What Are the Types of Bankruptcy Filings? Bankruptcy filings in the United States are categorized by which chapter of the Bankruptcy Code applies. For example,Chapter 7involves the liquidation of assets,Chapter 11deals with company or individual reorganizations, andChapter 13arranges for debt repayment...
Bankruptcy is the legal process of eliminating your debts. The following is essential bankruptcy information about the four different types of filings: Chapter 7 Bankruptcy: This is the most common type of bankruptcy, filed by either individuals aka personal bankruptcy (called consumer) or businesses....
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 cards, medical ...
All bankruptcy cases must be filed in federal court, and the rules and procedures that must be followed are set out in the federal codes. State courts never hear bankruptcy cases, but state laws can impact some aspects of a bankruptcy filing, notably providing lists of exempt property. The f...
of third parties. A point to note is that most bankruptcy frauds fall in the criminal category, such as concealing of assets, concealing and falsifying information, identity issues and unauthorized filings, and bribery and embezzlement. Consequences of criminal bankruptcy fraud could include fines up...
If you are a Southern Ohio or Northern Kentucky resident considering seeking the protections offered by bankruptcy, an experienced Cincinnati bankruptcy lawyer can help you understand what different types of filings would mean for you and help you develop a plan. ...
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.
Public Record — All personal bankruptcy filings in the United States are matter of public record. Access to U.S. Appellate, District, and Bankruptcy court records and documents nationwide can be found on the Public Access to Court Electronic Records (PACER) website developed by the ...
Bankruptcy:While it should be considered as a last resort, filing for bankruptcy may provide temporary relief by halting foreclosure proceedings and allowing homeowners to reorganize their debts. Bankruptcy laws and eligibility criteria vary, so consulting a bankruptcy attorney is essential. ...