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How long should bankruptcy paperwork be kept?
== Forever ! That sounds extreme, but given the current boom in zombie debt collection, a 20 year old debt included in a bankruptcy could come back to haunt you down the road and you would have to produce proof that the debt WAS included in your bankruptcy to make the collection agencies back off and go away. Keep copies of your complete bankruptcy petition, all schedules, the list of creditors and your discharge letter in a safe deposit box (or similar) and never lose it. If storage is a problem, at the very least scan the entire petition and burn it to a CD and keep IT in a safe and fireproof location.
What strategies were adopted by Xerox to come out from bankruptcy and come to growth?
The Xerox Corporation never went into bankruptcy in the first place, so no strategies were needed to come out of it.
How does being a veterinarian affect your social and family life?
well,,,,,,, it dose not always affect your life if you come home alot and see your family, but on the other hand if you stay at work 24 seven that will affect your life.
When would a company declare bankruptcy?
Different countries and jurisdictions have different legal definitions of bankruptcy for a corporation, but most countries employ one or a combination of the following:Cash flow bankruptcy, where a corporation is unable to pay its debts as they fall due.Balance sheet bankruptcy, where the corporation's assets are worth less than its liabilities.Technical bankruptcy, where a corporation is deemed to be bankrupt regardless of its true financial position, eg. because it failed to pay a judgment debt or (in some jurisdictions) pay a statutory demand for money, or formally admitted or filed for bankruptcy.Even within these definitions, different jurisdictions treat aspects in different ways. For example, in some countries prospective or contingent debts are relevant to determining bankruptcy, and in others they are not. Similarly, some countries require assets to be valued on a market value basis, whereas others are entitled to rely upon book value.
What is a motion for insolvency?
Such a motion is made to a United States Bankruptcy Court, and Article I court under one of the 94 Article III federal District Courts. It is called a Petition for Bankruptcy. Title 11, United States Code, section 301, headed "§ 301. Voluntary cases.": "(a) A voluntary case under a chapter of this title is commenced by the filing with the bankruptcy court of a petition under such chapter by an entity that may be a debtor under such chapter. (b)The commencement of a voluntary case under a chapter of this title constitutes an order for relief under such chapter." Such a petition may only be made by a debtor, described in Title 11, United States Code, section 109, headed "§ 109. Who may be a debtor." A debtor who is either "balance-sheet bankrupt" (where its liabilties are greater than its assets) or who is "not-meeting-its-debts-as-they-come-due bankrupt" can file a voluntary petition. Title 11, United States Code, section 303, headed "§ 303. Involuntary cases." specify the circumstances under which a creditor can file an involuntary petition, in effect, "forcing" the debtor into bankruptcy administration.
I am my mother's legal trustee due to alzheimers I am filing BK will this affect my trustee status?
Question is unclear. Who are you filing bankruptcy for, her, or you? If for her, it should not affect you, personally or financially, in any way. If you are filing bankruptcy for yourself, your status as the trustee of, and your availability to, someone else's assets may come under close scrutiny by the bankruptcy court and your creditors. It they suspect, or can prove, any co-mingling of your assets with that of your mother's, REAL problems could ensue.
If you filled for bankruptcy then modified a mortgage can the mortgage company come after you or will it still be in your bankruptcy?
Great question for your BK attorney
Can you reinstate a dismissed bankruptcy?
If you have come through a bankruptcy you have been through quite a bit. It is important to know that if your bankruptcy was dismissed, it may still be reinstated at a later date.
If one declares BK for the second time how long will it be before the first drops from the credit file if there is almost 7 years between the two?
Bankruptcies come off of your credit report either 10 years or 7 years (depending on which Chapter was filed) after the Order for Relief is issued, and the Order for Relief is issued immediately upon the filing of the petition (signified by the "Relief Ordered" stamped on the front page of the petition upon filing (at least prior to electronic filing, nowadays there is no physical petition to stamp)). Therefore, the first bankruptcy will fall off your credit report 10 years after the date is was filed if it was a Chapter 7, and it will fall off 7 years after the date is was filed if it was a Chapter 13. The subsequent bankruptcy will not affect the date on which the first bankruptcy is removed from your report. To be more direct to the question, if you file the second bankruptcy 6 years after the first one was filed, then you will have 2 bankruptcies on you credit report for 4 years, after which the 10 years for the first bankruptcy will expire and it will be removed, and then you will still have the second bankruptcy on your report for 6 more years (at which time the 10 years runs on it, and it will be removed too). Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts, which I do not warrant, and I am not suggesting any course of action or inaction to any person.
Do student loans automatically come with filing bankruptcy?
Federal Student loans cannot be discharged in bankruptcy. You must repay them.
How long after a bankruptcy can you apply for credit?
Do not worry about applying for credit after bankruptcy. The applications will come to you before the ink on the court documents has dried.
How can you get a judgment off your credit report after filing bankruptcy?
If the debt that you were sued over, or the judgment itself was included in your bankruptcy, you only need send a copy of your bankruptcy papers to the credit reporting agencies. The judgment will not "come off", but it should get marked "included in bankruptcy" or "discharged through bankruptcy".
