Wednesday, March 25, 2009
An article from Kentucky about Chapter 13…
Simply put, they agree to a not-necessarily-easy payment plan. They pay a third party — a trustee — who in turn makes creditors as happy as possible. In 17 years on the bench, Lorch has obviously come to know who seeks shelter under Chapter 13.
Click here for the full [...]
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Wednesday, January 14, 2009
According to this article, chapter 13 bankruptcy filings increased (along with other types of bankruptcy) in Vermont last year:
chapter 13 bankruptcy cases increased from 234 to 315 last year, a jump of 35 percent.
http://www.timesargus.com/article/20090102/NEWS01
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Thursday, December 18, 2008
Generally speaking, there are 3 main types of bankruptcy:
Chapter 11: Corporate Reorganization.
Chapter 13: Consumer Reorganization
Chapter 7: Liquidation- both Corporate & Consumer.
Therefore, for most people looking to file for bankruptcy, they file for Chapter 7 in order to discharge some of their unsecured debts.
Look on the left hand collumn for our extensive posts on Chapter 7 [...]
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Introduction to Bankruptcy Chapter 13
“Creditors have better memories than debtors.” – Benjamin Franklin
Chapter [...]
Thursday, September 11, 2008
A long time ago, some countries would put debtors in prison if they didn’t pay back their debts.
Do they exist now? Not officially in the U.S.
But, this Business Week article posits that there may be “debt prisoners” today depending on how you look at it.
Click here to read the article.
http://www.businessweek.com/
Read it for yourself and see [...]
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