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The disadvantage of filing for personal bankruptcy is that, under the Fair Credit Reporting Act, a record of this stays on the individual's credit report for up to 7 years (up to 10 years for Chapter 7); [5] still, it is possible to obtain new debt or credit (cards, auto, or consumer loans) after only 12–24 months, and a new FHA mortgage loan just 25 months after discharge, and Fannie Mae ...
Originally, bankruptcy in the United States, as nearly all matters directly concerning individual citizens, was a subject of state law. However, there were several short-lived federal bankruptcy laws before the Act of 1898: the Bankruptcy Act of 1800, [3] which was repealed in 1803; the Act of 1841, [4] which was repealed in 1843; and the Act of 1867, [5] which was amended in 1874 [6] and ...
The following articles published in the Virginia Law Review are among "The Most-Cited Law Review Articles of All Time": [3] Wilkinson, J. Harvie (2009). "Of Guns, Abortions, and the Unraveling Rule of Law". Virginia Law Review. 95 (2): 253– 323. JSTOR 25478705. Bebchuk, Lucian A. (2007). "The Myth of the Shareholder Franchise". Virginia Law ...
One of Minnesota's oldest bankruptcy law firms has filed for Chapter 11 bankruptcy protection after losing a five-year legal spat with another bankruptcy law firm over mutual claims of false ...
Accounting staffers within the Trustee's office review all debtor filings, and monitor trustee and attorney fees in all cases. Attorneys employed by the Trustee represent the office in United States bankruptcy court and pursue civil sanctions for some egregious violations of the law in Chapter 7, 12 and 13 cases.
The Virginia Law & Business Review was founded by John B. Esterhay of University of Virginia Law School Class of 2006 and the student-editors of the journal's inaugural managing board. [25] The journal was formed in 2005. [26] It was approved by the faculty of the University of Virginia School of Law in 2005.
Chapter 7 bankruptcy. Leslie Tayne, attorney and founder of Tayne Law Group in Melville, New York, says you’re eligible for a mortgage a few years after a Chapter 7 discharge of debt.
Once you move forward with Chapter 7 or Chapter 13 bankruptcy, four possible scenarios might play out. All of your student loans and other debts are discharged. Your loans are partially discharged.