For many people, Chapter 7 bankruptcy is the preferred option for dealing with debt. In this bankruptcy, unsecured debt is simply wiped away after any and all assets have been seized, liquidated, and the proceeds passed on to creditors. However, since many people in dire financial situations simply have little in the way of assets, […]
St. Louis Bankruptcy Attorney on Chapter 7 Eligibility Read More »
Many people worry when they come to talk to a St. Louis Chapter 7 bankruptcy lawyer that they won’t be able to get a loan for a car when they file for bankruptcy. Maybe they are still making payments on their car and they know it will be repossessed by the bank, or maybe they
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The photography and digital imaging giant Eastman Kodak has again requested that a United States Bankruptcy Judge extend the amount of time it has to emerge from bankruptcy. Kodak is asking that the court extend its deadline to file a bankruptcy exit proposal until May 31st of this year without threat from competing plans and
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By now you’ve likely heard that Hostess, the maker of such iconic snack cakes as Twinkies and Ho Hos, has filed for Chapter 7 bankruptcy. But before you go out and clear the shelves of your favorite treat, a closer look at what is going on with the embattled company is in order. Hostess is
Zombies seem to be popping up everywhere these days, and could even be making an appearance when it comes to your personal finances. With Halloween right around the corner, you may even have seem some Zombies running around your neighborhood asking unsuspecting homeowners for candy. While these kids in costume may seem cute and harmless,
Zombie Debt – What It Is and What You Can Do About It Read More »
The most common types of consumer bankruptcies filed are Chapter 7 or Chapter 13 bankruptcies. Chapter 7 bankruptcies are also known as liquidation bankruptcies, under which a consumer’s non-exempt assets are liquidated and the proceeds used to pay off creditors. Most unsecured debts that are unable to be paid after the liquidation are discharged, and
One question that many people face when considering filing for bankruptcy is whether they will be able to keep their home. Often, a home is the largest investment a person will make in their lifetime, and carries with it emotional, sentimental, as well as financial value. If a person filing for bankruptcy has a family,
Chapter 7 Bankruptcy – Will I Be Able to Keep My Home? Read More »
Many people under financial distress consider bankruptcy as an option to get back on their feet. Under normal circumstances, an individual files either a Chapter 7 or Chapter 13 bankruptcy. Simply put, a Chapter 7 is a liquidation bankruptcy in which a debtor’s non-exempt assets are liquidated and the proceeds from that liquidation are spread
Former Oakland Athletics slugger Jose Canseco filed for Chapter 7 bankruptcy on July 31st of this year in Las Vegas, Nevada. In the filing, Canseco lists assets of $20,850 in personal property, liabilities of $1,685,696.00, and a monthly income of $7,500. Of his liabilities, he lists more than $500,000 as owed to the Internal Revenue
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