If you're planning to file for bankruptcy, it's important to understand the minimum debt requirements beforehand.
Bankruptcy’s automatic stay provides crucial financial relief by stopping most creditor actions. As soon as you file, this legal protection kicks in, and collection efforts must stop right away. While this gives you a general idea, it’s no substitute for personalized legal advice. For customize...
an LLC limits personal liability. An LLC is a separate legal entity that can sue and be sued as well as buy and own property. Like a partnership, an LLC may be less complicated to manage. But unlike a partnership, the death, retirement, expulsion, or bankruptcy of one member does not ...
Bankruptcy helps people and businesses get a fresh start financially. Learn what filing for bankruptcy entails, as well as its benefits and disadvantages.
If You File for Bankruptcy, What Can You Keep? The purpose of bankruptcy isn't to strip you of all of your belongings—it's to give you a fresh start. Most people can keep the basic items needed to work and live. However, if you're considering filing for bankruptcy, you might be ...
Chapter 7 bankruptcy is usually filed by an individual who has more debts than they can stay on top of. An individual or a business overwhelmed by debt can file for Chapter 7 bankruptcy. Some property is termed "exempt" and will not be sold in bankruptcy, but most will, with the proceed...
Bankruptcy Courts are no different. To file a Bankruptcy case, you will pay a filing fee of $350 for a Chapter 7 case and $310 for a Chapter 13 case.Click herefor other fees charged in the Northern District of Georgia. The reality is that many people filing for Bankruptcy, especially ...
Bankruptcy is often referred to as a last resort forgetting out of debt, and it can have severe consequences, remaining on your credit report for up to 10 years.7Even so, it is the route many Americans ultimately choose. Most individuals who file for bankruptcy use either Chapter 7 or Chap...
It is possible to file for bankruptcy and keep your home from being foreclosed on by the bank. You may be able to keep your home if you file for bankruptcy, depending on the type of bankruptcy and if you haveequity in your home. Of course, if your home goes into foreclosure and you ...
Chapter 13 is a type of bankruptcy proceeding in which debtors agree to areorganizationof their financial obligations under the supervision of a court. Individuals and married couples, even if self-employed or operating an unincorporated business, are eligible to file for Chapter 13 bankruptcy.1Here...