Bartolone And Batista LLP: Bankruptcy Case

When reviewing the American Bankruptcy Institutes website I was researching the total number of bankruptcies in 2012, the total number of non-bankruptcies in 2012, and the total number of business bankruptcies in 2012. My findings concluded that the total number of bankruptcies in 2012 which consists of business and non-business fillings which includes the states and D.C. was 1,232,294 (ABI, 2013). The total number of non-business filings in the states and D.C. in 2012 was 1,232,294. The report shows that there were 811,789 non-business Chapter 7 filings and 352,553 non business Chapter 13 filings in 2012 (ABI, 2013).

Most people would like nothing more than to be freed from their financial debt. Personal bankruptcy can provide you with legal protection from your creditors and take care of much or all of your debt. There is the chance you will get to keep your home and car. In other words, personal bankruptcy can be the salvation to financial ruin. By wiping out your old debts, you will find yourself in a better position to pay your current bills.

Not everyone qualifies for Chapter 7 bankruptcy. Therefore, filing for this type of protection is only a good option for you if you meet the eligibility requirements. Among other qualifications, your income must be under the state median in order to file Chapter 7 bankruptcy, according to the United States Courts. If your income is over the median, you may still qualify if you are able

Filing bankruptcy is a stressful, emotional process that should not be taken lightly. Bankruptcy laws are complex and difficult to navigate. With the different types of bankruptcy available, how will you figure out which path is right for your case? If you are interested in declaring bankruptcy, you should hire a bankruptcy attorney in Dallas, Texas. A bankruptcy attorney in Dallas, Texas will help you understand bankruptcy laws and will work with you to protect as much of your property as possible.

Chapter 11 is referred to as the reorganization bankruptcy. A debtor that files Chapter 11 may obtain approval from the court to continue operation of their business (UScourts.gov). In this chapter, the value on a secured debt, such as equipment loans, mortgage loans, or car loans can be adjusted to the market value. The unsecured debt owed to creditors can also be reduced. This chapter requires payments to your creditors. The payment plan usually lasts for five years. However, the court may require that the payment plan be extended past the five-year mark for business owners and corporations.

When people talk about filing for bankruptcy, it is usually a Chapter 7 case. However, a Chapter 13 filing offers an individual in financial distress a variety of advantages. In a Chapter 13, the debtor submits a repayment plan that sets forth how all your creditors will be paid. As long as you are making your monthly plan payments, you can keep ALL of your assets (even non-exempt assets). Your plan will pay your creditors, fully or partially, over a period of three to five years, interest free!

A petition filed for Chapter 7 bankruptcy will require the debtor to liquidate most of their assets to pay off their creditors. There are three goals for the debtor when filing a Chapter 7 petition, those first one being to claim their assets as “exempt” from creditors, secondly to obtain a discharged of responsibility for the debt listed in the petition and the third being the automatic stay which halts the creditors from attempting to collect or garnish wages once the petition is filed.

the age of 59 in this case. This penalty alone is evidence that IRAs should be

No doubt if you are encountering financial difficulties and your debt is just rising by the month, you must have contemplated filing for bankruptcy protection. The most "popular" choice is to file for Chapter 7 bankruptcy. Chapter 7 bankruptcy is named such because it is chapter 7 under the bankruptcy law. Chapter 7 is synonymous with liquidation or straight bankruptcy. It is also named liquidation bankruptcy because your assets can be repossessed and sold off to fulfill the debt obligation to the creditors. Exactly what is involved in a Chapter 7 bankruptcy filing?

It is not difficult to file a bankruptcy if you hire the right Orange County bankruptcy attorney. Although the process can be confusing at first, the resolution of the case can commence speedily if you work with the right attorney. It is important to probe and find out the credibility, competence and commitment of an attorney before entering into a contract with him or her in Orange

This means that a bank may not let you take a loan out to buy things ever or for a little while. It will also affect your finances because in some cases you may have that on your record and it may be hard to move forward. Bankruptcy may also affect the possibility for certain jobs. One example is, a person that works for a stock company like ING may not be able to have that job. This is because people that work with savings don't want people that went

The law needs to be chosen that whether you want to file under chapter 13 or chapter 7 and in accordance of that the papers are to be submitted.

When filing for bankruptcy is unavoidable, hiring a bankruptcy attorney is also a must. This is especially true today since the New Bankruptcy Law has introduced major changes in the process. Having a bankruptcy attorney who will assist you in the preparation and filing of your documents, as well as advice you with the legalities about the bankruptcy process will ensure that you will not be committing any violations.

There are very few people who start out with the intention of filing personal bankruptcy. Circumstances often force people to change their best intentions. Most people want to pay their bills. The decision to file personal bankruptcy happens more often than you think. There are unavoidable situations and circumstances which usually snowball until financial insolvency results. For many individuals, this situation can be very difficult to handle.

Over the years, the process of declaring bankruptcy has become incredibly simple. Because of this change, the number of people declaring bankruptcy is at an all time high. Today, bankruptcy is a common thing among companies and individuals alike. The American bankruptcy law allows people to avoid paying their debts by offering the debtors a discharge without a harsh consequence. By not having repercussions for their actions, bankruptcy filers often plan future bankruptcies, allowing them to steal even more money from creditors with no punishment. There are 13 different chapters in the bankruptcy system with the principal chapters being 7,11, and 13. You can only file for bankruptcy under these three chapters, the others are there to