How to File for Your Own Personal Bankruptcy: Everything You Need to Know Explained Easily Without an Attorney (with Companion CD-ROM)companion cd
Chapter 7 bankruptcy, often called “liquidation bankruptcy,” involves selling non-exempt assets to pay off creditors. You may be allowed to keep some essential property, like a car if the value isn’t deemed excessive and personal belongings such as clothing, household goods or tools you need...
Bankruptcyis a legal proceeding that assists a debtor who is overwhelmed by their debts. But the devil is in the details, as is often the case with legal proceedings. That's why it is important for any North Carolina resident considering a bankruptcy filing to read up on bankruptcy basics ...
Bankruptcy may be a viable solution if your have more debt than you can handle. However, if you are involved in a business, the impact of your decision to file for bankruptcy could extend beyond your personal affairs. When a small business owner, entrepreneur or corporate shareholder files for...
Bankruptcy helps people and businesses get a fresh start financially. Learn what filing for bankruptcy entails, as well as its benefits and disadvantages.
We will provide you with valuable insights and practical tips to help you navigate through this complex and often intimidating process. It is crucial to note that while this guide provides general information on filing bankruptcy, it should not be considered as legal advice. Every individual’s ...
Type of bankruptcyWhat it means for you Chapter 7 Often referred to as liquidation, this type of bankruptcy means selling off your non-exempt assets to repay your debt. A trustee oversees this sale. Any remaining unsecured debt (debt not backed by collateral) gets discharged, meaning you’re...
Social Security insolvency would mean the fund could not fully pay scheduled benefits, while bankruptcy would mean a complete inability to meet obligations. In its 2024 annual report, the Social Security Board of Trustees said the Old-Age and Survivors Insurance Trust Fund, or OA...
If a debtor cannot fulfill their obligations they may have to declare bankruptcy. Key Takeaways Debtors are individuals or businesses that owe money to financial institutions or individuals. Debtors are often referred to as borrowers if they owe money to a bank or financial institution but they're...
Chapter 11 Bankruptcy Businesses often file for Chapter 11 bankruptcy, with the goal of reorganizing and remaining in business. Filing Chapter 11 bankruptcy gives a company the opportunity to create plans for profitability, cut costs, and find new ways to increase revenue. Its preferred stockholders...