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Bankruptcy : Business & Finance

How Does Declaring Bankruptcy Work?

Types of BankruptcyBankruptcy is the offset of debt declared by a federal court in the US. The purpose of bankruptcy proceedings are to allow a debtor to regain control of their financial situation. There are several different types of bankruptcy ranging from corporate to individual...

Filing Bankruptcy - Facts You Need To Know

When it comes to filing bankruptcy, there are several facts that you need to understand. Bankruptcy is certainly not a good thing, and you should not file for the same willingly. It is a forced situation, but at the same time, it is also very important for you to understand that when all alternative

Good Reasons to File Bankruptcy

If you can't pay your bills, bankruptcy can sometimes be your best option.Andrew Bret Wallis/Brand X Pictures/Getty ImagesBeing in debt can quickly become a seemingly hopeless situation, especially if you suddenly find yourself unemployed or unable to work due to illness. There are a...

How to File Bankruptcy - Are You Making the Right Decision?

First of all if you are considering bankruptcy, then you need to look at all of your options before you do so.If your debt, other than your mortgage, do not total at least twice your annual income, then you probably do not need to know how to file bankruptcy.

How to File Bankruptcy - The Basic Steps

When people attempt to learn how to file bankruptcy, they often search online and offline for information on the basic steps from paperwork to discharge. Credit card companies and other creditors are not out to help the debtor during bankruptcy proceedings. They simply want to get their money back.

Documents That a Trustee Needs in Chapter 7

A court-appointed trustee is assigned to each Chapter 7 bankruptcy case. The Chapter 7 bankruptcy trustee needs to verify the debtor's financial status. The documents requested may vary slightly depending on each debtor's case. Trustees require submission of all documents within 10 to seven days bef

Is the Book Value of an Asset the Same as the Market Value?

In the world of finance there are two values given to an asset. They are the book, or accounting value and the market, or investment value. Accounting value is based on the value of an asset on the books, which is usually based on costs. Market value is based on supply and demand in the market. Inve

Anticipated Changes To The Federal Bankruptcy Laws Maybe Pending

House Democratic members from North Carolina and California, respectively, recently propose legislation that would repeal the mortgage exception in the federal bankruptcy code. This legislation would allow a judge to change the priority value of primary residence mortgages or alter interest rates on

Requirements to Declare Bankruptcy

Bankruptcy can help with unpaid debtssmashed piggybank-canadian image by William Berry from Fotolia.comBankruptcy is the inability of a company or individual to pay out all debts to creditors. In the majority of the situations, it must be declared by the debtor himself. However, in the...

Bankruptcy Laws In Ohio for Filing Personal Bankruptcy

Bankruptcy is a legal tool, which aims to help debtors to regain a fresh life; a life free from creditors and mountainous debts. Bankruptcy in Ohio has two main classifications that are the most frequently used by people: Chapter 7 and Chapter 13. For Bankruptcy Laws In Ohio, both chapters are prese

What Variables Affect Chapter 7 Bankruptcy?

A Chapter 7 bankruptcy is generally a straightforward process which leads to a discharge of most or all debts of honest debtors. However, thanks to the Bankruptcy Abuse Prevention and Customer Protection Act of 2005, or BAPCPA, not all debtors are eligible to file Chapter 7. In addition to the vario

Tips About Filing Chapter 7 Bankruptcy

None of us plans to file bankruptcy later in life but if enormous financial obligations are beginning to beat you, then bankruptcy may be an option to take into consideration. You need to know what to expect, what your possible choices are, and most importantly, recognize that bankruptcy is frequent

Bankruptcy Law Firm Settles Peacefully

Bankruptcy law firms exist to keep individuals and businesses above the water. There is no reason to continue to be stressed out year after year about debt your income can no longer match. There are bankruptcy options available for your situation, and a bankruptcy law firm with the expertise to get

Can I Modify My Plan on Chapter 13?

Chapter 13 debtors modify their plans for a number of reasons. A debtor's financial circumstances often change during the three- or five-year payment period of the case. The debtor's income may fluctuate, the debtor may need to change the payment plan due to an emergency occurrence or the debtor and

Get a Free Consultation From a Chapter 7 Bankruptcy Lawyer

It is understandable if you want to bury yourself in a pillow and wish your debt problems will go away magically. I mean who wouldn't? Aside from the fact that those mounting debts can cause you a lot of stress, you have no peace of mind with all those creditors pressuring you to pay. Worse, yo

Bankruptcy List

The list features six famous Hollywood celebrities who each had their own inspiring rise out of a bankruptcy crisis. Some features were chosen for the documented heartbreaking loss wrought about by a ballooning debt, such as the stories of Isaac Hayes, Toni Braxton, and Kim Basinger.

How To Pay Debts on Disability

Social Security Disability is a supplemental income plan extended to individuals who are unable to work and maintain an acceptable standard of living due to a terminal medical condition or one that is expected to last longer than one year. Disability benefits are typically minimal, and many individ