The economy has gone bad and many families have considered filing for bankruptcy. Now the question they all may have is how much does bankruptcy cost? To those in need of going this route I will tell you that every situation is different and there are different kinds or chapters of bankruptcy. Be prepared folks, [...]
A Chapter 7 bankruptcy petition is a liquidation (sale/disposition) of a debtor’s nonexempt property to generate cash for creditors in exchange for a discharge of all dischargeable debts. A debtor has a “no asset” estate if the scheduled or recoverable assets, less encumbrances (balance of loan(s), judgment lien(s), etc.) and exemptions, equals no funds for [...]
Once loan modification or note workout fails, and the homeowner wants to keep the family home, another alternative is to file a Chapter 13 bankruptcy petition to avoid foreclosure. Indeed, foreclosure is reportedly soaring; and the filing of a Chapter 13 bankruptcy petition results in automatic stay of: (1) any action against the debtor or [...]
There is a seemingly endless variety of ways in which an individual or small business might end up in dire financial straits. For an individual, job losses, unanticipated expenditures on necessary home or automobile repairs, and illness or serious injury sustained in an accident caused by another party’s negligence represent only a small portion of [...]
Many people dream of owning their own small business. Unfortunately, many small businesses do not make it, and their owners are forced to shut their doors or file for bankruptcy. In these cases, it is important for the owner to make the process as painless as possible by recovering funds as best they can. Sometimes [...]
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