Sentences with phrase «liquidation bankruptcy»

A Chapter 7 personal bankruptcy filing is also known as liquidation bankruptcy.

Chapter 7 — also called liquidation bankruptcy — eliminates your general unsecured liabilities such as credit card debts, personal loans and medical bills.

Chapter 7 bankruptcy is known as asset liquidation bankruptcy, or simply straight bankruptcy.

Indeed, the assets held by Mt. Gox when it entered liquidation bankruptcy included some 202,000 BTC, which now have a worth at today's rate much higher than the sum of all non-erroneous claims filed against Mt. Gox,» wrote Karpeles.

Debt is cheaper than equity, given debtholders are paid first in the hierarchy of a hypothetical liquidation bankruptcy scenario.

In a move to force more debtors into a Chapter 13 Wage Earner repayment plan, instead of allowing for a straight liquidation bankruptcy under Chapter 7, the trustee or any creditor can bring a motion to dismiss a Chapter 7 application if the debtor's income is greater than the state median income.

Exempt assets in a Chapter 7 liquidation bankruptcy usually include:

creditors» committees, landlords, and purchasers of distressed assets as well as trustees in numerous reorganization and liquidation bankruptcy cases.

Learn more about liquidation bankruptcy today.

Chapter 7 bankruptcy is known as liquidation bankruptcy.

• Chapter 7 Bankruptcy — Also known as a liquidation bankruptcy, a Chapter 7 bankruptcy will discharge most debts in a few months after filing, but the record of the bankruptcy itself usually remains active on a credit report for 10 years.

Since in this liquidation bankruptcy your creditors can stake claim on your properties, make sure that you don't have assets that are valuable enough for the creditors to file against.

With Chapter 7, often referred to as a «straight bankruptcy» or «liquidation bankruptcy,» consumers have the opportunity to discharge their unsecured debts, such as credit card debt, medical bills, and mortgage debts.

Chapter 7 is a liquidation bankruptcy (as opposed to a reorganization in Chapter 13), and one of a few options you can use to help take control of your debt.

Chapter 7, also known as a liquidation bankruptcy, is when your property is sold to cover the debt.

Chapter 7 Bankruptcy is considered a liquidation bankruptcy and nonexempt assets are generally liquidated and qualifying unsecured debts are discharged.

Chapter 7 bankruptcy is often referred to as a straight bankruptcy, consumer bankruptcy, or liquidation bankruptcy.

Chapter 7 bankruptcy, also known as a liquidation bankruptcy, discharges your debts in a relatively short period of time.

Chapter 7 bankruptcy, also called a «liquidation bankruptcy,» sells all non-exempt business assets to and distributes money to creditors, then closes the business.

Chapter 7, the most common form of bankruptcy in America, is also known as a liquidation bankruptcy.

Chapter 7 bankruptcy is called a liquidation bankruptcy because it allows a court - appointed bankruptcy trustee to be appointed to your case, gather your nonexempt assets, and liquidate them to repay your qualifying creditors.

Chapter 7 bankruptcy, also known as «liquidation bankruptcy», is available for individuals and / or corporations.

Liquidation bankruptcies are called «Chapter 7» and reorganization bankruptcies are known as «Chapter 13» (because of the section of federal law these are found in).

A chapter 7 bankruptcy is often referred to as a «straight bankruptcy» or a «liquidation bankruptcy».

It is considered a liquidation bankruptcy, allowing debtors to sell certain assets and use the proceeds from the sale to repay their creditors.

Bankruptcy attorneys file bankruptcy, themselves, both Chapter 13 payment plan bankruptcies, or Chapter 7 liquidation bankruptcies, more often than we get million dollar fees.

The most common form of bankruptcy for individuals is Chapter 7, also known as «liquidation bankruptcy.»

There are two major types of bankruptcy: Chapter 7 bankruptcy — often referred to as liquidation bankruptcy — and Chapter 13 bankruptcy — often referred to as reorganization bankruptcy.

Unfortunately, after the passage of the Bankruptcy Reform Act in 2005, it became harder to qualify for a liquidation bankruptcy, and there is now more complexity to an already intimidating process.

Chapter 13, in contrast to a liquidation bankruptcy, is a reorganization bankruptcy; this means that some of your debts will be prioritized as more important than others (priority debts, such as taxes and child support) and will be paid first.

It's known as «liquidation bankruptcy» because the trustee will liquidate non-exempt assets.

It is, however, called a liquidation bankruptcy, which means it allows a court - appointed trustee to accumulate your nonexempt assets and sell them to generate funds to repay certain creditors.

A Chapter 7 (sometimes called a «liquidation bankruptcy») is a bankruptcy in the common parlance of layman's terms.

In Chapter 7 («Liquidation bankruptcy»), debtors will surrender their property over to a case attorney.

In New York, you can file under chapter 7 (also known as liquidation bankruptcy), chapter 9 (only for municipalities and governmental units), Chapter 12 (only for those who qualify as family farmers), chapter 13 (debt repayment chapter) and Chapter 11 (reorganization chapter available to businesses and individuals who have substantial assets or income).

Some people refer to Chapter 7 as «liquidation bankruptcy» because it discharges most of your unsecured debt.

It is liquidation bankruptcy, the intended result of which is a discharge and forgiveness of debt.

This is a common misconception about Chapter 7, often because it is also known as «liquidation bankruptcy.»

Chapter 7 bankruptcy allows the debtor to obtain a «fresh start» and is sometimes referred to as «liquidation bankruptcy.»

Chapter 7 bankruptcy is also often called «personal bankruptcy» or a «liquidation bankruptcy».