter 11 cases were marked by various inter-estate disputes over (a...
Struggling with debt? Contact The Ballard Law Group for a free consultation. We provide bankruptcy advice to people throughout the Lawrenceville area.
Have you been struggling to keep up with bills every month because of a job that pays less than what you used to make? It is in your best interest to seek the help of anexperienced bankruptcy attorneyin Cincinnati, Ohio, and throughout Hamilton County. ...
very effective in solving short term business problems in an otherwise viable company or winding down a company with valuable assets. (Also included below are instances in which brands have entered intoadministration, an insolvency process in the United Kingdom by which a company is “placed under...
is the most common form. In Chapter 7 debts like credit cards, medical bills, and utility bills can usually be completely discharged or wiped out. Bankruptcy courts may use some property to repay creditors; however, bankruptcy laws allow individuals to keep many of their most valuable assets. ...