Chapter 7 Consumer Bankruptcy
Chapter 7 bankruptcy is a liquidation proceeding. The Debtor turns over all non-exempt property to the bankruptcy trustee, who then converts it to cash for distribution to the creditors.
How Chapter 7 Bankruptcy Works
In Chapter 7 bankruptcy, you provide the court a list of all of your debts and a list of everything [...]
Most states have a very simple sentencing structure for DWI convictions. North Carolina has some very complex penalty structures that allow for mitigating and aggravating factors to increase or decrease the penalties for Driving While Intoxicated.
Being convicted of Driving Under the Influence (DUI) or Driving While Intoxicated (DWI) carries many penalties. Some of these are imposed by the state, such as license suspension, fines or even jail time. One very expensive penalty that is not imposed by the state is losing your car insurance or having your insurance rates greatly increased.
Many car accidents are caused by a driver’s negligence. All drivers are responsible for following the traffic laws, being aware of their surroundings, including road conditions, and for driving defensively to try to avoid accidents. However, there are cases when someone’s negligence makes it impossible to avoid an accident.
Most of the time, insurance agents don’t do a great job at explaining what type of insurance that you should buy. There are many areas that are usually not covered such as limited and full tort, and many more. These are usually very cheap for you, but are not a good deal for insurance companies.
Bankruptcy is not a rare thing in the United States. In fact, due to the struggles that the recession has caused, bankruptcy filing rates have risen to nearly 1.5 million for 2009. There are a few common reasons why someone would file bankruptcy, but the one common factor is that there has been too much [...]
Chapter 13 bankruptcy is a more desirable solution if the debtor has the disposable income to do so. Quite frankly the filing of Chapter 7 may require what is called a “means test” if the debtor’s income is larger than median in the debtor’s filing area. If this test says the debtor can afford to [...]
Whether you are still weighing your circumstances or have decided that bankruptcy is your best option, you should know that not all bankruptcy is created equally. Most people are familiar with Chapter 7 bankruptcy in one respect or another so here it is all summed up.
To begin the process the debtor has to go to [...]
When most people hear the word bankruptcy, they run for the hills screaming. That reaction has far worsened now that America is elbow deep in the throes of the recession and as a result, bankruptcy is a term far more than many Americans are becoming accustomed too. While the situation is not desired or pleasant, [...]
