Bankruptcy

August 19, 2013

What is Chapter 11 Bankruptcy

Each state has its own way of handling bankruptcies and has their own provisions. This is why it is important to visit with a local legal professional who can help you come to an understanding of the laws and guidelines concerning bankruptcies. For those who live inLivingston,New Jersey then they should contact a bankruptcy lawyer in NJ. Most of the differences between states have to do with limits pertaining to debts and income levels which have to be met in […]
August 15, 2013

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is generally filed to eliminate unsecure debt. A corporation, married couple, partnership or an individual can file for this type of bankruptcy. It typically discharges debts such as medical bills, personal loans and credit cards. In some cases, even though the Chapter 7 will free an individual from their debts, there are some types of property that they may be able to keep. They will just have to make arrangements which will reaffirm the debt. For most […]