There are several advantages and disadvantages to Chapter 7 bankruptcy and Chapter 13 bankruptcy. One advantage to a Chapter 7 filing is that the amount of debt you can erase is not limited; whereas w...
The technical answer is that you can file bankruptcy as often as you like, but you may not get the result you want, especially because of recent changes in the bankruptcy law....
Social security payments are excluded from the calculation of income for purposes of the means test. It's important though not to comingle social security income'so that the social security income is ...
When filing for bankruptcy in Virginia, federal exemptions are not available. In this article, you will find a list of state exemptions available to debtors in Virginia....
When an individual files for bankruptcy, he or she is immediately put under a legal protection referred to as an automatic stay. This automatic stay means that creditors cannot attempt to collect mone...
Bankruptcy fraud is a criminal offense taking the form of concealment of assets, multiple filings and petition mills. Click here for a detailed definition and description of what it means to commit ba...
Every bankruptcy attorney has their own process when it comes to interacting with potential or established clients, but there are similar items that most bankruptcy attorneys will cover in an initial ...
Chapter 11 is one of the chapters of the US Bankruptcy Code that provides protection to debtors. Chapter 11 bankruptcy is almost exclusively used by businesses due to the expense and complexity of fil...
There are four main types of bankruptcy filings - they are known as Chapter 7, Chapter 11, Chapter 12 and Chapter 13. They vary in process, purpose and availability. There are scenarios each is better...
Although states can opt out of most federal exemptions, some are mandatory. These exemptions are called non-bankruptcy exemptions, because they are found in areas of the United States Code other than ...
Surrendering property in bankruptcy involves secured loans, which are loans that are guaranteed by a piece of property, such as a house or car. In bankruptcy cases and many others, people typically su...
One significant advantage is the ability to modify the rights of a secured creditor. This means the debtor can actually change the terms of a contract with a creditor through bankruptcy in a provision...
The bankruptcy term conversion refers to the process by which a debtor, creditor, or bankruptcy trustee transfers a pending bankruptcy case from one chapter to another. Conversion may occur for a numb...
When a business goes bankrupt, there will be winners and losers amongst its creditors and stockholders. Those who hold debt, like bondholders, will stop receiving interest and principal payments while...
A company going bankrupt is not just a source of anxiety for its leaders. Investors, creditors, and employees all share the same anxiety and stress. When a company can no longer pay its bills or even ...
Most companies prefer Chapter 11 when facing bankruptcy. It allows a business owner to create a plan for repayment and/or to reorganize and restructure debts, while continuing its normal business deal...
When a business is struggling with debts, that business may opt for a Chapter 11 bankruptcy. Essentially, this is a reorganization bankruptcy in which the business renegotiates and restructures many o...
For those with a filing listed on their credit report, it's important to take measures to have it removed as soon as it is possible - if and when there is a legitimate reason to do so. Follow this lin...
Many times bankruptcy is filed in order to stop a lawsuit. Once a person or business files for bankruptcy, there will be an “automatic stay” put on the debtor's debts. The automatic stay is a lega...
Balance transfers are generally seen as a new debt, and if you don't have the present intention to pay the new debt at the time it was incurred, it might be determined to be the result of fraud and yo...
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