Michael Levine, "Why Bankruptcy Is the Best Option for GM," Wall Street Journal, 17 November 2008, http://online.wsj.com/article/SB12268863 1448632421.html.Levine, Michael.E. "Why Bankruptcy is the Best option for GM". The Wall Street Journal, November 17th 2008. Accessed at http://...
Bankruptcy is a legal tool to help you manage overwhelming debt. Common types include Chapter 7 and Chapter 13. Learn whether bankruptcy is right for you.
In general, bankruptcy may be the best option if you see no way to pay off your debts within five years, the amount of debt (excluding a mortgage) is more than 40% of your income, and if you’re paying as much as you can toward debts but not making real progress. One reason to ...
The article reports that the board of directors for struggling General Motors Corp. has not ruled out the possibility of declaring bankruptcy. Chief executive Rick Wagoner has previously stated that bankruptcy is not a viable option for the firm. Both the board and Wagoner agree, though, that se...
If things are severe and bankruptcy is the best option, check the requirements for the different types. To qualify for Chapter 13, you must have a total debt of less than $2,750,000. In the bankruptcy process, the court will examine your debts, establish priority payments, determine what ...
Chapter 13 bankruptcy:This may be the best option for someone who has a regular income and property they want to keep. Individuals have a repayment plan, approved by the bankruptcy court, that enables them to pay off their debts over three to five years. ...
Is Bankruptcy Your Only Option? Understand your financial options because the idea of bankruptcy can be overwhelming. Attorney Jennifer Leigh Shea can help you understand your financial options.
NEW YORK (AP) — The Boy Scouts of America deflected questions about a report suggesting it is considering seeking bankruptcy protection, though the head of the organization said it is exploring "all options" as it tries to stay afloat while facing sexua
Businesses can also file for Chapter 7 bankruptcy, but they are not subject to the means test. For a business, Chapter 7 involves liquidating assets to pay creditors and then closing down operations. This is often the best option for businesses with insurmountable debt and no viable path to ...
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