Bankruptcy is a legal status of a person or other entity that cannot repay the debts it owes to creditors. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the debtor.Bankruptcy is not the only legal status that an insolvent person or other entity may have, and the term bankruptcy is therefore not a synonym for insolvency. In some countries, including the United Kingdom, bankruptcy is limited to individuals, and other forms of insolvency proceedings (such as liquidation and administration) are applied to companies. In the United States, bankruptcy is applied more broadly to formal insolvency proceedings.
Posts about Bankruptcy
  • St. Charles & St. Louis Residents: Should You File Chapter 7 or Chapter 13?

    …St. Charles & St. Louis Residents: Should You File Chapter 7 or Chapter 13? Once you have made the decision to file for bankruptcy sometimes the hardest decision is whether you should file Chapter 7 or Chapter 13. The goal of this article is to make this decision easier for you. We will outline the pros and cons of both Chapter 7 and Chapter… 12 readers -
  • Bankruptcy Training Given to Legal Services of Alabama in Montgomery

    … I had the privilege of giving a Continuing Legal Education seminar on bankruptcy to Montgomery’s Legal Services of Alabama. Currently, there are no attorneys trained in handling bankruptcy cases in the Montgomery office. Some attorneys have a general idea of how bankruptcy works but were reluctant to take on any cases without current training…

    Gail Donaldson/ Bond and Botes- 12 readers -
  • Property Transfers and Bankruptcy

    … The transfer or sale of property is one of the most common topics I discuss with potential clients. I’d like to take the opportunity to discuss this issue in this blog and hopefully provide answers to some common questions. What Property Transfer Includes When an individual files for bankruptcy relief, he or she is require to disclose…

    Nick Gajewski/ Bond and Botes- 12 readers -
  • F-35A’s Coming to Montgomery

    … program, I was excited for the possibilities for the future of Montgomery. Any time there is a new industry to a community, there will be opportunities for an economic impact. The 187th Fighter Wing will receive the latest fighter jet to replace its F-16 jets. The Air Force expects the F-35A’s to begin arriving in early 2023. The decision came…

    Gail Donaldson/ Bond and Botes- 11 readers -
  • Bankruptcy During Tax Time—Can You Keep Your Refund?

    …Bankruptcy During Tax Time—Can You Keep Your Refund? For many taxpayers, an annual refund is an important part of financial planning for the entire year. This can make it difficult to plan for bankruptcy. Tax refunds can be an asset subject to the liquidation powers of the bankruptcy court. However: with careful planning, a tax refund can… 11 readers -
  • Using Chapter 13 Bankruptcy to Prevent Foreclosure

    … Bankruptcy can meet your financial goals in many different ways. To access the debt relief tools that are right for them, however, debtors must identify the specific problems they wish to address. An experienced Missouri bankruptcy attorney can help debtors find the most effective measures for meeting their financial goals. How Foreclosure Works… 10 readers -
  • What to Do If You’ve Been Served with a Lawsuit

    … against your bank account….well….that’s when it’s really hard to stay calm. Can Filing For Bankruptcy Help? Let’s face it. Life is busy and we all think there is plenty of time, but two weeks goes by in a flash and if no answer is filed or action taken, it’s virtually impossible to “undo” a default judgment. Many people do not want to file…

    Bond and Botes- 8 readers -
  • Millennials and the Debt Problem

    … According to a recent Forbes article, Millennials may not be doing so badly when it comes to handling their finances. That’s interesting news considering about one-third of Americans—77 million people—have a report of a debt in collections. Further, the average adult owes around $5,178. Despite a poor economic outlook since Millennials began…

    Bond and Botes- 1 readers -
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