Tag Archives: Bankruptcy Lawyer

The New Bankruptcy Law

by on 17. Nov, 2009 in Bankruptcy

The New Bankruptcy Law, formally known as the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, came into effect last October 2005. We all know that bankruptcy filings were being used indiscriminately by unscrupulous individuals so that they will no longer need to pay off their debts. Well, the new bankruptcy law was created [...]

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Bankruptcy Chapter 13 Information

by on 11. Nov, 2009 in Chapter 13

Chapter 13 Bankruptcy is known as a reorganization bankruptcy. It is filed by individuals desiring to pay off their debts in a time frame of up to 5 years. If a debtor has non-exempt property that they wish to keep and a predictable income, this is an option. The income must be sufficient to have [...]

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Bankruptcy Chapter 7 Information

by on 11. Nov, 2009 in Chapter 7

Chapter 7 Bankruptcy, sometimes called a fresh start, is a liquidation proceeding for both individuals or businesses hopelessly mired in debt and possibly facing foreclosure. All non-exempt property of the debtor is turned over to the bankruptcy trustee. If there are substantial assets the trustee converts those to cash and distributes it to the debtor’s [...]

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