Are you considering bankruptcy? If so, you need to speak with a qualified bankruptcy lawyer as soon as possible. Bankruptcy can provide a fresh start for people who are struggling financially. There are two main types of bankruptcy: Chapter 7 and Chapter 11. Each one has its own benefits and drawbacks. Personal bankruptcy is a serious decision, and you need to make sure you understand all the implications before making a final decision. In this blog post, we will discuss the basics of personal bankruptcy law in the United States.
When you file for bankruptcy, your assets are divided into two categories: exempt and non-exempt. Exempt assets are protected from seizure by creditors, while non-exempt assets can be seized to pay off debts. The vast majority of people who file for bankruptcy choose Chapter Seven, which is known as a "liquidation" bankruptcy. In a Chapter Seven bankruptcy, your non-exempt assets are sold off to pay off your debts. The proceeds from the sale of these assets are then used to pay back your creditors.
Chapter Eleven is known as a "reorganization" bankruptcy. In a Chapter Eleven bankruptcy, you keep all of your assets, but you must agree to repay your debts over a period of time. This type of bankruptcy is usually reserved for businesses or individuals who have a lot of debt but also a lot of assets.
If you are considering bankruptcy, it is important to speak with an experienced lawyer who can help you understand your options. Bankruptcy is not right for everyone, but it can provide a fresh start for people who are struggling financially. Contact a bankruptcy lawyer today to learn more about your options.
Bankruptcy Lawyers: The Basics
When you file for personal bankruptcy in the United States, there are two main types of bankruptcies to choose from: Chapter Seven and Chapter Eleven. In a Chapter Seven bankruptcy, all of your
It is important to understand how many applications a company has received and how the application process works. Our securities lawyers can better advise each client as well as to help ensure that any disclosure documents are accurate and complete. At our law firm, the securities attorneys understand that there is a difference. Receiving too many or too few applications can impact your decisions. Let us help you through the process!
The date of the admission notification letter will vary depending on a few factors such as when your application was completed and if you applied Early Action or Regular Decision. Typically, decisions are released in mid-March for Early Action applicants and in late April for Regular Decision applicants. However, we cannot guarantee when notifications will be sent out. If you have not received any decision by May 15th, we encourage you to reach out to our office.
The securities attorneys at our law firm are experienced in advising clients on all aspects of the financial assistance process. We can help you determine which financial assistance is available to you and assist with the application process. Our goal is to ensure that you receive the best possible advice and representation throughout the entire financial assistance process. Contact us today for more information.