In addition, you probably will not be able to co-sign a loan for another person. It is unlikely that your bankruptcy trustee will approve the co-signing, because it would effectively promise your income to a new creditor in the event that the person for whom you are co-signing fails to make the required payments. Further, your credit rating has suffered as a result of your bankruptcy filing, which means that you probably would not receive a very good loan deal.
Source: atlantabankruptcylawattorney.com
Video: Chapter 13 and Chapter 7 Bankruptcy Attorney
How To Locate A Chapter 7 Attorney In McDonough GA
Many people are living with the unfortunate circumstance of not being able to pay for their bills. Are you scared to answer the phone, fearing it?s another credit collector inquiring about a payment that you haven?t been able to make? Are you worried that you house is going into foreclosure because you simply cannot make the payments? Has the bank threatened you with repossession of your vehicle? Whether you have recently lost your job, or your obligations have just gotten too much for you to handle, you may need assistance in finding out what your options are. Is bankruptcy the only way out, or do you have other choices? A chapter 7 attorney in McDonough GA can help you explore all of your financial options and assist you in choosing the right solution that benefits both you and your family.
Source: articles-reference.com
Phoenix Bankruptcy Attorney Blog
A family forced to leave their home may be unable to bring their pets with them, even though they consider the pets to be members of the family. This is because some people move in with relatives or friends who are unable to have animals in their homes. Others go from being homeowners to renters and have to face landlords who may severely restrict the number or size of pets that people can bring or may prohibit pets altogether. It?s a heartbreaking situation. Fortunately, it hasn?t gone completely unnoticed, and some charitable organizations have stepped up to lend a hand.
Source: maricopacountybankruptcyattorney.com
What sort of Bankruptcy Attorney In Chi town Might help
In the world of public finance, Orange County, California, has long had an unfortunate distinction: In 1994, the county filed the largest municipal bankruptcy declaration in history, seeking court assistance to restructure $1.7 billion in debt. This month, however, Orange County finally lost its dubious claim to fame. On November 9, political leaders in Jefferson County, Alabama ? home of Birmingham, the state?s largest city ? asked a federal bankruptcy court to help the county restructure debt of more than $4 billion. The county?s debt burden stems from a disastrous investment in a local sewer system and amounts to nearly $7,000 for each of the 658,000 men, women and children who call the county home. That a bankruptcy declaration of such magnitude is possible has raised alarms nationally over whether more municipal crises may be on the way. In this explainer, Stateline examines what it means when a municipality files for Chapter 9 bankruptcy ? and why states should care. What is Chapter 9? It?s the portion of the federal bankruptcy code that applies to municipalities. Created by Congress in 1937, it allows municipalities to seek court protection in the event of fiscal crisis and is meant to ensure that basic government functions can continue while policy makers restructure their debt. Chapter 9 differs from other sections of the bankruptcy code, such as Chapter 11 and Chapter 13, which generally provide court relief to cash-strapped businesses and individuals, respectively. Who can file for Chapter 9? Only municipalities ? not states ? can file for Chapter 9. To be legally eligible, municipalities must be insolvent, have made a good-faith attempt to negotiate a settlement with their creditors and be willing to devise a plan to resolve their debts. They also need permission from their state government. Fifteen states have laws granting their municipalities the right to file for Chapter 9 protection on their own, according to James Spiotto, a bankruptcy specialist with the Chicago law firm of Chapman and Cutler. Those states are Alabama, Arizona, Arkansas, California, Idaho, Kentucky, Minnesota, Missouri, Montana, Nebraska, New York, Oklahoma, South Carolina, Texas and Washington. The remaining states all want a say in the process, in some cases requiring that municipalities receive state approval before they file. One of those states, Pennsylvania, is now in the process of challenging the bankruptcy declaration made by its own capital city, Harrisburg, in October. Georgia is the only state that does not allow its municipalities to file for bankruptcy under any circumstances. Georgia municipalities in severe fiscal trouble ?are left to work things out within the state political system,? says Paul Maco, a municipal bankruptcy expert and partner with the Vinson & Elkins law firm in Washington, D.C. That could include asking the legislature for emergency funds. States have plenty of serious fiscal problems, too. Why can?t they file for bankruptcy? States have not been granted that authority by Congress, nor have they sought it. The idea of allowing state bankruptcy was floated earlier this year by Newt Gingrich, the former U.S. House speaker and current presidential candidate, and Jeb Bush, the former Florida governor. In a Los Angeles Times op-ed, the two Republicans argued that bankruptcy would be a way for strapped states such as California and Illinois to tackle their enormous debts, particularly for public pensions and other retirement benefits. State leaders from both parties repudiated the idea. ?The mere existence of a law allowing states to declare bankruptcy only serves to increase interest rates, raise the costs of state government and create more volatility in financial markets,? Nebraska Governor Dave Heineman, a Republican, and Washington Governor Chris Gregoire, a Democrat, said in a joint statement. The last time any state came close to bankruptcy ? by defaulting on its loans? was during the Great Depression, when Arkansas racked up $160 million in debt on what was then a $14 million annual budget. How common are municipal bankruptcies? Very rare. Since 1937, when Congress added Chapter 9 to the federal bankruptcy code, about 620 municipalities have filed for bankruptcy. That?s fewer than 10 a year. In the last year alone, by comparison, there were nearly 12,000 bankruptcy filings under Chapter 11 and 418,000 under Chapter 13, according to the administrative office of the U.S. Courts. Most municipalities that do file for bankruptcy are special tax districts and small jurisdictions that do not issue public debt. Municipal utilities are a common example. What happens once a municipality files for Chapter 9? Municipal finances move into the jurisdiction of the courts, but not in the way that corporate or personal finances in Chapter 11 or Chapter 13 cases do. Under those sections, courts have broad leverage to control the finances of the company or individual to chart a path forward. In addition, creditors have more leverage, such as by foreclosing on the home of a bankrupt individual. In Chapter 9 bankruptcy, creditors cannot, for instance, foreclose on a municipal building to recoup the money they are owed. More importantly, the courts themselves have no authority to make spending or other policy decisions on behalf of the municipality. That power remains with the locality under the U.S. Constitution. Under Chapter 9, municipalities must come up with their own debt restructuring plans, and courts approve or reject it with input from other stakeholders. Source: stateline.org Source: filebankruptcyco.com Source: filebankruptcyco.com Source: businessbankruptcyco.com Source: bankruptcylawyersco.com Source: bankruptcycaliforniaco.com Source: debtreliefmag.com Source: debtreliefmag.com Source: debtreliefmag.com
Source: foreclosureattorneyco.com
Ryan Lochte?s parents struggling to stay afloat in Florida
An emergency bankruptcy petition?may enable an individual to catch up on their mortgage payments to keep their property. However, bankruptcy can do so much more than successfully halt foreclosure proceedings. Depending on the circumstances and the chapter the filer chooses, bankruptcy can provide either relief from certain debts or the chance to restructure said debts in a manageable way.
Source: orlandobankruptcylawblog.com
Can I keep my house if I file bankruptcy in Georgia?
In a Chapter 7 Bankruptcy, the Bankruptcy Code and Georgia Law contain various exemptions that in most cases will allow you to keep all of your property, including your home. Individuals are allowed $21,500 in home equity and married couples $43,000 (as long as the couple is filing bankruptcy jointly). With the current real estate market, most people filing bankruptcy are underwater in their homes and do not have to worry about equity being an issue. I have resources to quickly provide you the current market value of your home and determine if the amount of equity is going to be an issue in a Chapter 7 Bankruptcy
Source: wordpress.com
What sort of Bankruptcy Attorney In Chi town Might help
Credit card debt ridden shoppers, cash-strapped businesses, as well as without insurance clinic patients might all find themselves wondering whether or not seeing a personal bankruptcy attorney in Chi town will help their particular fiscal upcoming. To handle these types of inquiries, you should see the individual bankruptcy solutions and also to that circumstances they are most suitable. A personal bankruptcy law firm inside Detroit might help describe the many a bankruptcy proceeding choices to a person. Any Chicago, il bankruptcy lawyer can also help an individual make and also document Birkenstock Sandals the essential court papers for each and every certain sort of Cheap Birkenstock personal bankruptcy. When a Chapter 7 personal bankruptcy can be registered, all of someone?s obligations are usually understood, unless of course your debt is actually reaffirmed, and their possessions are generally liquidated in order to settle lenders a portion of the they?re due. Selected property is resistant to liquidation up to certain amount with respect to the sort of resource. Considering that Chapter 7 bankruptcy bankruptcy is just not readily available for everyone as there are earnings and also credit card debt limits, bankrupties law firm inside Chicago may check with one to evaluate if you are eligible for Chapter 7 bankruptcy personal bankruptcy. In case you are qualified to apply for Chapter 7 bankruptcy individual bankruptcy, any Detroit bankruptcy lawyer will help you decide if it really is inside needs of one?s economic long term to endure liquidation get rid of your finances.Whenever a Phase Tough luck individual bankruptcy can be registered, any debtor enters into any repayment plan using the process of law authorization. These unguaranteed financial obligations which remain at no more the particular loan repayment period are usually forgiven. Somebody must meet up with specific income as well as tool restrictions for being eligible for a Chapter 13 individual bankruptcy. A bankruptcy law firm within Chicago may assess your finances to be able to evaluate if an individual fulfill the entitled needs and whether an instalment 13 personal bankruptcy is your own interests. In the event you individual your property and even maintain mortgage loan and prevent foreclosures, Phase Tough luck could be the best brand out there. A new Chicago bankruptcy attorney will aid you to full and file the particular thorough court papers that must be posted which has a Section 13 a bankruptcy proceeding and appear in court in your stead since necessary.If a person doesn?t match the revenue and resource limitations regarding Phase Tough luck personal bankruptcy but wishes to stay away from asset liquidation, an instalment Eleven personal bankruptcy would be the best option. Just like a Phase 13 individual bankruptcy, the repayment plan has to be authorized by the court docket each time a Section 14 individual bankruptcy is actually recorded. The person can easily avoid resource liquidation yet he or she will be required to utilise all throw-away income through the payment term to repay financial obligations. Virtually any staying consumer debt is going to be cleared. The Chi town bankruptcy attorney Birkenstock Clog can explain your repayment schedule course of action for your requirements. A bankruptcy legal professional inside Detroit can also help a person file the necessary papers with the court and appear on your behalf from any the courtroom procedures.
Source: x10hosting.com
Riverside Debt Relief Attorney
In the world of public finance, Orange County, California, has long had an unfortunate distinction: In 1994, the county filed the largest municipal bankruptcy declaration in history, seeking court assistance to restructure $1.7 billion in debt. This month, however, Orange County finally lost its dubious claim to fame. On November 9, political leaders in Jefferson County, Alabama ? home of Birmingham, the state?s largest city ? asked a federal bankruptcy court to help the county restructure debt of more than $4 billion. The county?s debt burden stems from a disastrous investment in a local sewer system and amounts to nearly $7,000 for each of the 658,000 men, women and children who call the county home. That a bankruptcy declaration of such magnitude is possible has raised alarms nationally over whether more municipal crises may be on the way. In this explainer, Stateline examines what it means when a municipality files for Chapter 9 bankruptcy ? and why states should care. What is Chapter 9? It?s the portion of the federal bankruptcy code that applies to municipalities. Created by Congress in 1937, it allows municipalities to seek court protection in the event of fiscal crisis and is meant to ensure that basic government functions can continue while policy makers restructure their debt. Chapter 9 differs from other sections of the bankruptcy code, such as Chapter 11 and Chapter 13, which generally provide court relief to cash-strapped businesses and individuals, respectively. Who can file for Chapter 9? Only municipalities ? not states ? can file for Chapter 9. To be legally eligible, municipalities must be insolvent, have made a good-faith attempt to negotiate a settlement with their creditors and be willing to devise a plan to resolve their debts. They also need permission from their state government. Fifteen states have laws granting their municipalities the right to file for Chapter 9 protection on their own, according to James Spiotto, a bankruptcy specialist with the Chicago law firm of Chapman and Cutler. Those states are Alabama, Arizona, Arkansas, California, Idaho, Kentucky, Minnesota, Missouri, Montana, Nebraska, New York, Oklahoma, South Carolina, Texas and Washington. The remaining states all want a say in the process, in some cases requiring that municipalities receive state approval before they file. One of those states, Pennsylvania, is now in the process of challenging the bankruptcy declaration made by its own capital city, Harrisburg, in October. Georgia is the only state that does not allow its municipalities to file for bankruptcy under any circumstances. Georgia municipalities in severe fiscal trouble ?are left to work things out within the state political system,? says Paul Maco, a municipal bankruptcy expert and partner with the Vinson & Elkins law firm in Washington, D.C. That could include asking the legislature for emergency funds. States have plenty of serious fiscal problems, too. Why can?t they file for bankruptcy? States have not been granted that authority by Congress, nor have they sought it. The idea of allowing state bankruptcy was floated earlier this year by Newt Gingrich, the former U.S. House speaker and current presidential candidate, and Jeb Bush, the former Florida governor. In a Los Angeles Times op-ed, the two Republicans argued that bankruptcy would be a way for strapped states such as California and Illinois to tackle their enormous debts, particularly for public pensions and other retirement benefits. State leaders from both parties repudiated the idea. ?The mere existence of a law allowing states to declare bankruptcy only serves to increase interest rates, raise the costs of state government and create more volatility in financial markets,? Nebraska Governor Dave Heineman, a Republican, and Washington Governor Chris Gregoire, a Democrat, said in a joint statement. The last time any state came close to bankruptcy ? by defaulting on its loans? was during the Great Depression, when Arkansas racked up $160 million in debt on what was then a $14 million annual budget. How common are municipal bankruptcies? Very rare. Since 1937, when Congress added Chapter 9 to the federal bankruptcy code, about 620 municipalities have filed for bankruptcy. That?s fewer than 10 a year. In the last year alone, by comparison, there were nearly 12,000 bankruptcy filings under Chapter 11 and 418,000 under Chapter 13, according to the administrative office of the U.S. Courts. Most municipalities that do file for bankruptcy are special tax districts and small jurisdictions that do not issue public debt. Municipal utilities are a common example. What happens once a municipality files for Chapter 9? Municipal finances move into the jurisdiction of the courts, but not in the way that corporate or personal finances in Chapter 11 or Chapter 13 cases do. Under those sections, courts have broad leverage to control the finances of the company or individual to chart a path forward. In addition, creditors have more leverage, such as by foreclosing on the home of a bankrupt individual. In Chapter 9 bankruptcy, creditors cannot, for instance, foreclose on a municipal building to recoup the money they are owed. More importantly, the courts themselves have no authority to make spending or other policy decisions on behalf of the municipality. That power remains with the locality under the U.S. Constitution. Under Chapter 9, municipalities must come up with their own debt restructuring plans, and courts approve or reject it with input from other stakeholders. Source: stateline.org Source: filebankruptcyco.com Source: filebankruptcyco.com Source: businessbankruptcyco.com Source: bankruptcylawyersco.com Source: bankruptcycaliforniaco.com Source: debtreliefmag.com Source: debtreliefmag.com
Source: debtreliefmag.com
Chapter 7 Bankruptcy : Documents Needed to File : Lawyer Directory
If you are considering filing for bankruptcy, you should consult with a good Bankruptcy Attorney in your area. Maxwell Law Firm represents clients in North Carolina with : filing for bankruptcy, chapter 7 bankruptcy, foreclosure defense, chapter 13 bankruptcy, and loan modifications. You may schedule your appointment by calling 704-780-1100. Save an additional 20% off the fees by scheduling your appointment online.
Source: targetlaw.com
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Chapter 7 bankruptcy is a possible debtor lifeline
Be aware that federal modifications in 2005 make it more difficult to qualify for Chapter 7 bankruptcy. You must pass an ?earnings test? similar to bankruptcy law prior to the 1970s-era federal changes. You must prove to the court that your income makes it impossible to pay off your current creditors. Removal of the earnings test led to more strategic bankruptcies, even during strong economies. Congress eliminated this perceived loophole with its 2005 revisions to federal law.
Source: miamibankruptcylawfirmblog.com
What may tip scales for Phoenix companies on filing Chapter 7?
While National Service Industries could have chosen a Chapter 13 filing, it is likely that the significant difference between the company?s assets and their debts made the Chapter 7 filing more sensible for this company. There?s no word on what specific factors led to the company?s asset-debt imbalance. Perhaps it, like many Phoenix area businesses, faced stiff competition and was confronted with high costs of doing business. In a faltering economy, the chances of successfully climbing out of severe financial distress can be low. Sometimes dissolving under a Chapter 7 bankruptcy filing is the optimal option.
Source: ellettlaw.com
Related posts:
- IC Arizona: Filing Chapter 7 bankruptcy in Phoenix: What is the process?
- What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?
- Questions about Chapter 13 and Chapter 7 bankruptcy, P.2
- How does Chapter 13 Bankruptcy Work : Lawyer Directory
- Sacramento Bankruptcy Lawyer serving Vacaville Discusses Underwater Homes and Chapter 7 or Chapter 13 Bankruptcy
Source: http://foreclosureattorneyco.com/chapter-13-bankruptcy-and-co/
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