Chapter 15 bankruptcy laws are a set of new policies on the code dealing with financial incapability. They have been added by the bankruptcy and consumer prevention act of 2005 which replaces section 304 of the code. The main purpose of this law is to lay the strategy for dealing with insolvency cases of parties in different countries.
Archive for the ‘Bankruptcy’ Category
A Look at Voluntary Bankruptcy
Monday, July 20th, 2009You might be wondering what voluntary bankruptcy is all about. Who gets themselves in trouble willingly? This is a situation whereby, after you have realized that you are no longer able to pay your creditors, you file a petition, declaring that you are in a state of insolvency.
Bankruptcy Software
Sunday, July 19th, 2009Filing for insolvency is a legal process that calls for the use of appropriate tools. With this in mind, experts have come up with some software that allows you to go through the process easily. Although the software targets attorneys, at the end of the day it also benefits you as a debtor. This is because the process is made easier and more reliable.
Chapter 7 Bankruptcy Procedure
Saturday, July 18th, 2009Chapter 7 bankruptcy law is also known as liquidation. It allows the debtor to pay off debts by selling his assets and dividing the proceeds among his creditors. A special court officer known as a trustee is appointed. In the states of North Carolina and Alabama, he/she is known as the bankruptcy administrator.
Filing For Bankruptcy Without a Lawyer to Assist You
Friday, July 17th, 2009Desperate times call for desperate measures. What has this got to do with bankruptcy? When you come to a point where you just have to declare and file for insolvency, going alone seems the best way out for many people. But is it always the case? Probably you will find it more of a burden to hire a lawyer due to the legal charges involved, but hey, have you considered that you could actually be saving yourself a lot of heartache?
