Sentences with phrase «second bankruptcy»
"Second bankruptcy" refers to a situation where an individual or a company is facing financial difficulties and declares bankruptcy for the second time. It implies that they have previously gone through a bankruptcy process and are experiencing a similar financial crisis again, indicating that their financial problems have not been fully resolved. Full definition
This is the Register's second bankruptcy, and consequently the fourth among the papers in play in this roll - up.
politico.com
We can detail a long, torturous road that brought the Register to this point, its second bankruptcy in six years.
With Jeep reported to do better than the entire group, FCA needs to act fast if it wants to keep up with the likes of GM, Toyota, and the Volkswagen Group or even avoid facing a second bankruptcy.
That's because there are rules restricting when you can file for a second bankruptcy, which differ depending on the type of filing.
At the end of the first six or seven months of your bankruptcy (or after 21 months if this is your second bankruptcy) your trustee will average out your income, and if your average income is more than $ 200 over the limit set by the government, your bankruptcy is extended for 12 months.
A chapter 13 bankruptcy is the second bankruptcy available to individuals and is also called a wage earner's plan.
I don't want to have to file a second bankruptcy, but I am at a loss as to my next steps.
A chapter 13 bankruptcy is the second bankruptcy available to individuals and is called a wage earner's plan.
In some cases a consumer proposal is a better option than a second bankruptcy, since by filing a proposal you have certainty over what you will be required to contribute during the process.
One choice would be to file a second bankruptcy.
This is extended to 14 years for a second bankruptcy.
Here are some of the implications of a second bankruptcy:
A chapter 13 bankruptcy, known as the wage earner's plan, is the second bankruptcy available to individuals.
If you have surplus income you are bankrupt for a minimum of 21 months, and a second bankruptcy with surplus income lasts for at least three years.
If your bankruptcy attorney is not being helpful you should seek the advice of a second bankruptcy attorney and I'd suggest even paying a consultation fee if they require it.
A second bankruptcy remains on your credit report for 14 years.
A second bankruptcy with surplus income is extended to a total of 36 months.
In April, 2012 the Washington Examiner chronicled A Second Bankruptcy Explosion......
At the end of the first seven months (or later in a second bankruptcy) the trustee will also calculate your average income to determine if you have excess surplus income.