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Before you can file for Chapter 7 or Chapter 13 bankruptcy, you are required to attend credit counseling. Your credit counselor will go over your options. Your credit counselor will go over your ...
Declaring bankruptcy isn't your only option. Read on to explore a few other choices that may provide better outcomes for your financial situation. Before You File for Bankruptcy, Consider These 3 ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
A chapter 13 plan is a document filed with or shortly after a debtor's Chapter 13 bankruptcy petition. The plan details the treatment of debts, liens, and the secured status of assets and liabilities owned or owed by the debtor in regard to his bankruptcy petition. In order for a plan to take effect, it must meet a number of requirements.
The new law adds a number of new requirements for bankruptcy filers that attempt to make the filing process more difficult and costly. These additional requirements include: Additional filing requirements and fees. The new law increases the amount of paperwork involved in filing and raises the filing fees.
The most common type of bankruptcy, a chapter 7 filing involves liquidating — or selling — your assets to pay off your creditors and debts. Chapter 13 bankruptcy.
Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. [1]
Bankruptcy. The mere word can evoke shame, fear and dread -- and for good reason. When you file for bankruptcy, your credit score takes a major blow, possibly dropping as much as 240 points,...
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