November 25th, 2006 | Published in Bankruptcy News and Info
Bankruptcy is a legally declared inability of an individual or organization to pay creditors. During the course of a bankruptcy, a debtor may ask a court to dismiss the case. If the court finds that dismissal will not harm the creditors, ordinarily a court will grant a petition to dismiss a Chapter 7 or a Chapter 13 bankruptcy. more…
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November 25th, 2006 | Published in Bankruptcy News and Info
Chapter 13 bankruptcy is a method employed by consumers who have debts and are not in a position to pay them back. It is a way for them to restore their financial status and get back to a zero balance. more…
November 25th, 2006 | Published in Bankruptcy News and Info
Chapter 13 is for individuals with a standard income, keeping in mind their intention to pay their debts but are unable to do so in a timely manner. The rationale of Chapter 13 is to facilitate financially distressed individual debtors to propose and carry out a settlement plan under which creditors are paid over an extended period of time. more…
November 25th, 2006 | Published in Bankruptcy News and Info
When one files for Chapter 13 bankruptcy, various other loans get resolved, and the court sets up a fund that monitors the disbursement of the various debts that one has over the time period set up by the debtor. However, student loans are something that cannot be dealt with so easily. more…
November 25th, 2006 | Published in Bankruptcy News and Info
Bankruptcy is a legal process of debt elimination filed in a court of law. The purpose of the same is to relieve individuals or businesses unable to pay their accumulated debts of their financial obligations. The purpose of filing for bankruptcy is to provide a fresh start in one’s finances. more…
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