There are three types of bankruptcy that a business may file for depending on its structure. Sole proprietorships are legal extensions of the owner. The owner is responsible for all assets and liabilities of the firm. A sole proprietorship can take bankruptcy by filing for Chapter 7, Chapter 11, or Chapter 13.
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File for Chapter 7 or 13 bankruptcy. You must file for bankruptcy before your student loans can be discharged. Your attorney can help determine the type of consumer bankruptcy that’s best for.
Pre-bankruptcy credit counseling and pre-discharge debtor education may not be provided at the same time. credit counseling must take place before you file for bankruptcy; debtor education must take place after you file.
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Blackhawk Mining, LLC., a coal company with 2,800 employees in Kentucky and West Virginia, plans to file for Chapter 11.
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Filing your bankruptcy petition is as simple as taking your completed bankruptcy forms to the Bankruptcy Court in your district. Most courts will allow you to mail in your bankruptcy petition while others require you to deliver in person. Either way you will be required to pay the court’s filing.
Filing for bankruptcy is a legal process that either reduces, restructures or eliminates your debts. Filing bankruptcy with a court is the first step. You can file on your own or you can file with an attorney.
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Bankruptcy is a legal proceeding in which an individual who cannot pay his or her bills can get a fresh financial start. The right to file for bankruptcy is provided by federal law, and all bankruptcy cases are handled in federal court.
In reality, that doesn’t always happen. Once a company finds itself unable to pay its outstanding debts, it has the option to file for bankruptcy — which could really hurt investors like you. Here,
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Individuals file for bankruptcy and often emerge in one piece, too. Bankruptcy is poorly understood, so let's talk about how it affects your.