• Locate Us
  • Login
AZ Chuck Law
Advertisement
  • Attorney
  • Bankruptcy
  • Divorce
  • Law
  • Lawyers
  • Legal Services
  • Personal Injury
No Result
View All Result
  • Attorney
  • Bankruptcy
  • Divorce
  • Law
  • Lawyers
  • Legal Services
  • Personal Injury
No Result
View All Result
AZ Chuck Law
No Result
View All Result
Home Law

Bankruptcy: What You Need to Know

Landis Macon by Landis Macon
September 29, 2021
in Law
0
Bankruptcy: What You Need to Know
0
SHARES
19
VIEWS
Share on FacebookShare on Twitter

Insolvency is never the right choice for anyone to make. On the contrary, it causes you problems and can ruin your life if not taken care of correctly or quickly enough. Bankruptcy laws are there to help people who have fallen on hard times, but you must understand how bankruptcy works before signing up with a lawyer or filing yourself. To make informed decisions, be sure to check out Roemerman Law.

There are different types of bankruptcy. Each one is different in terms of its effects on you and your finances.

Four types of bankruptcy are:

Chapter 13 – this type involves keeping all your assets while making monthly payments to a trustee for up to five years (the length can be extended if necessary). Once the term has ended, any remaining debt will need to be repaid directly by you or through your estate when it’s sold off after death. The upside is that everything stays intact — no asset liquidations are required here.

Chapter 11 is an option, debts must remain paid, but there won’t be anything left over afterwards from what was already given away before the proceedings were. At least they’ll pay for the legal fees.

Chapter 12 is for farmers who have fallen on hard times and can’t meet their financial obligations through traditional means — they’re allowed to keep a portion of what’s left after bankruptcy proceedings finished, but not all of it. It just depends on how much money there was, to begin with (or how little). This is known as “wage earner” protection. It essentially gives you back your job title until everything has been sorted out properly regarding finances or assets that need liquidating.

Chapter 15 is a special provision for foreign nationals dealing with bankruptcy proceedings in the United States. It’s not designed to help anyone personally. Still, it can allow your creditor or debt collection agency more power over you if they’re based overseas and want their money back as soon as possible.

Why filing for insolvency might be necessary?

– If creditors are calling day and night because you haven’t paid your bills

– If you’re unable to make rent or mortgage payments

– If creditors are about to seize the property (like car repossession)

Conclusion:

Sometimes, it’s just time to say goodbye and start afresh with a clean slate so that you can get back on track financially without having any more problems than before. It all depends on how bad things got in terms of personal debt accumulation — but now you know what options are available if necessary.

Previous Post

Personal Injury Law: Comprehensive Guide

Next Post

Reasons Why People Wish They Had Hired a Lawyer

Landis Macon

Landis Macon

Related Posts

Alternatives to Creating a Trust
Law

Alternatives to Creating a Trust

by Landis Macon
November 4, 2022
What are the Main Arguments Against Immigration?
Law

What are the Main Arguments Against Immigration?

by Landis Macon
October 31, 2022
How much does my car insurance go up if I have an accident?
Law

How much does my car insurance go up if I have an accident?

by Landis Macon
August 24, 2022
Benefits of having a lawyer in a personal injury case
Law

Benefits of having a lawyer in a personal injury case

by Landis Macon
August 23, 2022
Everything you need to know about Canada Immigration law
Law

Everything you need to know about Canada Immigration law

by Landis Macon
July 26, 2022
Next Post
Reasons Why People Wish They Had Hired a Lawyer

Reasons Why People Wish They Had Hired a Lawyer

Premium Content

How to speak to a Lawyer For Legal Counsel For Law Questions

How to speak to a Lawyer For Legal Counsel For Law Questions

May 6, 2019
Bankruptcy: What You Need to Know

Bankruptcy: What You Need to Know

September 29, 2021
Appears Like Everybody Is really a Bankruptcy Attorney

Appears Like Everybody Is really a Bankruptcy Attorney

January 29, 2020

Recent Posts

  • What to Do When a Dog Bites February 14, 2023
  • Employment Equality: The Importance of an Employment Attorney in Grand Junction-CO January 20, 2023
  • Minimizing the Risk of Construction Injuries January 19, 2023
  • How to Choose the Right Bankruptcy Attorney November 10, 2022
  • Settlement Process of Your Property Damage Claim November 4, 2022
  • Alternatives to Creating a Trust November 4, 2022

Archives

  • February 2023
  • January 2023
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • May 2019

Browse by Tags

best family lawyer Parramatta CK Lawyers Probate Lawyer family attorney
  • Home
  • Locate Us

© 2020 AZ chuck Law- All Rights Reserved.

No Result
View All Result
  • Home
  • Landing Page
  • Buy JNews
  • Support Forum
  • Contact Us

© 2020 AZ chuck Law- All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?