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17th September 2009
“The purpose of an exemption is to protect a debtor and his family against absolute want by allowing them, out of his property, some reasonable means of support and education and the maintenance of the decencies and proprieties of life.”
Poznanovic ... Read >
Author: Dustin Bower10th September 2009
Bankruptcy is a legally declared inability of individuals or businesses to discharge their debts. A declared state of bankruptcy can be requested not only by creditors in an effort to get what they are owed but also by the insolvent individual or organiza... Read >
Author: wbdoyle02nd September 2009
Declaring bankruptcy is one of the toughest financial decisions many people faced with unmanageable debts are forced to make. While this step may give you a clean start in certain ways, your non-exempt assets become the property of the courts. This leaves... Read >
Author: Mercy25th August 2009
In today’s world there is no escaping consumerism. This is the way we survive because we cannot do without basic needs. The trick here though is to consume just what you need and save as much as you can. It is so easy to get into debt because we may bel... Read >
Author: Mercy25th August 2009
When you file for bankruptcy, you may be worried about losing your possessions. The one question many people ask themselves when they decide to file for bankruptcy is what will happen to their property. That is why it is absolutely necessary to be aware o... Read >
Author: Mercy18th August 2009
Filing for bankruptcy can be a scary task especially if you do not know how to go about it. When you decide to file for bankruptcy, you see this as a chance to redeem yourself form debt and get a fresh start. Most debtors will have looked into other optio... Read >
Author: Mercy08th August 2009
When you file for bankruptcy one of the things you should access is what you get to keep. Filing for bankruptcy allows you to keep some assets, so these things are exempt from being claimed. There are some exemptions under federal law, while others are un... Read >
Author: Mercy08th August 2009
It seems as if many people are seeking bankruptcy advice nowadays, and with the state of today's economy, that should not be a startling fact. But if your fiscal situation is in such a state that you are seeking bankruptcy information, have you also cons... Read >
Author: Jon Arnold07th August 2009
Personal bankruptcy is commenced by an individual filing Chapter 7, 11, 12 or 13. The most common is Chapter 7. The debtor is allowed to exempt certain property from liquidation by the trustee. The list of exempt property includes homesteads, household fu... Read >
Author: MarcTow03rd August 2009
Bankruptcy is a process designed by the federal government in an effort to help people, both businesses and consumers, to get rid of their debt. There are several different types of bankruptcy that can be filed. In some types, the assets owned by the pers... Read >
Author: Pablo Pucket03rd August 2009
Bankruptcy is a process designed by the federal government in an effort to help people, both businesses and consumers, to get rid of their debt. Several different types of bankruptcy can be filed. In some cases, debts are paid out of the person or company... Read >
Author: Galen Turner02nd August 2009
When you file for bankruptcy, you give yourself a chance to redeem yourself from financial problems. A chapter 7 bankruptcy is good way to start afresh financially and eliminates your debt problems faster. It is also known as liquidation or straight bankr... Read >
Author: Mercy18th June 2009
Basic Information about Bankruptcy
Deciding whether to file bankruptcy is a very serious decision. The majority of bankruptcies are precipitated by circumstances outside a person's control -- loss of a job, divorce, or significant illness. A recent stu... Read >
Author: Justin Baxter07th May 2009
Bankruptcy chapter 7 is also known as the liquidation chapter. It allows an appointed trustee to take the assets of the debtor, sell them and pay off the debts. The petition is either voluntary or involuntary. Voluntary means that it is out of the debtors... Read >
Author: Peter Gitundu22nd April 2009
Once you've made the decision to file for bankruptcy, it's up to you and your bankruptcy attorney to decide which form of bankruptcy protection is right for you. In an earlier article, the bankruptcy lawyers of the Law Office of George H. Weber, LLC discu... Read >
Author: Georgeweber26th March 2009
Filing for bankruptcy is often thought of as an extreme measure. But truth be told, sometimes it is the only way out. People are afraid of bankruptcy claims due to the many myths surrounding it, but you should know better: bear in mind that myths are just... Read >
Author: Amanda Hash20th March 2009
JC Law Group specializes in helping individuals and families in the Bay Area with filing for Bankruptcy and debt relief. Their areas of practice focus on Chapter 7 and Chapter 13 bankruptcy. If you are burdened by debt and want to explore filing bankruptc... Read >
Author: JCLawGroup01st December 2008
Despite the setbacks presented by the skyrocketing prices of diesel and other petroleum products, the trucking industry is still reaping profits. Even if gas rates have pushed past the ceiling, companies and other enterprises still need trucks and rigs to... Read >
Author: Tanner31st October 2008
The road leading up to bankruptcy is hard. It is a time of emotional turmoil and distress, so understandably making decisions during this time is difficult. If you are considering filing Chapter 7 bankruptcy, here are a few things that will help make your... Read >
Author: DebP20th October 2008
What is bankruptcy?
Bankruptcy is a lawfully declared inability or impairment of ability of an individual or organizations to pay their creditors.
How do creditors react?
Creditors may as a result, file a bankruptcy plead against a debtor in an e... Read >
Author: Poly Muthumbi15th October 2008
Chapter 7 of the Bankruptcy Code is used when a trustee, to pay off a holder’s claims, sells the debtor’s nonexempt assets. Some of the property may have liens against it or be within the bounds of a mortgage; if that is the case, the proceeds from th... Read >
Author: Joe Cline19th June 2008
For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 1... Read >
Author: D.C. Fawcett18th June 2008
Chapter 7 forms part of the United States Bankruptcy code. The United States Bankruptcy code is made up of 11 parts and is sometimes known as liquidation bankruptcy. The whole process of Chapter 7 bankruptcy takes four to six months and costs an average o... Read >
Author: Helen01st May 2008
State exemptions are promulgated by the constitution and statutes of each state to allow each resident citizen of that state to keep certain assets for themselves, notwithstanding that citizen may have a money judgment against him or her. Each state has i... Read >
Author: Steven Kay28th February 2008
In a Chapter 7 bankruptcy case, all non-exempt property can be sold to satisfy creditors. The question that arises is just what is non-exempt property? This question cannot be answered in generalities. Instead, the answer depends upon which jurisdictio... Read >
Author: David Siegel19th January 2008
The bankruptcy trustee is the designated representative of the bankruptcy estate who exercises statutory powers, principally for the benefit of the unsecured creditors, under the general supervision of the court and the direct supervision of the U.S. trus... Read >
Author: David Siegel07th August 2007
Many who file for bankruptcy use home equity in their settlement arrangement. Bankruptcy does not remove any liens on a home such as a mortgage. But if there is more home equity built up than is required to cover the loan, it is an asset that can be tappe... Read >
Author: Mike Hamel25th July 2007
Filing for bankruptcy in the United States is not as easy as it once was for the individual. People file for bankruptcy for many reasons, but the main reason is that a member of the family has become chronically ill, and the family has gone into great de... Read >
Author: Wayne Hemrick10th May 2006
Bankruptcy
Personal bankruptcy generally is considered the debt management option of last resort because the results are long-lasting and far reaching. People who follow the bankruptcy rules receive a discharge a court order that says they don't have... Read >
Author: Financial Genius25th April 2006
Whether or not we want it to or mean it to, often times our debt can become out of hand, to the point that we can no longer control it. It does not occur because we expect it, it occurs because we live in an age where credit is everything. In fact, many p... Read >
Author: Bob Benson
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