Chapter 7 Bankruptcy

Congressman Ruben Hinojosa, who Voted for BAPCPA, Files Chapter 11 Plan and Disclosure Statement with 0.00009 % of Unsecured Claims Paid, Seeks Early Discharge

07/15/11

Congressman Ruben E. Hinojosa is in the bankruptcy context is most know for while having voted for the reform bill BAPCPA had himself exempted from Debtor In Possession accounts and Congressman Hinojosa had his bankruptcy petition sealed.   The sealing of his petition is now on appeal.  He has now proposed his Chapter 11 Plan [...]

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Frequently asked questions on bankruptcy process (Chapter 7 & Chapter 13) in Russian

07/15/11

Нашу рубрику о банкротстве сегодня ведёт адвокат Ирина Ласт, партнёр в юридической фирме “Carley & Lust, Attorneys at Law PLLC”.  Добрый день, Я хотела бы кратко рассказать о процедуре банкротства и ответить на часто задаваемые вопросы от наших клиентов.  Процедура банкроства была создана для того чтобы помочь людям начать свою финансовую жизнь заново и оставить [...]

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Chapter 7 Bankruptcy: Do You Qualify? How is Eligibility Determined?

07/14/11

Qualifying for Chapter 7 Bankruptcy: The Story of Toni Braxton In October 2010, six-time Grammy Award winner Toni Braxton filed for bankruptcy a second time. In her Chapter 7 bankruptcy petition, Braxton claimed debts of between $10 million and $50 million, which grew even worse when a heart condition – diagnosed as microvascular angina – [...]

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Socialite Patricia Kluge pays bankruptcy attorney $85,000 retainer for Chapter 7

07/14/11

If you thought you are giving your clients a bargain I guess you are.  I have seen some high retainers but not $85,000 which is the retainer that Patricia Kluge and her husband paid their bankruptcy attorney.  Click on the link to the left to view the disclosure of compensation.  About half of it has [...]

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Can you Strip down a vehicle loan in Chapter 13?

07/13/11

I heard that you can keep your vehicle in Chapter 13 and pay less than your vehicle’s outstanding loan balance. Is this true? In all situations filing a Chapter 13 bankruptcy petition will allow you to keep your vehicle. Even if you are behind on your vehicle payments by several months or more, a Chapter [...]

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How Does a Divorce Affect My Bankruptcy?

07/12/11

By: Aaron Huff Divorce filings and Bankruptcy filings often intersect.  In my years as an attorney practicing heavily in bankruptcy law, I have seen countless individuals in consultations where a divorce is an issue.  It is such a frequent occurence that I even list a “divorce decree” as part of the relevant documents in my [...]

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What to do if you cannot afford to hire a bankruptcy attorney

07/07/11

I get a number of calls every month from people in despair who have no money at all and cannot afford to hire a bankruptcy attorney.  I do pro bono work in fact I do quite a bit of it, I just do not take pro bono cases that come in the front door so [...]

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Why You Should Always Consult A Tampa Bankruptcy Lawyer When Petitioning For A Bankruptcy Discharge

07/07/11

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 [...]

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Means Test Decides Whether You Can File Chapter 7 Bankruptcy if You Exceed Illinois’ Median Income

07/07/11

If you are experiencing serious financial difficulties in Illinois and your income is less than Illinois’ median income, then you can file a Chapter 7 bankruptcy, if you meet other minimum criteria. But if your income is greater than the State’s median income, then you must take a means test to see if you can [...]

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Bankruptcy Lawyers & Attorneys In Joliet Association Fees and Bankruptcy – The Risks of Walking Away

07/06/11

In some circumstances, foreclosure can be inevitable – loss of employment, changes in life circumstances, divorce – all can result in the loss of one’s home. Bankruptcy can often help protect people in tough circumstances from liability on their mortgages, giving them the option to walk away without owing their lender any money. Condos, townhomes, [...]

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