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What else can I help you with?
How often can you declare Chapter 7 bankruptcy?
You can declare Chapter 7 bankruptcy once every 8 years.
What is the process on how to declare bankruptcy?
First consult a lawyer for which bankruptcy chapter you qualify for and let him/her assist you with the bankruptcy procedures as bankruptcy procedures are not the same in every case. Chapter 7 and Chapter 13 bankruptcies are the most common. For more information, visit these websites: http://howtodeclarebankruptcy.net/ and filepersonalbankruptcy.org/how-to-declare-bankruptcy/.
What type of bankruptcy did General Motors declare?
Chapter 11.
Can you just declare bankruptcy on your home?
No. You do not "declare bankruptcy" ON anything. You declare bankruptcy when you cannot pay your bills as they come due. You must list all your assets and all your debts. What happens after that depends on which title you are filing under, chapter 7, 11, 12 or 13.
Did Lucent Technologies ever declare Chapter 11 bankruptcy?
no, they merged with a french company alcatel.
Can you declare bankruptcy now that your first bankruptcy is discharged?
It depends on the chapter you filed under. If you filed under Chapter 7, you have to wait 8 years before filing again. If you filed under Chapter 13, you only have to wait four years.
Can you work after you declare bankruptcy?
Yes, you are not required to be unemployed to declare bankruptcy.
The Bankruptcy Abuse and Prevention and Consumer Protection Act limited the number of debtors who could declare which type of bankruptcy?
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) of 2005 primarily limited the number of debtors who could declare Chapter 7 bankruptcy. The act introduced a means test to determine eligibility, making it more difficult for higher-income individuals to file for Chapter 7 and forcing many to seek Chapter 13 bankruptcy instead. This shift aimed to reduce perceived abuses in the bankruptcy system and encourage debtors to repay a portion of their debts.
Why did the attorney tell us it would be seven years for a Chapter 7 bankruptcy?
By law, a person (or couple) can only declare bankruptcy every seven years. If you go through with a Chapter 7 bankrupcy, it will take 7 years for it to rotate off of your credit history.
Did the US declare bankruptcy?
No
Is it possible to just declare bankruptcy on credit cards?
You can declare bankruptcy due to credit card debts, yes.
When is it necessary to declare bankruptcy?
It is necessary to declare bankruptcy when a person cannot afford to continue paying for bills and other things they need. A person may declare bankruptcy if their business is not making any money.
