In Chapter 7 bankruptcy, a court-appointed trustee will sell the non-exempt assets, and the funds generated will be distributed to creditors to satisfy a portion of the outstanding debt. The remaining eligible debts are then discharged, providing the filer a fresh start. One key advantage of ...
Lost Your Social Security Card? You Might Now Be Able To Get A Replacement Card Online! ByScott RiddlePosted inBankruptcy Basics,Chapter 13,Chapter 7 In most (if not all) Bankruptcy Courts, if you file a personal Bankruptcy case you will need yourofficialsocial security card for yourfirst me...
In a Chapter 7 bankruptcy, your non-exempt assets will be liquidated to repay a portion of what you owe to your creditors. However, in many cases, most of the assets that are owned by a debtor are exempt. This means that you may not lose assets in a Chapter 7 bankruptcy. Chapter 7...
(16)TAKING THE HYDE OFF ‘EM.“Jekyll & Hyde files for bankruptcy with $1.5M owed in rent”whileCrain’s New York Businessis watching the courthouse. Actors put on shows during dinner and each floor of the restaurant focuses on a different aspect of a fictional,1930s British explorers club...
Diamond Comic Distributors, a linchpin in the distribution of comics to comics shops since it was founded in 1982, has made a Chapter 11 bankruptcy filing in the U. S. Bankruptcy Court for the District of Maryland. According to the filing, Diamond has received $41 million in debtor-in-poss...
Choosing Chapter 7 or 13 Many people with low incomes qualify for a Chapter 7 bankruptcy, because they cannot make installment payments that Chapter 13 requires. Because of this, low-income filers usually do not have to deal with the increased costs of a Chapter 13 bankruptcy. However, if yo...
Asbestos trusts are formed under the supervision of the federal bankruptcy courts as part of the process for at-fault companies to emerge from Chapter 11 bankruptcy. Once a company enters Chapter 11, all outstanding debts and collection efforts are put on hold. ...
filed bankruptcy petitions under Chapter 11 of the Bankruptcy Code. On November 29, 1996, the Eagle-Picher Industries, Inc. Personal Injury Settlement Trust (EPI) was established. The EPI Trust is organized to process, liquidate and pay all valid asbestos personal injury claims in accordance with...
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For a Chapter 7 bankruptcy, the discharge is usually issued anywhere from four to six months after the bankruptcy petition is filed. The discharge under Chapter 13 bankruptcy is issued after the payment plan is complete, usually three to five years after the bankruptcy filing. Once your debts h...