It depends on if its for an individual or business. For an individual there is Chapter 7 and 13. In chapter 7 you will basically repay your debt at a reasonable amount to a trustee over the course of 5 years. In Chapter 13 your assets, (home car) are safe as long as you make the payments to the trustee. In Chapter 7 basically every debt is wiped out (but you'll take a big hit on your credit score) and your assets are not safe. A trustee can order your assets (car,home) to be sold to pay off your creditors.
what are the various categories of bankruptcy individuals can file for?
If you file bankruptcy, you file bankruptcy on everything. You can not file bankruptcy on one loan.
No they never did file for bankruptcy
If you are talking about a Chapter 7 bankruptcy, It takes 7 to 9 years after you can file bankruptcy again.
Bankruptcy is a legal proceeding whereby an individual or a business can declare an inability to pay back debts. Bankruptcy allows individuals or businesses to either restructure their debt and pays it back within a payment plan , or have most of their debts absolved completely.
They did not file for bankruptcy.
No, they did not file for bankruptcy.
No, both parties on a joint mortgage do not need to file bankruptcy. They can file a joint bankruptcy or a single bankruptcy.
what companies did file a bankruptcy in 2005,2006 and 2007.
No, you cannot file my cell phone bill in a bankruptcy. However, you can file YOUR cell phone bill in a bankruptcy.
Anyone who is a resident of the state can file for bankruptcy in Wisconsin. There is no restriction on who can file, only for which chapter they can file in.
Yes, a person with a PA Gaming License can file for bankruptcy. However, it is important to consult with an attorney who specializes in bankruptcy law and understands the specific regulations and requirements for individuals holding gaming licenses. Filing for bankruptcy may have consequences on the license status, so it is crucial to seek professional legal advice.
Can you file bankruptcy if you caused a car accident?