Articles Tagged with Chapter 7 bankruptcy

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my car if I file bankruptcy?”

Though no one enjoys the process of filing tax returns, the good news for many is that tax time usually involves a tax refund, providing a nice chunk of change that can be used for other things. For some, this means taking money and splurging on a treat or a vacation. For others, it means paying bills. For another group, it means taking the money and using it to pay bankruptcy fees, escaping debt that has proven too big to maneuver.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a bankruptcy discharge ?”

Early this month the U.S. Supreme Court heard arguments on a case that The New York Times reported has the bankruptcy world “on edge” because it could upend the standard practice that ranks lenders, employees and other creditors in order of priority when they try to recover what they are owed after a company files for bankruptcy.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

In one of the more ironic bankruptcy stories of the year, the filing by the parent company for ITT Technical Institutes has devolved into one of the most paper-heavy affairs imaginable.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my car if I file bankruptcy?”

If you’re in the midst of tough financial times, it isn’t surprising that you might have to consider alternative ways of raising money. Though you may never have thought about pawning your property before, if you have bills that need to be paid it might be one of your only options. Once the item has been pawned you might not think much about it, but a recent bankruptcy case out of Georgia indicates that might not be the end of the story, especially if you want to try and get that property back.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my house if I file bankruptcy?”

We’ve previously discussed the impact that filing bankruptcy can have on some items of personal property, including things like houses and cars. As we mentioned, what and how much you’re able to hold on to typically depends on the type of bankruptcy filed, the value of the items in question and what the bankruptcy exemption rules say on the subject. Another item many people are curious about is jewelry. Whether it’s a family heirloom or a wedding ring, these items can have special sentimental value and the prospect of having to part with them can be very upsetting. To learn more about how jewelry is dealt with in bankruptcy, keep reading.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

If you’re considering filing for bankruptcy, particularly a liquidation bankruptcy under Chapter 7, you are likely eager to understand exactly what property you will be able to hold onto throughout the process. One item you may not think about, but that can prove to be very important, is legal settlements/awards in a personal injury case. It may not occur to you that these could be forfeited in bankruptcy, but depending on your circumstances that is absolutely possible. To learn more about what happens to money won in a personal injury claim, keep reading.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my car if I file bankruptcy?”

Knowing whether or not to file for bankruptcy can be a difficult decision. You will likely need to weigh a variety of factors, including your income, future prospects, total assets, total debts and the impact that filing can have on your life, in both the short term and over the long haul. Another question that many people consider is how filing for bankruptcy can impact their ability to operate as usual, including staying in their house and continuing to drive their current vehicles. To learn more about what happens to your car during Chapter 7, keep reading.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

While earning a salary of over $90,000 as chairman of the Illinois parole board four years ago, Adam Monreal signed numerous sworn documents in his personal bankruptcy proceeding reporting his annual salary as $38, 676.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

Bankruptcy is stressful for anyone who has ever contemplated it. This is even more the case for those who own and operate businesses. Small business owners have to worry about how their financial struggles and potential insolvency could impact not only their personal assets and financial wellbeing, but also how it could impact their ability to earn an income in the future. Small business owners have the added burden of being responsible for the welfare of their employees, something that can heighten an already stressful ordeal.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I buy a home after bankruptcy?”

Everyone knows that bankruptcy is a difficult process. One of the many difficult aspects of the bankruptcy process is deciding how to handle some of your personal property and corresponding debts. Vehicles are especially tricky given that you may not be able to afford the payments on the car, but may also fear being unable to make ends meet without it.