The United States Bankruptcy Code contains 6 types of bankruptcy. Discover which are the most common and more.
Chapter 13, known as “reorganization bankruptcy,” lets you create a repayment plan to repay debts over three to five years. Unlike Chapter 7, this type of bankruptcy allows you to keep your assets while making monthly payments to creditors via a trustee. Once the repayment plan is completed...
You now know that bankruptcy is divided into different Chapters. If you wish to file as an individual (personal bankruptcy) you can do so under chapter 7 or chapter 13. When you are troubled with debt, understanding the process of filing for bankruptcy, may not be what you need to focus ...
There are many different types of bankruptcy available to both individuals and businesses, which are all governed by federal law and can be found in theU.S. Bankruptcy Code. Chapter 7 Bankruptcy in Nevada When an individual files for Chapter 7 bankruptcy a trustee is appointed and given the a...
A Chapter 7 Bankruptcy, also known as the Liquidation or Straight Bankruptcy, is the most common type of bankruptcy filed. In 2009, over 1.4 million bankruptcies were filed in the United states alone, and almost a million of them were Chapter 7 Bankruptcies. So, if you need to file, you...
Chapter 7 bankruptcy is often called "liquidation" bankruptcy as it discharges most unsecured debt including personal loans and credit cards. When filing Chapter 7 bankruptcy, you can keep most of your assets and the process takes about 3-4 months....
1. Chapter 7 Also called ‘Liquidation’ or ‘Straight Bankruptcy,’ Chapter 7 bankruptcy is the more common of the two individual bankruptcies. The local court appoints a trustee to oversee the liquidation of assets so the party’s creditors are paid off. Other remaining debts such as credit...
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.
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.
bankruptciesfor personal accounts are either going to be Chapter 13 or Chapter 7. A reaffirmation agreement is one part of Chapter 7 that can make an impact on this choice, as can many other factors. When you’re seekingChapter 7 bankruptcy information,Dallas bankruptcy attorneys should be you...