Proper bankruptcy information may be difficult to find, because every case is different and very
complex, but learning more on the subject can always be useful.
Here is some helpful information about bankruptcy:
1. What is bankruptcy and what are the types of bankruptcy one can file for?
It is a legal procedure through which an individual declares himself or his company unable to pay his
debts.
There are five types of bankruptcy, each known by the number of the Federal Bankruptcy Act chapter
they are filed under:
•Chapter 7 offers a “fresh start” after all exceeding assets are liquidated and remaining debt is erased;
•Chapter 9 is available only to municipalities;
•Chapter 11 provides reorganization for companies;
•Chapter 12 gives debt relief to family farmers through a repayment plan;
•Chapter 13 filers get to keep all their assets but must repay their debt in 3-5 years.
2. What steps must be taken when filing?
Contact an attorney and settle an appointment; provide all the documents the lawyer needs;
Sign the bankruptcy petition;
Attend the 341 meeting; complete the financial management course and give the certificate to your
attorney;
Receive your bankruptcy discharge.
3. How often can one file for bankruptcy?
It depends: Chapter 7 can be filed only 8 years after a former Chapter 7 bankruptcy and six years after
a Chapter 13, while a Chapter 13 bankruptcy can be filed at least four years after a prior Chapter 7 and two
after a Chapter 13.
And last, but not least, the most important bankruptcy information you need to keep in mind: never be
embarrassed to ask for help!
Posted by admin on January 23rd, 2012 :: Filed under
lawyer
Filing for
Green Bay Bankruptcy may not be the appropriate solution for every debtor. In order to make a sound decision on whether it is time, the debtor should carefully review his or her situation. Generally, bankruptcy is saved as a last resort type of move. The reason people save it for last is the consequences of filing for such. Bankruptcy is good because it wipes out the debtor’s financial obligations in some instances. However, that person’s credit is normally ruined for a period of seven to ten years after filing.
If the debtor’s total income is less than the bills that he or she has to pay, it is definitely time to file for bankruptcy. However, if there is a significant amount of income available to make payments, another method of debt resolution will probably be more effective. Debt consolidations, negotiations, and involuntary agreements are suitable alternatives to the choice of filing bankruptcy.
Posted by admin on November 22nd, 2011 :: Filed under
lawyer
People who have been through
bankruptcy will find it very difficult to get credit. This is especially true for those who have not been discharged yet. The best way to get credit after bankruptcy is for borrowers to rebuild their credit.
Unfortunately the only way a person can rebuild their credit is by taking out a loan. This can seem like a catch 22 when there is nobody willing to lend to a bankrupt person. However there are lenders that will give bankrupt borrowers a small amount of money. These lenders will charge very high interest rates. Borrowers will have no choice but to put up with this. Once a borrower has gotten a loan approved they will need to make regular, timely repayments on their loan. This will prove to lenders that the borrower is capable of repaying a loan. Those who have a good payment history for a year or two may be eligible for lending with lower interest rates.
Posted by admin on November 22nd, 2011 :: Filed under
lawyer
Asbestos exposure may lead to a type of cancer known as mesothelioma, and if you have been diagnosed with this disease, you can enlist the aid of a
lawyer mesothelioma for your case. The most common type of mesothelioma affects the lining of the lungs, and can lead to loss of wages or the ability to work, as well as high medical bills. By contacting an experienced mesothelioma lawyer, you can relieve your financial burden, as you will likely be awarded compensation for your pain and suffering.
Mesothelioma is almost certainly fatal, as there is currently no cure. Also, symptoms do not present themselves for some time after the initial exposure, making it more difficult to recover from this disease. There are treatments that can help to alleviate pain and make the patient more comfortable.
Today more than ever before, lawyers are focusing on mesothelioma cases because of the rising number of claims that people are filing. There are rather short statute of limitations in many states, so be sure to contact a lawyer mesothelioma immediately after being you have been diagnosed with mesothelioma. The lawyer can explain your legal rights, as well as talk to you about compensation.
Posted by admin on November 22nd, 2011 :: Filed under
lawyer
If you have been stopped for driving under the influence, you should hire a
DUI defense attorney. A good attorney can help you prepare your case and find ways to reduce the fees and fines. Keep in mind that this is a very serious charge and you can spend time in jail. Never go to a DUI court without a lawyer because it shows a lack of respect for the judge and the court system.
Start out by contacting the local bar association in your city. Most associations have a referral service that can help you find a DUI attorney. Obtain the addresses and phone numbers of at least three lawyers. Find out as much information as you can about each attorney. Make sure you hire the attorney with the best track record for handling DUI cases and do not get another DUI charge.
Finally, talk to the attorney and ask him how much the services are going to cost and get this information in writing. Provide the lawyer with all the documents that he needs from you to work on the case. Stay in touch with the attorney and make sure he is going to represent you in court and make sure you arrive on time for the scheduled court date.
Posted by admin on November 15th, 2011 :: Filed under
lawyer