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Topic: Bankruptcy


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  United States Bankruptcy Courts
Each of the 94 federal judicial districts handles bankruptcy matters, and in almost all districts, bankruptcy cases are filed in the bankruptcy court.
The vast majority of cases are filed under the three main chapters of the Bankruptcy Code, which are Chapter 7, Chapter 11, and Chapter 13.
Bankruptcy Basics provides basic information to debtors, creditors, court personnel, the media, and the general public on different aspects of the federal bankruptcy laws.
www.uscourts.gov /bankruptcycourts.html   (302 words)

  
  Bankruptcy - Wikipedia, the free encyclopedia
Bankruptcy fraud is a business crime of filing for bankruptcy with criminal intent, that is with the intention of evading payment for goods even though the buyer has funds that could be used to pay for them, or accepting payment for goods or services but not supplying them.
The office of the Superintendent of Bankruptcy, a federal agency, is responsible for ensuring that bankruptcies are administered in a fair and orderly manner.
Bankruptcy in the United States is a matter placed under Federal jurisdiction by the United States Constitution (in Article 1, Section 8), which allows Congress to enact "uniform laws on the subject of Bankruptcy throughout the United States." Its implementation, however, is found in statute law.
en.wikipedia.org /wiki/Bankruptcy   (2999 words)

  
 Bankruptcy - Wex
Bankruptcy law provides for the development of a plan that allows a debtor, who is unable to pay his creditors, to resolve his debts through the division of his assets among his creditors.
An additional purpose of bankruptcy law is to allow certain debtors to free themselves (to be discharged) of the financial obligations they have accumulated, after their assets are distributed, even if their debts have not been paid in full.
Bankruptcy proceedings under Chapters 11, 12, and 13 involve the rehabilitation of the debtor to allow him or her to use future earnings to pay off creditors.
www.law.cornell.edu /topics/bankruptcy.html   (654 words)

  
 CATHOLIC ENCYCLOPEDIA: Civil Aspect of Bankruptcy
Bankruptcy (La banqueroute; earlier English terms, bankruptship, bankrupture) in civil jurisprudence as well as in popular signification is the fact of becoming, or the state of being, a bankrupt.
On the contrary, the motive of bankruptcy laws was, as already seen, the relief of creditors by affording a remedy against dishonest debtors who might possibly not be insolvent, but whose conduct while indebted was deemed to be such as to entitle their creditors to the summary relief which the law "made against bankrupts" afforded.
Voluntary bankruptcy is not mentioned in the Act of 1800, but by the Act of 1841 "all persons" residing in any State, District, or Territory of the United States owing debts not incurred through defalcation as a public officer or in a fiduciary capacity might apply to become voluntary bankrupts.
www.newadvent.org /cathen/02252b.htm   (2061 words)

  
 Bankruptcy Resources & Chapter 7 & 13 Lawyers at Total Bankruptcy
Bankruptcy attorneys are available in Texas, North Carolina, New York, Wisconsin, Georgia, Illinois, Michigan, Ohio, Pennsylvania, Maine, and Florida to help you find the information you need to make good decisions about bankruptcy and claiming a fresh financial start.
And if you decide that bankruptcy is the right option for you, a local bankruptcy attorney can help you navigate the process and make sure that all of the technical requirements are met.
We understand that your choice to file for bankruptcy is a tough decision, and also that all of the forms and procedures you have to go through may be intimidating.
www.totalbankruptcy.com   (1372 words)

  
 Bankruptcy
As in commercial bankruptcy, there are two options: liquidating assets to pay off creditors, and filing a wage-earner plan that allows the debtor to retain more assets while working to pay off his or her debts.
Once a bankruptcy petition is filed, the debtor is immediately entitled to relief from creditors through the bankruptcy procedure known as the "automatic stay." The automatic stay freezes all debt-collection activity and forces creditors to allow the bankruptcy court to determine how payment will be made.
If the court dismisses an involuntary bankruptcy filing because it has no merit, the creditors may be ordered to pay the debtor's attorneys' fees, damages for any losses the debtor experienced because of the bankruptcy, and even punitive damages to punish the creditors for the frivolous or abusive filing of a petition.
www.usadebt.com /CM/FSDP/PracticePage/Bankruptcy/Bankruptcy.asp   (1260 words)

  
 BANKRUPTCY
Bankruptcy is designed for people caught in severe financial circumstances beyond their control such as illness or loss of a job.
Bankruptcy is a constitutional right, governed by state and federal law, to ask a court to declare a person unable to pay his or her debts.
After the bankruptcy filing, the court issues an automatic stay, which is a court order that temporarily prevents all creditors from obtaining funds from the debtor before the plan is approved by the court.
www.in.gov /dfi/education/MiniLessons/bankruptcy.htm   (1755 words)

  
 Bankruptcy
Bankruptcy is a legal proceeding in which people who cannot pay their bills can get a fresh financial start.
In most cases, filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.
Bankruptcy does not mean that the government makes the payments on your debt; the creditor may be able to take and sell the home or the collateral property, during or after the bankruptcy case.
www.nwls.org /Bankruptcy.htm   (2733 words)

  
 Bankruptcy
Bankruptcy is a legal proceeding in federal bankruptcy court by which a person who has more debts than he or she can pay seeks relief from those debts.
It is also possible for the bankruptcy court to set aside any transfer of property made to conceal ownership or to avoid having it included in the bankruptcy (such as gifts) or made to defraud creditors.
If bankruptcy is appropriate, you will need a qualified attorney to handle the filing, explain all procedures, evaluate your exemptions and nondischargeable debts, and attend to all the other matters involved in a bankruptcy proceeding.
www.utahbar.org /bars/slcbar/html/bankruptcy.html   (1486 words)

  
 Bankruptcy
Bankruptcy can give you a fresh financial start on life and can seem very attractive to people who cannot afford to pay their bills as they become due.
Bankruptcy will give you a fresh financial start and will work best if you will have an income after the bankruptcy that is adequate to support you and your family.
Unlike a Chapter 7 bankruptcy, a Chapter 13 case usually allows you to retain all of your "non-exempt" assets, and over a three- to five-year period of time you pay to the court the value of those non-exempt assets for distribution to your creditors.
www.osbar.org /public/pamphlets/bankruptcy.html   (1881 words)

  
 Bankruptcy In Brief
Chapter 13 bankruptcy is a repayment plan that protects the debtor from collection action during the plan and discharges any unpaid balance of dischargeable debts at the end of the plan.
Bankruptcy is a matter of federal law and is, with the exception of exemptions, the same in every state.
Bankruptcy estate : The estate is all of the legal and equitable interests of the debtor as of the commencement of the case.
library.findlaw.com /2000/Jan/1/241458.html   (9317 words)

  
 Bankruptcy   (Site not responding. Last check: )
Bankruptcy is a legal proceeding that helps some people who cannot pay their bills get a fresh financial start by temporarily, or permanently, preventing creditors from collecting debts from you.
Chapter 7 is called "straight" bankruptcy or "liquidation." In Chapter 7, debtors are allowed to keep a certain amount of property, called "exemptions." Exempt property cannot be seized during the bankruptcy procedure.
However, since bankruptcy wipes out your old debts, you are likely to be in a better position to pay new bills and may actually have better credit immediately after the bankruptcy than immediately before the bankruptcy.
www.usafa.af.mil /superintendent/ja/bankruptcy.cfm?catname=ja   (2345 words)

  
 Bankruptcy Encyclopedia Article @ ColorfulImaginations.com (Colorful Imaginations)   (Site not responding. Last check: )
Bankruptcy filings on rise in spite of new restrictions
Even though bankruptcy filings dropped off significantly after the new Bankruptcy Act passed last year, local and national statistics show filings may start to...
It is not strictly correct to say that the trustee represents the creditors, though the creditors often benefit from actions by the trustee.
www.colorfulimaginations.com /encyclopedia/Bankruptcy   (2261 words)

  
 Corporate Bankruptcy
Although a company may emerge from bankruptcy as a viable entity, generally, the creditors and the bondholders become the new owners of the shares.
One is the old common stock (the stock that was on the market when the company went into bankruptcy), and the second is the new common stock that the company issued as part of its reorganization plan.
Under the Bankruptcy Code, two-thirds of the stockholders who vote must accept the plan before it can be implemented, and dissenters will have to go along with the majority.
www.sec.gov /investor/pubs/bankrupt.htm   (2518 words)

  
 Wisconsin State Law Library - Bankruptcy
A bankruptcy trustee is appointed to administer the nonexempt assets and distribute the assets themselves or the proceeds from selling them.
Chapter 13 bankruptcy requires you to propose a plan for repaying all or a portion of the debt in installments from your income.
Includes information on the bankruptcy process; property individuals are allowed to keep; Wisconsin bankruptcy courts; locating an attorney; and debt consolidation and credit counseling as an alternative to bankruptcy.
wsll.state.wi.us /topic/bankruptcy.html   (436 words)

  
 Bankruptcy Home
The notice will tell the creditor that you have field for a Chapter 7 Bankruptcy and that the creditor is under court order (a "stay") to immediately stop all efforts that they have been making to collect the debts you owe to them.
Chapter 13 Bankruptcy is a federal court process designed to reorganize and repay your debts.
Almost any individual, partnership, or corporation may file a chapter 7 bankruptcy petition if he or she resides, has a domicile, a place of business, or property in the United States, or a municipality.
www.peoples-law.org /consumer/bankruptcy/bankruptcy.htm   (1272 words)

  
 BANKRUPTCY
Moore's bankruptcy manual; corporate reorganization arrangements under the Chandler Act, together with general orders in bankruptcy, annotated and official forms, supplementary forms, annotated, including practice guide for the conduct of a bankruptcy proceeding.
Bankruptcy code: including text and legislative history of the Bankruptcy Reform Act of 1978 and the Bankruptcy Tax Act of 1980: with accompanying practice aids.
Amendments to the Federal rules of bankruptcy procedure: communication from the Chief Justice, the Supreme Court of the United States transmitting amendments to the Federal rules of bankruptcy procedure as adopted by the court, pursuant to 28 U.S.C. Washington: U.S. G.P.O., c1999.
www.dsl.psu.edu /library/lrr/guides/bankruptcy/resguide.html   (4261 words)

  
 Know why you should Avoid Bankruptcy - BBB Member
Bankruptcy seems to be the most convenient and easy way out during times of financial trouble to many.
Bankruptcy is followed by harmful consequences, damaging all aspects of life.
Bad Effects of Bankruptcy: The disadvantages inherent to the process of bankruptcy also speak a lot in favor of why it is better to avoid bankruptcy.
www.debtconsolidationcare.com /avoid-bankruptcy.html   (1253 words)

  
 Bankruptcy Information
Provide them with the district (i.e., Delaware) the bankruptcy was filed, when it was filed, what chapter of the bankruptcy code was filed, the bankruptcy case number, and who is representing you in the bankruptcy.
Your filing of bankruptcy will temporarily stop the Delaware Division of Revenue enforcement action to collect a debt related to tax periods that are prepetition (i.e.; before the bankruptcy petition was filed).
If you believe that your bankruptcy discharged your tax debt, or a portion thereof, for which the Delaware Division of Revenue is continuing it's efforts to collect, please send a letter with a copy of your bankruptcy discharge explaining what portion of your liability is believed to be discharged.
www.state.de.us /revenue/information/Bank_information.shtml   (543 words)

  
 Bankruptcy Lawyers & Chapter 13 Attorneys
Bankruptcy is a very difficult word to say. You are not alone. Last year over 2 million people filed for personal bankruptcy. BankruptcyHome can help you find the information regarding bankruptcy.
Bankruptcy attorneys fight the aggressive and annoying creditors for you.
Texas bankruptcy lawyers are experienced attorneys in Dallas, Fort Worth, Houston and many other locations to serve you.
www.bankruptcyhome.com   (520 words)

  
 The Truth About Bankruptcy
Bankruptcy is listed in the top 5 life-altering negative events that we can go through, along with divorce, severe illness, disability, and loss of a loved one.
I would never say that bankruptcy is as bad as losing a loved one, but it is life-altering and leaves deep wounds both to the psyche and the credit report.
Chapter 7 Bankruptcy, which is total bankruptcy, stays on your credit report for 10 years.
www.daveramsey.com /the_truth_about/bankruptcy_3018.html.cfm   (621 words)

  
 Massachusetts Law About Bankruptcy
Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, P.L. Created major changes to bankruptcy law, the majority of which were effective October 17, 2005.
Lists the 25 biggest changes to bankruptcy law as a result of 2005 bankruptcy reform, with a detailed explanation of each.
Provides a summary of each of the major bankruptcy reforms in the act, as well as a handy chart of the effective dates of each section.
www.lawlib.state.ma.us /bankruptcy.html   (351 words)

  
 McKimmey Law Office, Shawnee, Oklahoma, general practice in state and federal courts, probate, wills, power of ...   (Site not responding. Last check: )
Chapter 11 is the type of bankruptcy typically for businesses where the debt is at least $1.5 million.
Chapter 12 is the type of bankruptcy typically for businesses where at least one-half of all income must come from farming.
If however, you are found to have committed certain kinds of improper conduct described in the bankruptcy code, your discharge may be denied by the court, and the purpose for which you filed the bankruptcy petition will be defeated.
home.att.net /~mckimmey/bankruptcy.html   (975 words)

  
 Bankruptcy
Bankruptcy is a legal proceeding in which people who cannot pay their bills may be able to get a fresh financial start.
Filing bankruptcy immediately stops all your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law.
In some cases, because bankruptcy wipes out old debts, you may be in a better position to pay your current bills and you may be able to get new credit.
www.uscg.mil /d7/d7dl/bankruptcy.htm   (1313 words)

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