Mar 11, · The Bankruptcy Files 11 March "Two years after private equity firm Golden Gate Capital bought Conexant Systems for $ million, the semiconductor manufacturer filed for bankruptcy in Delaware on February Upon filing a bankruptcy petition, a body of assets known as the bankruptcy estate (the “Estate”) is created.2 The Estate is broadly defined and includes “all legal and equitable interests of the debtor in property as of the commencement of the case.”3 As further discussed below, landlords should be aware that property of the Estate may. Bankruptcy Lawyers In Lakeland, Florida, Can Help You. and protect your property. Types of Bankruptcy. A bankruptcy attorney can help you determine if the process is right for you or if other debt relief options are better suited to your needs. If bankruptcy is appropriate for your situation, your lawyer will help you decide whether Chapter.
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There are several different types of bankruptcy processes and each is designed to address specific circumstances. Given the complexity of the bankruptcy process, it is always advisable to seek the advice of an experienced attorney to determine whether filing for bankruptcy is in your best option.
For instance, it is important to note that not all debts can be discharged in bankruptcy. However, filing for bankruptcy will end the pressure of lawsuits, harassing telephone calls, and wage garnishment while you reorganize your financial life.
Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it. Another major change to the bankruptcy laws involves certain hurdles that you must clear before even filing for bankruptcy, no matter what the chapter.
You must get credit counseling from a government-approved organization within six months before you file for any bankruptcy relief.
You can find a state-by-state list of government approved organizations at www. That is the website of the U. Trustee Program, the organization within the U. Department of Justice that supervises bankruptcy cases and trustees. Also, before you file a Chapter 7 bankruptcy case, you must satisfy a "means test.
The amount varies by state and is publicized by the U. Trustee Program at www. Personal Bankruptcy Personal bankruptcy generally is considered the debt management option of last resort because the results are long lasting and far reaching.