Financially distressed municipalities, including cities, towns, villages, counties, and school districts, may file for bankruptcy under Chapter 9. Under Chapter 9, there is no liquidation of assets to repay the municipality's debts. Chapter 12 bankruptcy provides relief to "family farmers" or "family fishermen" with regular annual income. Both Chapters 9 and 12 make use of an extended debt repayment plan. Chapter 15 was added in 2005 to deal with cross-border cases which involve debtors, assets, creditors and other parties who may be in more than one country. This type of petition is usually filed in the debtor's home country. 

Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples. Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC). Sole proprietors must use the forms that are numbered in the 100 series. 
It is important to understand that while bankruptcy is a chance to start over, it definitely affects your credit and future ability to use money. It may prevent or delay foreclosure on a home and repossession of a car and it can also stop wage garnishment and other legal actions creditors use to collect debts, but in the end, there is a price to pay.
It can be hard to admit you need help getting out of debt, or that you can't do it alone. But that's why our government has bankruptcy laws to protect not only the creditors, but you! If you have a nerve-racking debt-load, it may be time to face financial facts. Perhaps you've been trying to ignore the ringing phone and the pile of unpaid bills that won't go away.
In Sweden, bankruptcy (Swedish: konkurs) is a formal process that may involve a company or individual. It is not the same as insolvency, which is inability to pay debts that should have been paid. A creditor or the company itself can apply for bankruptcy. An external bankruptcy manager takes over the company or the assets of the person, and tries to sell as much as possible. A person or a company in bankruptcy can not access its assets (with some exceptions).
Another type of cheap bankruptcy is to use a “document preparation” company. Using a “document preparation” company to file bankruptcy may actually be worse than filing alone. California bankruptcy attorneys in Burbank are regulated by the State Bar of California. A “document preparation” company regulates itself. We have seen clients that have experienced unimaginable nightmares with “document preparation” companies. It’s not uncommon for these companies to have no knowledge of bankruptcy law, perform shoddy work and charge their clients relentless hidden fees. And you may be surprised to learn that “document preparation” companies are forbidden from giving legal advice. If you cannot get legal advice on your bankruptcy, what is the point of paying someone to do it?
Before a consumer may obtain bankruptcy relief under either Chapter 7 or Chapter 13, the debtor is to undertake credit counselling with approved counseling agencies prior to filing a bankruptcy petition and to undertake education in personal financial management from approved agencies prior to being granted a discharge of debts under either Chapter 7 or Chapter 13. Some studies of the operation of the credit counseling requirement suggest that it provides little benefit to debtors who receive the counseling because the only realistic option for many is to seek relief under the Bankruptcy Code.[45]
Chapter 7 means the court sells all your assets—with some exemptions—so you can pay back as much debt as possible. The remaining unpaid debt is erased. You could lose your home (or the equity you’ve put into it) and your car in the process, depending on what the court decides. You can only file Chapter 7 bankruptcy if the court decides your income is too low to pay back your debt. This type of bankruptcy stays on your credit report for 10 years.
It is important to understand that while bankruptcy is a chance to start over, it definitely affects your credit and future ability to use money. It may prevent or delay foreclosure on a home and repossession of a car and it can also stop wage garnishment and other legal actions creditors use to collect debts, but in the end, there is a price to pay.
Debtors do not necessarily have the right to a discharge. When a petition for bankruptcy has been filed in court, creditors receive a notice and can object if they choose to do so. If they do, they will need to file a complaint in the court before the deadline. This leads to the filing of an adversary proceeding to recover monies owed or enforce a lien.
Affordable debt relief in Glendale, Arizona is only a phone call away.  Call our Arizona bankruptcy attorneys today.  Are you struggling to make ends meet in Glendale or Avondale, Arizona?  Do calls from creditors seem to be never-ending?  Are you scared to get your mail because of all the demanding and late bills?  If your financial situation seems hopeless, contact our dedicated Glendale bankruptcy attorneys today and find out how easy it is to get on the road to a “Fresh Start.”
In 2011, the Superintendent of bankruptcy reported that trustees in Canada filed 127,774 insolvent estates. Consumer estates were the vast majority, with 122 999 estates.[26] The consumer portion of the 2011 volume is divided into 77,993 bankruptcies and 45,006 consumer proposals. This represented a reduction of 8.9% from 2010. Commercial estates filed by Canadian trustees in 2011 4,775 estates, 3,643 bankruptcies and 1,132 Division 1 proposals.[27] This represents a reduction of 8.6% over 2010.
Our Glendale, Arizona debt relief experts offer free consultations.  Call us today and find out what types of debt relief are available to you and your family.  Let our low priced bankruptcy lawyers in Glendale explain the difference between Chapter 7 bankruptcy and Chapter 13 bankruptcy.  Our Glendale and Avondale bankruptcy offices offer some of the lowest legal fees on all of our bankruptcy filings.  Compare our rates, we know our bankruptcy fees are the lowest!  Find Arizona’s best bankruptcy lawyers.
Generally, I start with an initial telephone consultation. Then if you want to move forward, we schedule an in-person conference at my office to go over the legal services agreement and your documents and for you to make the first payment. After that I represent you against your creditors until you are paid in full and then about two weeks after that I file your case.  

Individuals or businesses with few or no assets file Chapter 7 bankruptcy. The chapter allows individuals to dispose of their unsecured debts, such as credit cards and medical bills. Individuals with nonexempt assets, such as family heirlooms (collections with high valuations, such as coin or stamp collections), second homes, cash, stocks, or bonds, must liquidate the property to repay some or all of their unsecured debts. So, a person filing Chapter 7 bankruptcy is basically selling off his or her assets to clear debt. Consumers who have no valuable assets and only exempt property, such as household goods, clothing, tools for their trades, and a personal vehicle up to a certain value, repay no part of their unsecured debt.

Financially distressed municipalities, including cities, towns, villages, counties, and school districts, may file for bankruptcy under Chapter 9. Under Chapter 9, there is no liquidation of assets to repay the municipality's debts. Chapter 12 bankruptcy provides relief to "family farmers" or "family fishermen" with regular annual income. Both Chapters 9 and 12 make use of an extended debt repayment plan. Chapter 15 was added in 2005 to deal with cross-border cases which involve debtors, assets, creditors and other parties who may be in more than one country. This type of petition is usually filed in the debtor's home country.
Your lawyer will probably have you fill in a questionnaire about your property, debts, expenses and income. A good lawyer will be able to determine quickly what kinds of debts will be dischargeable in bankruptcy. The lawyer should advise you to get credit counseling before you file, and will may even have a computer terminal in their office where you can do the counseling right there, online. Many lawyers have preferred credit counselors that they work with. 

Tax refunds you are entitled to receive are considered property in bankruptcy just like money in your bank account. You must disclose any anticipated tax refunds as an asset on your bankruptcy schedules. This means that if you want to keep your refund, you must be able to exempt it. If you can exempt your tax refund in Chapter 7 bankruptcy, you can keep it. 
Chapter 15: Chapter 15 applies to cross-border insolvency cases, in which the debtor has assets and debts both in the United States and in another country. This chapter was added to the bankruptcy code in 2005 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act. Chapter 15 cases start as insolvency cases in a foreign country and make their way to the U.S. Courts to try and protect financially troubled businesses from going under. The U.S. courts limit their scope of power in the case to only the assets or persons that are in the United States.
Debtors do not necessarily have the right to a discharge. When a petition for bankruptcy has been filed in court, creditors receive a notice and can object if they choose to do so. If they do, they will need to file a complaint in the court before the deadline. This leads to the filing of an adversary proceeding to recover monies owed or enforce a lien.
In some countries, such as the United Kingdom, bankruptcy is limited to individuals; other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings. In some countries, such as in Finland bankruptcy is limited only to companies and individuals who are insolvent are condemned to de facto indentured servitude or minimum social benefits until their debts are paid in full, with accrued interest except when the court decides to show rare clemency by accepting a debtors application for debt restructuring, in which case an individual may have the amount of remaining debt reduced or be released from the debt.[citation needed][15] In France, the cognate French word banqueroute is used solely for cases of fraudulent bankruptcy, whereas the term faillite (cognate of "failure") is used for bankruptcy in accordance with the law.[16]
Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples. Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC). Sole proprietors must use the forms that are numbered in the 100 series.  

In Chapter 7, a debtor surrenders non-exempt property to a bankruptcy trustee, who then liquidates the property and distributes the proceeds to the debtor's unsecured creditors. In exchange, the debtor is entitled to a discharge of some debt. However, the debtor is not granted a discharge if guilty of certain types of inappropriate behavior (e.g., concealing records relating to financial condition) and certain debts (e.g., spousal and child support and most student loans). Some taxes are not discharged even though the debtor is generally discharged from debt. Many individuals in financial distress own only exempt property (e.g., clothes, household goods, an older car, or the tools of their trade or profession) and do not have to surrender any property to the trustee.[43] The amount of property that a debtor may exempt varies from state to state (as noted above, Virginia and Maryland have a $1,000 difference.) Chapter 7 relief is available only once in any eight-year period. Generally, the rights of secured creditors to their collateral continues, even though their debt is discharged. For example, absent some arrangement by a debtor to surrender a car or "reaffirm" a debt, the creditor with a security interest in the debtor's car may repossess the car even if the debt to the creditor is discharged.
How to File for Chapter 7 Bankruptcy provides clear, user-friendly information and all the forms you need to get through the entire bankruptcy process. The book and the local resources you'll find on LegalConsumer.com are a perfect combination. The book is designed to work with LegalConsumer.com's means test calculator and lists of Pennsylvania exemption laws, which determine what property you'd get to keep in bankruptcy.
Bankruptcy in the United Kingdom (in a strict legal sense) relates only to individuals (including sole proprietors) and partnerships. Companies and other corporations enter into differently named legal insolvency procedures: liquidation and administration (administration order and administrative receivership). However, the term 'bankruptcy' is often used when referring to companies in the media and in general conversation. Bankruptcy in Scotland is referred to as sequestration. To apply for bankruptcy in Scotland, an individual must have more than £1,500 of debt.
The benefit of having Affordable Documents provide and prepare the needed paperwork for bankruptcy is that it gives you the help that you need to properly file for this debt eliminating status. Bankruptcy can be used to give yourself a fresh new start when it comes to un-payable debts that can enslave you for life without this option. If you want to get out of debt and file for bankruptcy the right way, let Affordable Documents help you as we can provide and prepare all of the necessary paperwork for you. Contact us today for a consultation if you are considering filing for bankruptcy.
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