Gourt > Society > Law > Legal Information > Bankruptcy (3)
Bankruptcy is a legally declared inability or impairment of ability of an individual or organization to pay their creditors. A declared state of bankruptcy can be requested by creditors in an effort to recoup a portion of what they are owed; however, in the overwhelming majority of cases, the bankruptcy is initiated by the bankrupt individual or organization.
Purpose
The primary purpose of the laws of bankruptcy are: (1) to give an honest debtor a "fresh start" in life by relieving the debtor of most debts, and (2) to repay creditors in an orderly manner to the extent that the debtor has the means available for payment.
Bankruptcy allows debtors to resolve debts through the division of non-exempt assets among creditors. Additionally the declaration of bankruptcy allows debtors to be discharged of most of the financial obligations, after their non-exempt assets are distributed, even if their debts have not been paid in full. During the pendency of a bankruptcy proceeding, the debtor is protected from extra-bankruptcy action by creditors by a legally imposed stay. The creditor will not be permitted to continue lawsuits, garnish wages, or contact the debtor by phone to demand payment.
More on [ Bankruptcy ]
Bankruptcy :: Financial Services
YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy: The shares declined 7 cents, or 6.8 percent, to 94 c... http://bit.ly/7QZhFI
moneymoolahcash (Mr Finance) Fri, 18 Dec 2009 08:50:47 -0000
YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy: The shares declined 7 cents, or 6.8 percent, to 94 c... http://bit.ly/7QZhFI
Airline unions ask House panel for changes in bankruptcy law http://twa.lk/uR2Ql
travel_1 (Travel) Fri, 18 Dec 2009 08:50:07 -0000
Airline unions ask House panel for changes in bankruptcy law http://twa.lk/uR2Ql
In the financial world using big words can scare away stupid people, e.g. repossession, foreclosure, bankruptcy, etc... #slappyism #funny
SlappNuttz (SlappNuttz) Fri, 18 Dec 2009 08:47:11 -0000
In the financial world using big words can scare away stupid people, e.g. repossession, foreclosure, bankruptcy, etc... #slappyism #funny
YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy http://bit.ly/680mld
LeadsExplosion (LeadsExplosion) Fri, 18 Dec 2009 08:46:44 -0000
YRC Has Until Yearend to Corral Bondholders, Avert Bankruptcy http://bit.ly/680mld
Vocabulaire : "bankrupt" = ruiné, en faillite. "bankruptcy" = banqueroute.
Anglais_Cours (AnglaisCours) Fri, 18 Dec 2009 08:41:03 -0000
Vocabulaire : "bankrupt" = ruiné, en faillite. "bankruptcy" = banqueroute.
http://bit.ly/6foFtB Huffpost - Feminomics: Women and Bankruptcy
trampstudios (Keenan Powell) Fri, 18 Dec 2009 08:40:00 -0000
http://bit.ly/6foFtB Huffpost - Feminomics: Women and Bankruptcy
Advertisements Promising Debt Relief May Be Offering Bankruptcy - Consumer alert from the Federal Trade Commission, pointing out that some offers to consolidate or eliminate debts may involve bankruptcy, which has serious long-term consequences.
Meta Description: [ Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. ]
American Bankruptcy Institute - News, statistics, legislative updates, directories of professionals, and information on filing for bankruptcy.
Bankruptcy Forms - Downloadable forms for United States bankruptcy courts.
BankruptcyData.Com - Bankruptcy reference source, containing information on publicly traded companies with total assets of at least ten million.
Meta Description: [ Providing bankruptcy and distressed securities research
on distressed organizations in Chapter 11, Chapter 7, reorganization,
insolvency, default, business bankruptcy, liquidation, and junk bonds. ]
bkinformation.com - Information for businesses about chapter eleven bankruptcy.
Filing for Individual Bankruptcy - Consumer guide to bankruptcy, from the Association of the Bar of the City of New York.
Meta Description: [ Organization of over 22,000 lawyers dedicated to improving the administration of justice and promoting the study of law. Provides career development and networking opportunities for our members, while offering continuing legal education and pro bono opportunities for members of the profession. ... ]
Moran Law Group - An overview of consumer and business bankruptcy law
Meta Description: [ Guide to bankruptcy for individuals and creditors, including alternatives to bankruptcy, how to file bankruptcy, preserving your rights as a creditor, support and marital law and getting relief from taxes in bankruptcy ]
NACBA - National Association of Consumer Bankruptcy Attorneys - Organization that is run by and for the benefit of consumer bankruptcy attorneys and their clients.
Meta Description: [ NACBA is the only national organization dedicated to serving the needs of consumer bankruptcy attorneys and protecting the rights of consumer debtors in bankruptcy. ]
No Remedy for the Financial Havoc Illness Can Create - Describes how even an insured family can be forced into bankruptcy by a medical crisis.
Nolo - Articles and information on bankruptcy and its alternatives.
Meta Description: [ Decide whether Chapter 7 or Chapter 13 bankruptcy is for you, and keep your home and car while getting creditors off your back. ]
| US Government Immorality Will Lead to Bankruptcy | |
| Next Video | |
