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Creditor Claims Against Retirement Assets

Creditor Claims Against Retirement Assets

Creditor Claims Against Retirement Assets Creditor claims is defined as written claim filed in federal bankruptcy court by a person or entity owed money by a debtor who has filed for bankruptcy. A written claim filed in probate court by a person or entity owed money by a person who has died. State law sets… Continue reading Creditor Claims Against Retirement Assets

Chapter 13 Bankruptcy Utah

Chapter 13 Bankruptcy Utah

Chapter 13 Bankruptcy Utah Many people think of bankruptcy court as the final stop on a path to financial ruin, the only option left when repaying debts seems impossible. But there’s hope even in bankruptcy, and Chapter 13 of the federal bankruptcy code offers the closest thing to a soft landing. Chapter 13 allows those… Continue reading Chapter 13 Bankruptcy Utah

Chapter 12 Bankruptcy For Farmers And Fishermen

Chapter 12 Bankruptcy For Farmers And Fishermen

Chapter 12 Bankruptcy For Farmers And Fishermen Chapter 12 bankruptcy is a relatively new addition to bankruptcy laws. It allows “family farmers” and “family fisherman” to restructure their finances and avoid liquidation or foreclosure. It’s very similar to Chapter 13 bankruptcy, but provides additional benefits to debtors. For much of our nation’s history, there were… Continue reading Chapter 12 Bankruptcy For Farmers And Fishermen

Bankruptcy

Bankruptcy

Bankruptcy is a legal process through which you are declared unable to pay your debts when they fall due. You may file for bankruptcy (voluntary bankruptcy), or alternatively, creditors can apply to have you declared bankrupt. If you are declared bankrupt by either of the above means, you will be removed from managing your own… Continue reading Bankruptcy

Bankruptcy Chapter 13

Bankruptcy Chapter 13

Bankruptcy Chapter 13 Bankruptcy is a federal court process designed to eliminate debts or repay them under the protection of the bankruptcy court. For individuals, most people file either Chapter 7 or Chapter 13, because a court order can call an automatic stay, prohibiting most creditors from hounding you in order to collect what you… Continue reading Bankruptcy Chapter 13

Bankruptcy In Utah

Bankruptcy In Utah.

Bankruptcy In Utah If you are struggling with debt, bankruptcy might be a good option. But before you file for Chapter 7 or Chapter 13 bankruptcy, explore alternatives to bankruptcy. In some situations, a non-bankruptcy course of action may be your best remedy. If your main concern is that creditors are harassing you, bankruptcy is… Continue reading Bankruptcy In Utah

Bankruptcy Case: Dismissed Without Prejudice

Bankruptcy Case Dismissed Without Prejudice.

Bankruptcy Case: Dismissed Without Prejudice A bankruptcy dismissal happens when something goes wrong and the bankruptcy court rejects your case. There are many reasons this can happen and many consequences. The word “dismiss” shouldn’t be confused with discharge, which is when certain debts are eliminated. Instead, dismissal means that the bankruptcy case has been thrown… Continue reading Bankruptcy Case: Dismissed Without Prejudice

Bankruptcy Chapter 11

Bankruptcy Chapter 11

Bankruptcy Chapter 11 Chapter 11 bankruptcy is designed to allow struggling businesses to restructure their finances and maximize the return to their creditors and owners. Businesses turn to Chapter 11 bankruptcy when pinched financially, often due to a temporary downturn. It can help a viable business keep the doors open long enough to regroup and… Continue reading Bankruptcy Chapter 11

Bankruptcy V.S. Doing Nothing

Bankruptcy V.S. Doing Nothing.

Bankruptcy V.S. Doing Nothing If you’re struggling with debt, filing for bankruptcy can be a good way to get your finances back on track. But not everyone needs to start a bankruptcy case right away. Whether you should file for bankruptcy or do nothing will depend on whether you’re vulnerable to creditors. In some cases,… Continue reading Bankruptcy V.S. Doing Nothing

Bankruptcy And The Personal Guarantee

Bankruptcy And The Personal Guarantee.

Bankruptcy And The Personal Guarantee A personal guarantee is a contract wherein an individual agrees to pay a business debt. A business owner will often sign a personal guarantee if a company needs to make a purchase on credit for things such as real estate, inventory, supplies, or services. By signing the agreement, the owner… Continue reading Bankruptcy And The Personal Guarantee