Understanding Chapter 7 Bankruptcy - ScienceDirectdoi:10.1016/B978-0-88415-752-6.50303-9Lynne MilgramAlan SpectorMatt TregerManaging Smart
Bankruptcy protection provides a legal and ethical way to help avoid foreclosure. In most cases, Chapter 13 provides an effective avenue toward protecting your house. While Chapter 7 may not prevent foreclosure, other alternatives may be possible, depending on the amount of equity in the property...
When it comes to picking a dependable degree, we believe that law should be your first choice. There are a lot of common misconceptions that a law degree is extremely difficult and it is only manageable if you are some sort of genius. This is not the case and here are 7 reasons why ...
In Chapter 7 bankruptcy, the goal is often to wipe out dischargeable debts like medical bills or credit card debt. A Chapter 7 bankruptcy discharges you from most unsecured debt if you fulfill all requirements. Chapter 13 bankruptcy takes a different approach. It allows individuals with regular ...
Unsecured Creditors in a Chapter 7 Proceeding and When to Elect a Trustee When an unsecured creditor holds more than 5% or 10% of the claims against the estate in a Chapter 7 bankruptcy case, and the estate is likely to hold significant assets, the creditor should seriously consider the elec...
A.7 Laws to Protect Consumers A.8 Tax Laws A.9 Bankruptcy Laws •Bankruptcy is the legal process by which a person, business, or governmententity, unable to meet financial obligations, is relieved of those debts by acourt. Courts divide any of the debtor's assets among creditors, allowin...
These negative accounts stay on your credit report for seven years, except for Chapter 7 bankruptcy which is reported for 10 years. If you spot an account that shouldn't be included in these sections, contact your creditor and the credit bureaus immediately, as these significantly lower your cr...
Chapter 11 bankruptcy is naturally a complex case. This is because they involve altering or restructuring lease agreements, contracts, and debts to ensure that a business can continue operating. Complex cram downs of liens have to be done, and this cram down sometimes exceeds the value of the ...
Bankruptcy is a bigger issue for a HECM for Purchase transaction. A Chapter 7 bankruptcy may require at least two years to have elapsed since the date of the bankruptcy discharge. If there were acceptable extenuating circumstances beyond the homeowner’s control, then less than two years, but ...
Toys "R'" Us announced that it had voluntarily filed for Chapter 11 bankruptcy in September 2017. The company's chair and CEO said in a statement released with the announcement that the company was working with debtholders and other creditors to restructure the $5 billion of long-term debt...