Chapter 7 bankruptcy is a legal process where a debtor's non-exempt assets are liquidated to pay off creditors. This type of bankruptcy allows individuals or businesses to discharge most of their debts, providing a fresh start. However, it may require the forfeiture of certain assets to satisfy...
One of the most complicated aspects of bankruptcy, which has the tendency to confuse those not well informed on the matter, is the bankruptcy discharge.Essential to the process, a discharge is what allows the individual or family from Ohio or Kentucky to have a "fresh start" because of the...
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The debt under that section may not be dischargeable because it is: (1) $500 owing to a single creditor for the purchase of “luxury” goods within 90 days prior to filing of the bankruptcy; (2) $750 owing to a single creditor for a cash advance (i.e. balance transfers are cash ...
Conventional wisdom dictates that it is all-but-impossible to discharge student loans in bankruptcy. This contention, however, misstates the fact that bankruptcTaylor, Aaron NSheffner, Daniel J...
choose to file jointly, all combined property and debts become a part of the bankruptcy. While it makes sense in some situations to file jointly, in others a debtor might be better off filing alone. A joint Chapter 7 bankruptcy filing will wipe out all dischargeable debts owed by both ...
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Filing for bankruptcy is one option that an individual or business has when it can no longer repay its financial obligations. It starts off with a petition and ends up with a discharge. There are several different types of bankruptcies, including Chapter 11 and Chapter 13. While Chapter 11 fi...
11 bankruptcy may not be the right choice for every company, but it can certainly save some of them from complete financial ruin. Keep reading to discover a guide to chapter 11 bankruptcy, including pertinent information on who can file, as well as details about disclosure and discharge. ...
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