In the United States, bankruptcy court is operated as part of the Federal judicial system. However, it is important to understand that every state has their own laws relating to bankruptcy. This created some unbreakable barriers for creditors and debtors when they were dealing with different states. As a result the Federal system was designed [...]
Most people file under chapter 7 bankruptcy law because of the three main reasons:
It is much faster then the other chapters. With a little effort on your side, you can have the entire process over in next four to six months.
It is also simpler to file. No frequent visits to court are required.
There are no [...]
Bankruptcy is not a fun process and it obviously applies when life is not going your way and there is a lot of stress. However, it is a right you have and, if done properly, will provide you with some financial relief. The key is that it must be done properly and strictly in accordance [...]
