Archive for December, 2009
Thursday, December 31st, 2009
Chapter 7 bankruptcy is a proceeding to find all of the debtor's assets. If any are found, they are sold by a designated trustee and proceeds are distributed to any creditors that the debtor is indebted to repay.To be eligible to file Chapter 7 bankruptcy it needs to be determined ...
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Wednesday, December 30th, 2009
Bankruptcy: the most drastic of all the debt relief methods and one that under no circumstances should be entered into lightly. It is a long term solution to a short term problem and one that carries with it a remarkable amount of serious consequences and ramifications and it is for ...
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Tuesday, December 29th, 2009
Chapter 11 is a bankruptcy chapter available to individuals, sole proprietors and corporations who want to reorganize and repay debts. Chapter 11 can also be used by large farming organizations that do not qualify under Chapter 12; a bankruptcy chapter exclusively for family farmers and fishermen.Chapter 11 requires debtors to ...
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