bankruptcy law

One of the main benefits sought in bankruptcy is the discharge. In most cases a petitioner will need to fulfill the terms of the bankruptcy before being eligible for a discharge. There are numerous requirements debtors must fulfill before being eligible for a Chapter 13 bankruptcy discharge. Anyone seeking bankruptcy protection should always consult a [...]

The stagnant economy and depressed housing market has created a huge financial burden for millions of Americans. Many Americans are unemployed and having a difficult time keeping up with their debt obligations. Furthermore, declining home values are exacerbating the financial strain put on families. Millions of homeowners now owe more on their mortgage than the [...]

A Chapter 7 bankruptcy may provide a person inundated with debt some relief. A Chapter 7 bankruptcy gives the debtor an opportunity to liquidate certain assets in exchange for a discharge from debts owed. Creditors included in the bankruptcy will be prohibited from taking any further collection action against the debtor once the discharge is [...]

Lehman Brothers Holdings Inc. early Wednesday filed a revised plan to repay creditors that has much broader support than its previous proposals and could result in other parties withdrawing their rival plans and a final deal being confirmed by the court before the end of the year. Read the Daily Bankruptcy Review article here.