Sentences with phrase «debtor files for bankruptcy protection»

When a debtor files for bankruptcy protection from creditors, not only are debts eliminated, but so are the underlying contracts.

When a debtor files for bankruptcy protection, they list all debts and creditors whom they owe money to, including both secured and unsecured debts.

Why should a small business debtor file for bankruptcy protection under a chapter 11 instead of some other type of bankruptcy?

Not exact matches

So, it is not unusual to get questions about building your credit after a debtor has had to file for bankruptcy protection.

For example, if a debtor's secured debt exceeds $ 1,081,000 and / or combined unsecured debt exceeds $ 360,475, and the debtor wishes to keep delinquent assets, the only viable bankruptcy recourse would be to file for Chapter 11 bankruptcy protectiFor example, if a debtor's secured debt exceeds $ 1,081,000 and / or combined unsecured debt exceeds $ 360,475, and the debtor wishes to keep delinquent assets, the only viable bankruptcy recourse would be to file for Chapter 11 bankruptcy protectifor Chapter 11 bankruptcy protection.

Some advantages bankruptcy protection might offer a bankrupt debtor is that you can obtain an automatic stay which means the mere request for bankruptcy protection automatically stops and brings to a cessation certain lawsuits, foreclosures, utility shut - offs, evictions, repossessions, garnishments, attachments, and debt collection harassment, filing might save your home, you can reschedule secured debts, you can receive protection for co-debtors you can keep all non-exempt property, you can consolidate all your loans under one plan, all or part of your loans may be completely forgiven, and you can extend certain tax obligations, student loans, or other such qualifying debts.

The United States Congress, in an effort to tighten the requirements for bankruptcy and reduce the number of debtors who were able to qualify to have their unsecured debts discharged by filing Chapter 7 bankruptcy, passed the Bankruptcy Abuse and Prevention and Consumer Protection Acbankruptcy and reduce the number of debtors who were able to qualify to have their unsecured debts discharged by filing Chapter 7 bankruptcy, passed the Bankruptcy Abuse and Prevention and Consumer Protection Acbankruptcy, passed the Bankruptcy Abuse and Prevention and Consumer Protection AcBankruptcy Abuse and Prevention and Consumer Protection Act of 2005.

The debtor in this personal bankruptcy illustration is a government employee who fears losing his security clearance and job if he files for bankruptcy, so, he refuses to look into bankruptcy protection as an option.

From time to time, questions from debtors worried about losing their job because they are being forced to file for bankruptcy protection will pop up on bankruptcy forum websites.

Often this means the end of the company, however, even if they file for reorganization bankruptcy rather than a complete protection from debtors and any debts owed.

Filing for bankruptcy protection allows many debtors who are in a financial crisis to discharge or restructure their debts and make a fresh financial start.

Among the new requirements introduced by the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, were the requirements that every debtor seeking to file for bankruptcy protection complete the pre-filing bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, were the requirements that every debtor seeking to file for bankruptcy protection complete the pre-filing bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course Protection Act of 2005, were the requirements that every debtor seeking to file for bankruptcy protection complete the pre-filing bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course bankruptcy protection complete the pre-filing bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course protection complete the pre-filing bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course bankruptcy debtor credit counseling course offered by numerous new US Trustee - approved course providers.

He currently serves as debtor's counsel for Nortel Networks, which filed for bankruptcy protection in January 2009.

Labovitz, 40, joins Debevoise from Kirkland & Ellis, where her notable assignments included serving as debtor's counsel on Chapter 11 cases involving Chemtura Corporation, which filed for bankruptcy protection in 2009 and TOUSA, Inc., which did so in 2008.