 Category :: Bankruptcy Articles |
Author :: Josh Riverside  |
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| Article Title :: Filing Bankruptcy |
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| People who have more debt than they can pay off may be in a dire situation, but they do have some options available. It is advisable to speak with a lawyer in these situations who can explain whether or not filing for bankruptcy is the best option.Debtors are required to prepare and file a voluntary petition along with various supporting documents. A good bankruptcy attorney should be able to assist in preparing this set of documents. The debtor will be required to give information regarding their earnings, expenses, possessions, and debt. These documents will then be filed with the clerk at the U.S. Bankruptcy Court.After the proper submission of all documentation, the cas (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Bankruptcy Online |
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| In today's world of technology, people can file for bankruptcy online. The court has a federal database called PACER that can be accessed online by paying a fee.Many attorneys file cases online. Also, with the increase in usage some courts actually permit attorneys to file cases on behalf of their clients through online electronic access only, but pro se debtors are typically not allowable to file via the PACER system.There are several attorneys and services online. Most attorneys are eager to find ways to help debtors via email, but clients have to remember that they still need to sign some documents at some point in time. Attorneys do not prefer to offer document preparati (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Chapter 11 Bankruptcy |
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| Chapter 11 is by and large used for business bankruptcies and restructuring. It not considered as a viable option for individual consumers given that it is far more complex and expensive to pursue.Chapter 11 permits businesses an opportunity to reorganize themselves, allowing them a chance to restructure their debt and get out from beneath specific troublesome deeds and agreements. Normally, a business is permitted to carry on functioning at the same time as it is in Chapter 11 under the watchful eye of the Bankruptcy Court and its appointees.The bankruptcy court assigns a U.S. trustee who will in turn appoint one or more committees to stand for the wellbeing of creditors an (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Chapter 13 Bankruptcy |
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| The process of filing for bankruptcy depends on who is filing it - an individual or a business. If it is a business, even a sole proprietorship, they cannot file for Chapter 13 bankruptcy and need to file under the Chapter 11 bankruptcy and get the much needed help to reorganize their debts.If they do file as a individual who own a business as a sole proprietor, they can file under Chapter 13 bankruptcy and embrace the business-related debts for which they are personally legally responsible.Debtors are required to have steady and regular earnings to be able to qualify for Chapter 13 bankruptcy. It is important to understand the difference between earning the same amount of m (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Chapter 7 Bankruptcy |
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| When someone has high debt and no other feasible financial mode of repayment, they may need a fresh start in form of a bankruptcy. People file for Chapter 7 bankruptcy more often than any other type of bankruptcy, and it accounts for almost 65% of all consumer bankruptcy filings.A Chapter 7 bankruptcy is often also preferred to a liquidation or a straight bankruptcy. The process of liquidation transfers one's possessions to funds. This course of action necessitates the appointment of a trustee. The court assigns a trustee who accumulates all non-exempt material goods, put them up for sale and the money he so collects is distributed among the appropriate creditors. On the other han (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Corporate Bankruptcy |
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| There are many questions raised when a company files for corporate bankruptcy. As an investor, people would like to what happens to the company, who would look into the interests of investors, and above all, if the old securities have any value left, or is the stock is turned into paste paper until the company is reorganized.Companies that go out of business or try to recover from crippling debt are governed by federal bankruptcy laws. A bankrupt company, the "debtor," can use either Chapter 11 or chapter 7 of the Bankruptcy Code.Under Chapter 11, the company is allowed to "reorganize" its business and attempt to develop into a profitable corporation. The company still fun (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Filing Personal Bankruptcy |
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| Bankruptcy is a lawful course of action which allows individuals who are unable to reimburse their debt a new beginning. A choice to file for bankruptcy is a decisive step. Debtors should consider all their financial alternatives before they file in for bankruptcy. It is not a small step and it has very strong and lasting consequences. One of the major drawbacks is that it remains in the debtor's credit file for ten years, creating a negative impact for the many years, even after the debt has been dealt with.It is wise to consider debt consultants. There are many non-profit credit counseling agencies out there and they can work out a debt repayment program depending upon the debt a (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Josh Riverside |
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| Article Title :: Low Cost Bankruptcy Filings |
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| By and large, one would notice that when someone files for Chapter 7 bankruptcy they would make a payment of about $450 in attorney fees, where people who file Chapter 13 have to pay more. These cases are in general more costly, the attorney’s fee begins at $750 for representation through completion of the plan.These amounts represent attorney fees only and people are still responsible for paying filing fees and other expenses. People should also be aware that any complications in the case will raise the attorney fees rather quickly.People could alternatively choose form preparation services instead of legal representation. A few debtors have a preference to do this and on (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Eddie Tobey |
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| Article Title :: Bankruptcy |
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| The legal provision of bankruptcy, though sometimes misused, is a progressive and often merciful process. By it, a hopelessly indebted individual can make an official declaration of financial inability and be free of obligation. This may be on a temporary or permanent basis, depending on the degree of insolvency.With new amendments in US laws, there is little or no social or corporate stigma attached to filing for bankruptcy. Filing for bankruptcy, though a matter of public record, no longer means that it becomes a matter of public knowledge. Effectively, this is an incentive for the bankrupt party to make another attempt at financial solvency. An individual can file for bankruptcy (read full article) |
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| Category :: Bankruptcy Articles |
Author :: Eddie Tobey |
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| Article Title :: Bankruptcy Attorneys |
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| U.S. bankruptcy attorneys were a pretty rushed lot in the final period before October 17 – that’s when the laws governing bankruptcy ceased being a catchall shelter. There was a quiet stampede of almost 1.25 million applicants who wanted to take advantage of the more amenable aspects that existed till then.The basic function of bankruptcy attorneys is to guide potential applicants as far as feasibility and procedure is concerned, and to act on their behalf in court. With the new amendments, a bankruptcy attorney must also inform a client why certain loopholes no longer exist. Finding the right lawyer is essential. As distasteful as the circumstances may be, effort put into loca (read full article) |
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