There are six types of bankruptcy under the Bankruptcy Code, located at Title 11 of the United States Code: Chapter 7: basic liquidation for individuals and […]
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- Author :The Peck Law Group
Challenging Exemptions Under The United States Bankruptcy Code
11 U.S.C. § 522(d)(11)(D) reads as follows: § 522. Exemptions (d) The following property may be exempted under subsection (b)(2) of this section: (11) The debtor’s […]
- Author :The Peck Law Group
Bankruptcy: The Constitutional Avenue to Settle Debt
Bankruptcy in the United States is a constitutionally (Article 1 Section 8, Clause 4 to be exact) approved way for business entities and individuals to settle […]
- Author :The Peck Law Group
U.S Bankruptcies are Still Growing
US BUSINESS bankruptcies rose again in last month, marking the fifth-straight February that such filings have increased, according to a bankruptcy data provider on Tuesday. Companies […]
- Author :The Peck Law Group
Take Steps to Protect Your Personal Assets When Contemplating Bankruptcy
If your business is in the red, take steps to protect your personal assets. If your business is in distress — you owe a lot of […]
- Author :The Peck Law Group
Bankruptcy Reaffirmation Agreements Must Be Timely Filed
Under the Federal Rules of Bankruptcy Procedure, reaffirmation agreements “shall be filed no later than 60 days after the first date set for the meeting of […]
- Author :The Peck Law Group
The Federal Bankruptcy “Means Test”
The most noteworthy change brought by the 2005 BAPCPA amendments occurred within 11 U.S.C. § 707(b). The amendments effectively subject most debtors who have an income, […]
- Author :The Peck Law Group
Chapter Seven Individual Bankruptcy An Overview
Individuals who reside, have a place of business, or own property in the United States may file for bankruptcy in a federal court under Chapter 7 […]
- Author :The Peck Law Group
Chapter Seven Business Bankruptcy An Overview
When a troubled business is badly in debt and unable to service that debt or pay its creditors, it may file (or be forced by its […]
- Author :The Peck Law Group
A Bankrupt GMAC Could Cost the Government $ 50 Billion
Bankruptcy for GMAC Inc., the auto and home lender majority owned by the U.S. government, would have cost the government as much as $50 billion, the […]
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