Chapter 9 Bankruptcy

Let Us Know About Bankruptcy

Call: 888-297-6203 What is Bankruptcy? If you are looking to reduce or eliminate certain of your debts, bankruptcy is the best option you should choose. You can also provide a timeline on your own to repay the non-dischargeable debts. Even secure debts that are a debt pledged with a real estate property or vehicle as collateral are also repaid. In title 11 of the US code, federal bankruptcy law is there. Under the constitutional grant of authority, Congress passed the bankruptcy code to "established uniform laws on the subject of bankruptcy throughout the United States". The bankruptcy court [...]


The Bankruptcy Code Of The United States

Call: 888-297-6203 Filing for bankruptcy helps the filer by either getting a discharge from most of their debts or by helping them devise a repayment plan to catch up with all the arrears. Bankruptcy can be filed by an individual, a couple, a business, or any such entity. All bankruptcy-related cases are handled by the federal courts, which they abide by, by following the US bankruptcy codes. The different types of bankruptcy include – Chapter 7 and chapter 13 – Individuals can file for bankruptcy under this chapter Chapter 9 – Municipalities like city, towns, schools, taxing districts [...]


All That You Must Know About Bankruptcy Basics

Call: 888-297-6203 The Bankruptcy Code, enacted in 1978 and codified as Title 11 of the United States Code, is the uniform federal law that is empowered to govern all bankruptcy cases. This code has been amended several times. The Bankruptcy Rules govern all the procedures of the Bankruptcy process and are the same for all. In each judicial district of the country, there is a separate bankruptcy court. A state consists of one or more districts. And each bankruptcy court has its own clerk's office. The United States Bankruptcy Judge is the official decision-making power in the court. [...]


A Brief Overview Of Bankruptcy

Call: 888-297-6203 History of Bankruptcy 101 – The initial bankruptcy law was initiated around the 1800s. multiple attempts were made to create and form a bankruptcy law that could encompass a uniform as well as a federal rule. However, after the Nelson Act, a basic platform for the bankruptcy code was set as commonly known and recognized today. This code has helped create multiple ways to help you get rid of bankruptcy. The Six Types of Bankruptcy – There are commonly 6 chapters that are recognized in Bankruptcy, where each has its specific purpose. Chapter 7 Chapter 13 [...]


Eligibility for Chapter 9 Bankruptcy

Call: 888-297-6203 Financial crisis can be a problem that is faced by not just individuals but also municipalities. Getting their finances in order might require some assistance. According to Dallas based bankruptcy law firm Recovery Law Group Chapter 9 bankruptcy is an option available to municipalities to get their finances in order by restructuring their debts. On December 3, 2013, a landmark judgment by U.S. Bankruptcy Judge provided respite to Detroit’s claim for protection under Chapter 9 bankruptcy. The city municipality was relieved of $18 billion debt. According to Judge Steven Rhodes, the filing for bankruptcy and the [...]