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Filing for bankruptcy, while helpful for some, can have a variety of serious and long-term implications. Not only will you see a credit score drop of up to 200 points, but the bankruptcy will stay ...
Personal bankruptcy is a legal process that allows people to discharge unpayable debts by liquidating assets to pay their creditors or by entering into a court-approved plan to repay them. Tips: 7...
Before you decide to proceed without an attorney, weigh factors that can impact the success of your case. Bankruptcy laws and procedures. Filing for bankruptcy requires a solid grasp of legal ...
New § 362(c)(3) provides that if the debtor files a chapter 7, 11 or 13 case within one year of the dismissal of an earlier case, the automatic stay in the present case terminates 30 days after the filing, unless the debtor or some other party in interest files a motion and demonstrates that the present case was filed in good faith with ...
Skipping a Chapter 13 plan payment can negatively impact your Chapter 13 case. If you miss a payment under the plan, the court can decide to dismiss your case or change your bankruptcy case to ...
Frequently, civil cases are bifurcated into separate liability and damages proceedings. [1] Criminal trials are also often bifurcated into guilt and sentencing phases, especially in capital cases. In divorce cases, some states allow bifurcation, that permits a divorce case to be finalized with certain aspects, such as property, to be dealt with ...
It provides for the restructuring of debt of financially distressed municipalities, limits the ability of financially distressed municipalities to obtain government funding; authorizes municipalities to participate in federal debt adjustment actions and bankruptcy actions under certain circumstances; and provides for consolidation or merger of ...
Key takeaways. There are two common types of bankruptcy: Chapter 7 and Chapter 13. Filing for bankruptcy is a time-consuming process that can take years to stop affecting your finances.