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People get into financial trouble and it allows them a new start. They have it on their credit report for 10 years so they aren't getting away with anything.
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Can you file personal bankruptcy and get a law license?
Yes
What are the basics of bankruptcy law?
Bankruptcy law is when a judge declears that you have the inablity or impairment to pay a debt.creditors may file an involintary bankrupcy to reclaim some of their debt.
What are reasons that one would need to visit a bankruptcy law office?
One reason that one would need to visit a bankruptcy law office is in order to file for bankruptcy. Bankruptcy law helps by giving a "fresh start" for the honest, unfortunate debtors out there.
Can you attend law school if you file bankruptcy?
Your financial status does not affect your ability to attend law school. There should not be any problem.
Is it illegal for a company to pay an invoice that was past due 90 days before they file bankruptcy?
No it is not...It would be between the company and the attorney to decide exactly what gets included in the Bankruptcy depending on the type of Bankruptcy filed. Some require all possessions turned over others allow you to repay at a extremely low percent of the total debt owed. Either case the question says BEFORE you file...That being the case there is no law that states you cannot pay on any account or invoice due under any delinquency before you file Bankruptcy.
Since their clients don't tend to have much money, how do bankruptcy law firms make money?
It costs money to file for bankruptcy. Usually the cost is added on as a credit towards your debt when you file. this site here will give you more information on bankruptcy http://www.boston-bankruptcylawyer.com/article-how-do-bankruptcy-lawyers-make-money.aspx.
Did carol ryser file bankruptcy in kansas?
No. And when you go BK you do so in Federal Court and FEDERAL law...everywhere
Should I file for a divorce before filing chapter 7?
Every case is different, but if the two of you file a joint petition for bankruptcy before the divorce, you will both avoid problems. Consult a lawyer who knows both divorce and bankruptcy law.
If you had bankruptcy in 2004 can you file for bankruptcy again?
Some strict limitations have been set by the new bankruptcy law. Debtors will not be able to file Chapter 7 bankruptcy if they've been through a Chapter 7 within eight years of the new filing. If they want to file for Chapter 13, they will not receive a discharge within two years of a previous Chapter 13 discharge and within four years if they were discharged from a Chapter 7, 11 or 12 bankruptcy.
Can you file Chapter 7 before the new law became effective if you own real estate?
New bankruptcy reform became law in October, 2005.
If you are a landholder on a home and the person files bankruptcy will they be able to include the debt they owe you into the bankruptcy?
They can include it, but the creditor/landholder can file a relief of stay to have the debt excluded from being discharged in the bankruptcy. The decision of what debts are to be discharged are determined by state and/or federal law and the bankruptcy judge.
Can a person with a PA Gaming License File For bankruptcy?
Yes, a person with a PA Gaming License can file for bankruptcy. However, it is important to consult with an attorney who specializes in bankruptcy law and understands the specific regulations and requirements for individuals holding gaming licenses. Filing for bankruptcy may have consequences on the license status, so it is crucial to seek professional legal advice.
