Also known as a liquidation bankruptcy, under Chapter 7, a court trustee determines whether you have assets worth selling off to your creditors. (What counts as an asset varies by state, but most Chapter 7 cases end up being “no asset,” meaning nothing is liquidated.) To qualify for Cha...
Termed “liquidation bankruptcy,” a Chapter 7 bankruptcy does not include reorganization of debt. Rather, some types of unsecured debts are wiped out in Chapter 7, others are unchanged, and a third category could go either way on a case-by-case basis. Considering filing for bankruptcy? It's...
Steven R. McDonald is an experienced Chapter 7 & 13 bankruptcy attorney helping Wisconsin residents get out of debt. Schedule your free consultation today!
Chapter 7 Bankruptcy: Also known as liquidation bankruptcy, Chapter 7 bankruptcy involves the liquidation of non-exempt assets to repay creditors. It is designed for individuals with limited income or resources who are unable to repay their debts. In Chapter 7 bankruptcy, a court-appointed trustee...
Filing for bankruptcy is a big decision and one that will certainly impact the rest of your life. Deciding whether to apply is one of the hardest things
Chapter 7 and Chapter 13 Bankruptcy Bankruptcy attorneys who focus on Chapter 7 and Chapter 13 cases have extensive knowledge of the eligibility requirements, filing procedures, and debt discharge processes. They can guide you through the complexities of these chapters, ensuring you understand the bene...
Not surprisingly, you can watch it online —hereis the first chapter. (13)TODAY’S BIRTHDAYS. [Compiled by Cat Eldridge.] Born February 2, 1933—Tony Jay. Oh, I most remember him as Paracelcus in the superbBeauty and the Beastseries even it turns out he was only in for a handful ...
At-fault companies began establishing asbestos trust funds in 1988 as part of the requirements to emerge from Chapter 11 bankruptcy. The trusts were created to compensate eligible victims of asbestos exposure.Over 60 asbestos trusts remain active today with over $30 billion in total funds....
publishing rights in perpetuity. Those terms should be spelled out in the contract. Lack of a rights reversion clause is another one I look for. A reversion clause will spell out how and when your rights revert back to you in the event the publisher files bankruptcy or goes out of ...
When you file for bankruptcy, you are seeking to eliminate or reduce the debts you owe to your creditors. Depending on whether you file for Chapter 7 or Chapter 13 bankruptcy, you may come out of the process with no debt or significantly reduced debt. Bankruptcy does not come without cost,...