by garywojtan | Aug 29, 2009 | Bankruptcy
The chapter of the Bankruptcy Code providing for adjustment of debts of a “family farmer,” or a “family fisherman” as those terms are defined in the Bankruptcy Code. Background Chapter 12 is designed for “family farmers” or...
by garywojtan | Aug 28, 2009 | Bankruptcy
The chapter of the Bankruptcy Code providing for adjustment of debts of an individual with regular income. (Chapter 13 allows a debtor to keep property and pay debts over time, usually three to five years.) Background A chapter 13 bankruptcy is also called a wage...
by garywojtan | Aug 28, 2009 | Bankruptcy
Background A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor’s nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors)...
by garywojtan | Aug 22, 2009 | Bankruptcy
The bankruptcy discharge varies depending on the type of case a debtor files: chapter 7, 11, 12, or 13. Here, we’ll attempt to answer some basic questions about the discharge available to individual debtors under all four chapters. What is a discharge in...
by garywojtan | Aug 21, 2009 | Bankruptcy
Debtors should be aware that there are several alternatives to chapter 7 relief. For example, debtors who are engaged in business, including corporations, partnerships, and sole proprietorships, may prefer to remain in business and avoid liquidation. Such debtors...
