PERSONAL FINANCIAL INFORMATION A detailed listing of all assets, including real property, is the first step in any bankruptcy. It is important to list all outstanding debts, as well as those in good standing. The total debt is still important in bankruptcy cases, even though bankruptcy protection may be required by one creditor or factor. […]
Bankruptcy is a federal debt relief process that allows individuals, businesses, or farmers to obtain federal protection for elimination or reduction of their debts. (A debtor may also repay all of their debts under revised repayment terms as well.) There are two main types of bankruptcy – re-organization and liquidation. Chapter 7, which is a […]