Filing Bankruptcy
A bankruptcy filing consists of several schedules that must be included. A debtor who files for bankruptcy protection must include schedules of assets, debts and a proposed payment plan if the bankruptcy filing is for Chapters 11 or 13. A bankruptcy filing under Chapter 7 consists of liquidation, therefore a payment plan is not required.
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Frequently Asked Questions
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What should be included in a letter of explanation of bankruptcy?
If you apply for credit or a loan following a bankruptcy discharge, the lender may request that you provide a letter of explanation of bankruptcy, which is simply your written statement … more -
How do I report bankruptcy fraud?
In order to make a report of suspected bankruptcy fraud, you should contact the U.S. Department of Justice (DOJ) by mail or e-mail. Your report should include the name and address of the … more -
What Is The First Step In Filing For Bankruptcy?
After you have decided to file for bankruptcy, the first step is to file a petition with the Bankruptcy Court. On the petition, all your of your debts and property must be listed as well as … more
Legal Articles
- Some Debts May Remain After Bankruptcy
The decision about whether to file bankruptcy is a difficult to decision to make. People often worry about the lasting effects on their credit history and their ability to borrow money in the future. However, sometimes the advantage of being relieved of debt in a bankruptcy proceeding outweighs the disadvantages. In order to weigh the advantages and disadvantages for yourself, it is … more - 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 … more
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