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The two types for individuals are Chapter 7 & 13 and businesses can reorganize under chapter 11 and there is also chapter 9 (not commonly used)
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What if your condominium declares bankruptcy?
Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared. Read more, below.
What is the bankruptcy differences?
The difference between the types of bankruptcies have mainly to do with whether the filing is for an individual or a business. There are two types of bankruptcy for individuals. Those are Chapter 7-by far the most commonly filed form of bankruptcy and Chapter 13-which is more of a debt consolidation type of bankruptcy. Both have various positives and negatives. The article below goes into the specifics of Chapter 7 vs Chapter 13.
What are the types of bankruptcy?
Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code. Bankruptcy is a court proceeding under a federal statute called the "Bankruptcy Code". The Bankruptcy Code allows persons or other entities in financial distress relief from some or all of that person's debt. Bankruptcies are administered through a separate federal court called the United States Bankruptcy Court. There are several types of bankruptcies. For individuals, the two main types of bankruptcy filings are cases under Chapter 7 or Chapter 13 of the Bankruptcy Code. Chapter 7 cases are also referred to as "liquidation" cases. Chapter 13 cases are commonly referred to as "debt adjustment" or "wage earner" cases. Individuals can also be eligible for Chapter 11 reorganization, but Chapter 11 is normally used by debtors in business or debtors with extremely high amounts of debt. Farmers can also file a separate type of bankruptcy available only to farmers under Chapter 12 of the Bankruptcy Code. The word "Chapter" is simply a reference to a chapter number in the Bankruptcy Code.
Where can one get help for credit card debt bankruptcy?
There are many places where one can get help for credit and debt bankruptcy. For example, Debt Advisors Scotland, Consumer Information and Total Bankruptcy.
How long does chapter 13 bankruptcy stay on credit report in state of ND?
It does not matter what state you filed your Chapter 13 Bankruptcy, as it was done in Federal Court, and these types of events stay on your credit for 10 years.
How often can one file bankruptcy for businesses?
The first step in filing bankruptcy for any business is to speak with a bankruptcy lawyer. There are many different types of bankruptcies and one needs to know which one to file before anything else can be done.
Where can one find information about bankruptcy layers in Orlando Florida?
There are many bankruptcy lawyers who work in Orlando, Florida. The website Avvo has client reviews of over 200 bankruptcy attorneys in Orlando. FindLaw is another website that allows you to search out different types of lawyers in Orlando.
What if your condominium declares bankruptcy?
Your condominium association is a public company. There are several types of bankruptcy, and the type chosen by the association will determine how business proceeds once bankruptcy is declared. Read more, below.
Is bankruptcy considered a civil action?
There are generally 2 types of court actions; Civil and Criminal. Criminal actions are they types where a jail term may be imposed and are prosecuted by the State. That is not the situation in Bankruptcy....hence it is civil.
Where can I find information on bankruptcy law?
There are different types of bankruptcy. A bankruptcy attorney can help you determine what type best suits your needs. This government website has a lot of helpful information on the various types, as well as information basics about filing, forms and other resources: http://www.uscourts.gov/FederalCourts/Bankruptcy.aspx
Can you file bankruptcy on restitution?
No you can not file bankruptcy on anything that is court ordered.CAN YOU FILE BANKRUPTCY ON RESTITUTION?
What kind of lawyer would one use when declaring bankruptcy?
When one is declaring bankruptcy, they should use a lawyer familiar with bankruptcy. There are different types of bankruptcy to consider, such as liquidation or cancelling your debts, or reorganizing for wage earners who can still make debt payments.
How does bankruptcy effect your credit score?
First off once you file bankruptcy you cannot do it again for 7 years. Bankruptcy stays on your credit report for 10 years. Rather to try to describe what the different types of bankruptcy will do to your credit click the link for more information.
How many year after you file bankruptcy can you file bankruptcy aging?
If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.
Are there many law offices in Chula Vista?
Yes, there are many different types of law offices available in Chula Vista. These offices range in needs of divorce, bankruptcy and automobile accidents.
Where online can you find a bankruptcy lawyer in the Dallas area?
Many of the law firms in the Dallas area offer bankruptcy lawyers. One law firm I found that offers many bankruptcy lawyers is 214bankruptcy, they specialize in bankruptcy.
Do you have to be working to file for bankruptcy?
There are three types of bankruptcy namely Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, and Chapter 11 Business Bankruptcy. Chapter 7 bankruptcy will discharge most types of debts for the average citizen. It will stay on record for ten years, but the major benefit is the stay it provides which prevents creditors from hassling you. On the other hand Chapter 11 bankruptcy is used by businesses, not citizens, to reorganize debts while Chapter 13 bankruptcy is wage earner's bankruptcy, which allows you to repay your debt through a plan. Among these three, Chapter 13 bankruptcy is considered as the best option for people with a steady income, who happen to have fallen behind in loan payments. idk and i dont give rats a**. hahahaha
