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Some basic questions about bankruptcy
By Tim S

This articles attempts to answer some common questions regarding individual bankruptcy. How does it get started?

Bankruptcy proceeding is usually started when a debtor or debtors file a petition at the bankruptcy court in the district they are domiciled. Filing the petition will put an 'automatic stay' on all other proceedings against the debtor by creditors.

Debtor must also submit lists of all the creditors, assets, and income, and in addition submit a plan of> repayment (in cases other than chapter 7), with or within a short time of, the petition.

Under what chapter should the debtor file for bankruptcy [http://www.bankruptcyhome.com] ?

This depends on what the deb...
[ Read Article ]
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