Bankruptcy is not something anybody likes to go for. It is the choice that is forced on you when there is no other alternatives are left. However, you may get surprised to know that there is a wide range of bankruptcy alternative that you can choose to go for in order to avoid the unpleasant experiences of getting bankrupt. Again, despite the availability of the bankruptcy alternatives in large numbers, you should note that not all of them are the right choice for everybody. You will have to assess your specific financial situation thoroughly and other records in order to make sure which bankruptcy alternative can help you get out of your dilapidated financial crisis.
Claim In Bankruptcy
June 25, 2010 By
Claim in bankruptcy is the document that the creditors file to recoup the debts that is due to the debtor that has been declared as bankrupt. There are certain steps and a specific procedure that is followed to distribute the assets of the bankruptcy estate among the creditors in order to settle their claim.
Chapter 13 Rules
June 25, 2010 By
If you are filing court petition for bankruptcy under chapter 13 bankruptcy code, there are certain rules that you need to be aware of. Knowing these rules will make the bankruptcy proceedings much smoother and you will have cooperatively less hassles and worries during the proceedings in the bankruptcy court. As you know that bankruptcy laws are very complex and the frequent addition of the new bankruptcy laws, make it much more complex. Therefore, the only way to make things easier and smoother for you, you will have to get more and more information regarding the wide range of intricacies involved in the bankruptcy laws. Chapter 13 rules are just a part of the many things that every common man filing bankruptcy must know.
Chapter 13 Bankruptcy – The Basics
June 25, 2010 By
Chapter 13 bankruptcy is also known as “wage earner plan”. It is different from chapter 7 in a sense that it allows the debtor to continue with its existing venture. The bankruptcy court provides an opportunity to the debtor to reorganize their finances while paying off the reduced claims of the creditors simultaneously.
Chapter 7 Bankruptcy Forms
June 25, 2010 By
Chapter 7 bankruptcy forms are the most common type of bankruptcy forms. In fact, the concept of bankruptcy that the common man has is defined in chapter 7 and is also known as straight bankruptcy because as per this bankruptcy code, all your assets are liquidated by the trustee, to pay off the debts that you owe to various creditors. The purpose of adding this type of bankruptcy code is to help people with dilapidated financial crisis to have a fresh start in their financial life.
Bankruptcy Record
June 25, 2010 By
There are times when people have to get information regarding a specific person if he or she has ever filed bankruptcy or not. In such cases, the checking the bankruptcy record will be a great help.