All About Bankruptcy and Alternatives

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	All About Bankruptcy and Alternatives

The AnswerMan

3-18-2009 3:28 AM

46 views

tags:

bankruptcy, chapter 7, chapter 13, alternatives

The AnswerMan says:

What you need to know about bankruptcy, before you make such an important decision.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/e882c1dc-aaf9-4a49-91a5-b4a99377329a/196B21BE-7617-4C7A-BE69-AB89C1E9064B/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.opportunitiesaplenty.com/bankruptcy.html" href="http://www.opportunitiesaplenty.com/bankruptcy.html" style="font-size: 11px;">www.opportunitiesaplenty.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.opportunitiesaplenty.com/bankruptcy.html"><DIV>Different Types of Bankruptcy</DIV></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.opportunitiesaplenty.com/bankruptcy.html"><SPAN> is also called a straight bankruptcy. This type of <BR soft="" />bankruptcy typically allows all, or almost all debts to be wiped away. The debtor's <BR soft="" />property is turned over to a bankruptcy trustee for liquidation. It is then sold to <BR soft="" /><DIV>satisfy as much of the accumulated debt as possible.</DIV><BR /></SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.opportunitiesaplenty.com/bankruptcy.html"><SPAN>Sometimes bankruptcy may be the only option. However, on April, 20th 2005 <BR soft="" />President Bush signed the Bankruptcy Reform Act, S 256 into law. </SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.opportunitiesaplenty.com/bankruptcy.html"><SPAN>This new <BR soft="" />bankruptcy reform legislation is now in effect</SPAN></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/196B21BE-7617-4C7A-BE69-AB89C1E9064B/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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