Chapter 7 bankruptcy is designed to give debtors a “fresh start” in their financial life. At theend of the process, all qualifying debts are discharged, which means you will never have to pay them. Filing a bankruptcy petition is complicated and time consuming and not all debts are discharg...
household income for those in Florida, they pass the means test with no further tests required and can file for Chapter 7 bankruptcy. The easiest way for a debtor to determine whether they pass the means test and qualify for Chapter 7 bankruptcy is to use anonline means test calculator. ...
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Chapter 7 or 11:When you file for bankruptcy under Chapter 7 or 11 of the Bankruptcy Code, a separate estate is created which is made up of property that belonged to you prior to the filing date. The bankruptcy estate is a separate entity from you as a taxpayer. Under Chapter 7, the...
In the recent notorious case of Long Term Capital Management, the firm did not develop a significantly negative semivariance until shortly before bankruptcy. Simple calculation of the plain vanilla SD/variance of monthly returns would have warned of trouble years before the ottoman hit the fan. ...
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