With Chapter 7 bankruptcy, the goal is to pay off the debt. This is done by liquidating assets. For example, someone who owns an $80,000 sports car may have to sell it and use the proceeds to pay off some of their debt. If that doesn’t cover the entire amount, the...
Cherry Hill Bankruptcy Blog
Chapter 13 is an extremely helpful way to protect assets such as save your home from foreclosure by paying mortgage arrears over time, reducing what is owed on a car and reducing debt in general, among other things.
The City of Chester is home to the Philadelphia Union soccer team. Thanks to the outstanding play of goalie Andre Blake, a great defense and lots of scoring, the Philadelphia Union have advanced to the Eastern Conference Finals. Unfortunately, the Stadium and a nearby Casino have done little to boost the financial fortunes of Chester Pennsylvania.
Where you live can impact the type of bankruptcy you can file. That is because several years ago, Congress determined that in deciding whether a debtor can wipe out their debt entirely or must pay some of the debt back, there should be more focus on a debtor’s income
Credit cards can have a major impact on both the need to file bankruptcy and your ability to improve your credit score after bankruptcy.
It should be noted that Chapter 7 and Chapter 13 bankruptcy doesn’t generally discharge Student loan debt, although there are exceptions for Undue Hardship. In addition bankruptcy can impact certain private student loans. Chapter 13 can also be used to hold off on student loan collection during the five year chapter 13 plan.
Undoubtedly the Pandemic hitting just one year after formation had a major impact on the Laundromat. Although both individuals and companies can file a Chapter 7 bankruptcy, there are generally more issues in a Chapter 7. For one, with a business there is often assets to be liquidated. When an individual files bankruptcy, no assets are typically sold because individuals are allowed to exempt (protect) a lot of their assets.
Can a debtor buy or lease a car while they are in bankruptcy. The answer is yes.
Cineworld Group, the second largest movie theater chain, filed a chapter 11 in the United States Bankruptcy Court for the Southern District of Texas. Regal Cinemas is owned by Cineworld Group
The location of the Courthouse will impact the trustees assigned to your case as well as the judge appointed in your case