Debt Relief: Bankruptcy: Difference between revisions

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-'''Bankruptcy''' occurs when the federal system of statues and courts authorize insolvent individuals or businesses the ability to place their financial affairs under the bankruptcy court's control. When the debtor's exceed his or her ability to pay, the debtor may file a petition with the bankruptcy court for voluntary bankruptcy.
+[[Debt Relief | Debt Relief Home Page]]
+'''Bankruptcy''' occurs when the federal system of statues and courts authorize insolvent individuals or businesses the ability to place their financial affairs under the bankruptcy court's control. When the debtor exceeds his or her ability to pay, the debtor may file a petition with the bankruptcy court for voluntary bankruptcy.
 There are two types of personal bankruptcy: '''Chapter 7''' and '''Chapter 13'''. Chapter 7 bankruptcy and Chapter 13 bankruptcy are legal proceedings that are avaliable to a person to cope with a financial crisis. Personal bankruptcy must be filed in a federal bankruptcy court. You will have to pay a minimial fee for court and attorney costs.
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 *'''Chapter 13 bankruptcy:'''is a court-ordered and approved repayment plan to your creditors.
-The following questions were answered during a telephone interview with Robert M. Matson from the law offices of Akin, Webster, & Mat
+The following questions were answered during a telephone interview with Robert M. Matson from the law offices of Akin, Webster, & Matson, PC Attorney at Law:
-son, PC Attorney at Law:
 ) What is the process of filing for bankruptcy?