Before choosing this option, be sure to understand the differences between debt management versus debt settlement. Bankruptcy FAQs Are there any benefits to bankruptcy? There are certain benefits to filing for bankruptcy. This includes consolidating your debt or having it discharged, keeping your ...
Debt Consolidation Debt consolidation is when you take out a single loan to pay off all of your smaller obligations. By consolidating your many debts under one loan, you can theoretically lower your interest rates and make your debt easier to manage with a single monthly payment. Either secured...
Would you like a comparison of the costs and benefits of bankruptcy versus credit counseling or debt settlement? Wirth Law Office’s bankruptcy attorneys offer low-cost consultations that can provide you with this information. Before you choose your course of action, talk to an experienced Oklahoma...
Supreme Court in Archer versus Warner converting a debt that allegedly arose from prepetition settlement agreement of fraud claim into a contractual liability. The court held that the debt remained nondischargeable under the Bankruptcy Code as a debt arising from fraud claim. Parties entering into ...
A simple definition of voluntary bankruptcy is simply when a debtor chooses to go to court over bankruptcy versus being forced to do so. A voluntary bankruptcy is intended to create an orderly and equitable settlement of the debtor's obligations. ...
Federal versus State Bankruptcy Laws In general, state laws govern financial obligations such as those involving debts created by contracts—rental leases, telephone service, and medical bills, for example. But once a debtor or creditor seeks bankruptcy relief, federal law applies, overriding state la...
If a company you've invested in declares bankruptcy, how much you're likely to get back will depend on the type of bankruptcy and the kind of investment, such as stocks versus bonds. Types of Corporate Bankruptcy The type of bankruptcy proceedings—Chapter 7 or Chapter 11—generally provides...
We take the load off of your shoulders as part of the debt settlement strategy we will draft just for you. The Ira Smith Trustee & Receiver Inc. team understands that people facing money problems require a lifeline. That is why we can establish a restructuring procedure for you and end ...
We will design a debt settlement strategy for you. We know that we can help you now. We understand that people and businesses facing financial issues need a realistic lifeline. There is no “one solution fits all” method with the Ira Smith Team. Not everyone has to file bankruptcy in ...
I spoke to you the other day about debt settlement, but since then I believe I am leaning towards filing chapter 7 bankruptcy. I do not know if there is another place on your website that covers the steps to follow towards filing ch 7. I am in Pennsylvania & I understand from you th...