Find Legal Information

All About Chapter 11 vs. Chapter 13 BankruptcyMost individuals have two bankruptcy options available to them, Chapter 7 Bankruptcy and Chapter 13. Chapter 11 bankruptcy is usually thought of as primarily for businesses, which it is. However, certain individuals with high property ownership or high income may be eligible to file for Chapter 11 bankruptcy as well. But these are t..

What is Chapter 12 Bankruptcy?Chapter 12 Bankruptcy plans are designed for “family farmers” who receive a regular annual income. The initiative enables financially distressed family farmers (and fishermen) the ability to propose and carry out a strategy to satisfy all or part of their outstanding debts. Under a Chapter 12 filing, a debtor will propose a repayment plan, whic..

..

What is a Chapter 15 Bankruptcy?Formally enacted through the passing of the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, Chapter 15 Bankruptcy is the United States domestic adoption of the Model Law regarding Cross-Border Insolvency. In 1997, the act was promulgated by the United Nations Commission on International Trade Law to replace section 304 of Bankrup..

Chapter 7 Bankruptcy Information:A Chapter 7 bankruptcy filing is a liquidation plan; a debtor who files for a Chapter 7 will sell his or her nonexempt property and distribute the proceeds to underlying creditors. Therefore, a Chapter 7 Bankruptcy case does not entail the filing of the repayment plans common in a Chapter 13 filing. Instead, a bankruptcy trustee will gather and ..

Understanding Chapter 11 vs Chapter 7 BankruptcyBankruptcy is a traumatic experience. Some file it after a series of bad investments or business decisions. For others, it comes as a consequence to actions they are in no way to blame for, like losing a job or getting defrauded by an investor. To these individuals, bankruptcy acts to shine a ray of hope, offering them an opportun..

When an individual is forced to consider bankruptcy as a way to relieve debt, it is common to fear the long-term consequences of this alternative. When reviewing the information related to bankruptcy, he/she may begin to believe that filing for bankruptcy is an easy and effective way to address his/her ever-increasing financial debt.While filing for bankruptcy is necessary for ..

Financial planning cannot get off the ground, so to speak, without identifying what one's goals are to be achieved over years and decades. However, if these ideas are not molded into an actionable strategy, the planning process will be yet again doomed.The simply-titled but critically important financial plan is one's reference guide to planning for retirement, education, emerg..

It is very expensive to ensure that a city remains operational and functioning effectively. Millions of dollars may be spent constructing buildings, repairing streets, and maintaining sewage systems. It is essential for schools and hospitals to remain safe, secure, and sterile.A city will be required to establish funds to pay employees that work for the city. In many cases, a c..

A stock derivative is one type of investment that is often overlooked by potential investors. Many individuals purchase shares of stock and leave their money in the stock market in hopes that they will earn a profit. They complete little research related to the companies in which they are investing and are unaware of the proper methods of investing in stocks. These individuals ..

When an individual shops around for a new motor vehicle, he/she will constantly hear the term "APR." Car commercials proudly display APR costs and make it a point to emphasize a low APR. Despite the prevalence of the term, many individuals are still uncertain of its meaning.APR, or annual percentage rate, refers to the amount of interest that a debtor will be required to pay on..

What is Bankruptcy?1. Bankruptcy is a Federal program that enables an individual or business entity facing insurmountable debts to restructure their debt obligations through liquidation or restructuring.2. As a result of these characteristics, bankruptcy claims enable those in debt to seek alleviation through an alternative payment plan or the assets obtained from liquidation.3..

With power comes privilege, and in the case of corporations in bankruptcy cases, the power of attorney means these organizations will definitely be bringing a high-priced Chapter 11 attorney along for the ride. Hiring a Chapter 11 lawyer will likely be standard procedure for any company looking to reorganize and can be involved in any standard legal procedure surrounding decisi..

In an effort to capitalize on the rash of bankruptcies in modern times given the uncertain economic direction of our nation, a plethora of sources have sprung up in recent years beckoning consumers to make use of their personal bankruptcy information services.Many of these unofficial sources that profess to offer professional-caliber advice are websites that yield this informat..

As opposed to other subsets of the law, such as the juvenile justice system which sees sizable variations from jurisdiction to jurisdiction based on the fact juvenile detention works as locally as the county level, the United States Government must have a stronger hand in regulating other matters like bankruptcy. This is especially so given that the subject is so closely tied t..