Personal Bankruptcy Case

When you file bankruptcy, whether it be a Chapter 7 or Chapter 13 filing, the bankruptcy trustee plays a big role in the process. Once you and your bankruptcy attorney have filed a successful bankruptcy petition, the bankruptcy court assigns a bankruptcy trustee who will be charged with executing your estate. In a chapter 7 bankruptcy the trustee will sell your non-exempt property and use the proceeds to pay back your creditors. In a Chapter 13 bankruptcy case, you make one monthly payment to the trustee who then devise it up to your creditors according to the payment plan that the court approves. Anyone filing bankruptcy must be completely honest and forthcoming about their accounts, assets, money, and property. You cannot hide or get rid of money or property before or during a bankruptcy without getting it approved by the trustee and courts. A bankruptcy attorney will be able to explain this to you in greater detail and offer you advise on property that you do want to get rid of.

What is your employer goes bankrupt? You may have a claim for unpaid salary, wages, or commissions. Priority exists for those unpaid wage that are owed to the employee up to $4,000 earned within 90 days before the company files for bankruptcy. Such wages include salary, commissions, bonus, vacation and sick pay, and severance pay.

You may have considered filing for bankruptcy to erase your personal debt completely, but then realized that after filing for either chapter 7 or chapter 13 bankruptcy, you will still be stuck with your student loans. However, filing for bankruptcy can erase your student loan debt if you also file for the undue hardship extension. While not everyone qualifies for this extension, many people do, so it is worth looking into. If you attended a for-profit trade school, you are more likely to be eligible to have your loans dismissed when filing for this extension.

Most people file for bankruptcy because they’re indebted to a person or corporation, like a bank for example. When you file for Chapter 7 bankruptcy, an impartial trustee is appointed to your case and handles the liquidation of

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

Dear Carl, I would like to start by reassuring you, that the Bible does not forbid borrowing or filling bankruptcy to a degree. However the way in which you borrowed, was not advised in the Bible as seen in (Prov. 22:7 NIV) “The rich rule over the poor, and the borrower is slave to the lender.” However the borrowing of money is permissible when used for the right reasons, (Grudem, 2003, para. 23) “In borrowing and lending, we can reflect many of God’s attributes. We can demonstrate trustworthiness and faithful stewardship, honesty, wisdom, and thanksgiving.” As you can see Carl the Bible doe not forbid you from borrowing, it is encouraged when done for the right reasons. Now to the issue of bankruptcy, what bankruptcy means is you are basically

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.

If at all possible, avoid filing bankruptcy. The fact that you filed for bankruptcy is noted in your credit report and will stay there for 10 years. It can be tempting to just go ahead and file bankruptcy to get out from under the debt, but the detrimental effects can be long lasting. Though it may provide some immediate relief, be aware of how it will impact your access to credit in future years.

If you are planning to file a personal bankruptcy case, you should understand that the law requires you to treat all of your creditors similarly according to the type of debt they hold. The law prohibits you from “preferring” one creditor over the others.

In addition to your other debts, you may have fallen behind on your mortgage payments. If this is the case, then your lender may have started foreclosing on your home. According to the U.S. Courts, filing for Chapter 13 bankruptcy will stop foreclosure proceedings. After you have declared Chapter 13 bankruptcy, an automatic stay will be triggered,

When filing for Chapter 7 bankruptcy, your income is taken into consideration. You must qualify under the income portion of the Chapter 7 bankruptcy. You have to consider your assets. If you have too many, you may not qualify. An inheritance would definitely be counted as an asset. It will require careful

Once that's done, you may be a good candidate for corporate bankruptcy if your business is not doing well and you want to restructure. Since a Chapter 11 filing is completely separate from personal bankruptcy, your personal assets will not usually be impacted by this decision.

Meeting with a personal bankruptcy lawyer can be a frightening experience, but it is an imperative step to gain back control of your finances. In most cases, filing bankruptcy will be necessary after losing your income due to the economy or an expensive medical condition, but it does not have to be the end of the world. If you have recently filed bankruptcy, changing your lifestyle is key to improving your financial future. Here are a few essential lifestyle changes to make after filing bankruptcy.

Chapter 7 bankruptcy requires individuals to sell off all of their assets and use the funds to pay back any debts and creditors. As a result, one of the many assets that people who file for chapter 7 bankruptcy immediately sell is their home. Homes that are sold by a chapter 7 bankruptcy owner tend to be priced a lot lower. This is due to the fact that the owner is looking to offload their possessions and pay off their debts as soon as possible. While these kinds of homes can be a good deal it is still important to use caution when going through with the purchase. There a few things you should consider before purchasing a home from a chapter 7 bankruptcy trustee.

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