There are several types of bankruptcy depending on who you are and what type of bankruptcy you want to file. The types of bankruptcy you will have heard of are shown below.
There are two types of bankruptcy that can be classified as personal bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Each bankruptcy filing in the US is filed at a US bankruptcy court. The US bankruptcy court has many offices located throughout the United States.
The new bankruptcy laws make it somewhat harder for many people to file bankruptcy. Read the amendments of the bankruptcy laws below.
From time to time, you may need to dig up bankruptcy records of a person or a business who may have filed bankruptcy. You may also want to know that if you file for bankruptcy, what bankruptcy records will there be of your bankruptcy case.
Believe it or not, when you file for bankruptcy, you are getting bankruptcy protection. The bankruptcy laws actually help debtors who file for bankruptcy protection get back on their feet again.
Most people dread bankruptcy hearing. Most people fear what might happen in their bankruptcy hearing. However, most of the time, things are not as bad at a bankruptcy hearing as they had imagined.
The new personal bankruptcy laws went into effect in 2005 making personal bankruptcy laws tougher than every before for people to seek personal bankruptcy protection under the Chapter 7 personal bankruptcy or Chapter 13 personal bankruptcy.
The Homestead exemption laws were affected when the new bankruptcy laws were introduced. The Homestead exemption laws differ from state to state.
Is it possible to get credit cards after bankruptcy? There is not bankruptcy laws on getting credit cards after bankruptcy. You do not have to wait for a certain period of time to apply for and obtain credit cards after bankruptcy.
The old bankruptcy laws were not as strict as the new bankruptcy laws. Under the old bankruptcy laws, many more people were able to file for bankruptcy protection even when they did not need to or only file for bankruptcy protection to get out of paying debts.
The trustee will initially examine all the assets and determine which assets are exempt and which are not. If the trustee does not find any assets then he or she is likely to just move on and classify the bankruptcy case as having no assets.