Tag Archives: chapter 7

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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Basic Types of Bankruptcy

by on 16. Nov, 2009 in Bankruptcy

Bankruptcy is sometimes seen as the way out from the vicious cycle of debts. However, bankruptcy filings should never be taken lightly and it should only be used as a last resort. When you look at bankruptcy services, you can observe that most of them will give you alternatives to avoid Chapter 7 and Chapter [...]

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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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