When filing for Chapters 11 or 13 your bankruptcy file must contain a schedule of all debts and assets and a proposed payment plan. Before you file bankruptcy you should speak to a qualified attorney. Bankruptcy filings do not necessarily encompass all of your outstanding debts and when a consumer files bankruptcy it will show on your credit report for up to 10 years. There may be more attractive options for you than a bankruptcy filing. Speak to an attorney to find out.
Filing for Chapter 11 Bankruptcy Protection (Business Bankruptcy)
The United States Bankruptcy Code is long and complicated. It provides different requirements for businesses and individuals who are seeking bankruptcy protection. The Code is divided into chapters and people often refer to the chapter number pursuant to which they qualify to file for bankruptcy. Who Can File for Chapter 11? Chapter 11 Bankruptcy is usually used by businesses that …
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What is the Difference Between a Chapter 7 and a Chapter 13 Bankruptcy?
After you have decided to file for bankruptcy, you may have to choose between the two types of bankruptcy proceedings that are available for individuals – Chapter 7 bankruptcy and Chapter 13 bankruptcy – depending on your eligibility for each. Deciding which type of bankruptcy is right for you is an important choice, because the type will determine whether you have to pay back at …
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