Chapter 7 bankruptcy helps debtors regardless of how much they owe and their financial position. Here’s how it works.
Filing for Chapter 7 Bankruptcy: What You Need to KnowChristopher M. Kennedy
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A Chapter 7 liquidation proceeding may commence by a debtor filing a Voluntary Petition or by the debtor’s creditors filing an Involuntary Petition. In either case, the petition is filed with the bankruptcy court assigned to the area where the debtor lives or where his business and assets are...
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An S corporation, or S corp, is a modified form of corporation under Subchapter S of Chapter 1 of the US Internal Revenue Code, which is not subject to federal corporate tax. It is also a tax status for other business entities; for example, limited liability companies may elect to be ta...
As I crest the hill overlooking Pevely, Jackson Browne’s warped mantra sends a rush up my spine via the rear speakers: “Time running out, without a shadow of a doubt, time running out. …” There is something more than a little macabre about racing to a man’s execution. Life may ...
If you can’t wait any longer to file for bankruptcy and can’t pass the means test, you’ll be restricted to a Chapter 13 and will pay back your debts over three to five years. , taking the means test is one of the earliest and most important steps in filing for bankruptcy. ...
Chapter 7 bankruptcy allows liquidation of assets to pay creditors. Unsecured priority debt is paid first in a Chapter 7, after which comes secured debt and then nonpriority unsecured debt. Filing Chapter 7 typically involves completing forms and a review of assets by the trustee. ...
Redlining represents a shameful chapter in the long history of American racial discrimination. By denying federal housing loans to people in minority communities, the federal government effectively denied the benefits of homeownership to millions of American citizens. Although racial redlining is now ille...