April 12, 2011


Before you file for bankruptcy you will need an OWOSSO & SHIAWASSEE, Bay City or Michigan Bankrutpcy lawyer. How to find one? 1-810-235-1970

Are you FACING BANKRUPTCY IN Owosso of Shiawassee County?

OWOSSO & SHIAWASSEE Bankruptcy attorney internet search involves the use of Keywords. Try OWOSSO & SHIAWASSEE Bankruptcy and you will find Terry Bankert, go to his popular web site

Are you looking for bankruptcy protection in Shiawassee county to include Owosso?

My practice regularly places bankruptcy information on face book .

Join my Michigan Bankrutpcy Group on face book for information on Owosso Chapter 7 Bankruptcy or Shiawassee Chapter 13 bankruptcy.

Hotels in monopoly are no better than finding a good Bankrutpcy attorney. You will do well going to
http://www.NoJokeBeingBroke can be found touting Bankruptcy on youtube.

OWOSSO & SHIAWASSEE Bankruptcy lawyers can be found on craigslist .

Google OWOSSO & SHIAWASSEE Bankrutpcy and you will find bankruptcy lawyer Terry R. Bankert .

Bankruptcy discharges make a debtor yell yahoo.

Bankruptcy valuations may be what it would sell for on ebay .

Ask Bankruptcy questions in OWOSSO & SHIAWASSEE by first doing a facebook login then going to Michigan Bankruptcy with Terry Bankert.

Bankrutpcy lawyers may answer your questions through yahoo mail

The Bankruptcy land of aquarius is at the discharge.

Bankrutpcy attorney Terry Bankert uses gmail some other lawyers use hotmail .

The location of your bankruptcy attorney can be found on mapquest.

What you see is an exercise to get my message to you using high volume key words. Call 810-235-1970 for a free bankruptcy consultation. OR REACH ME THROUGH HTTP://WWW.NOJOKEBEINGBROKE.COM

Its No Joke Being contact a FLINT BANKRUPTCY ATTORNEY.

March 13, 2011

Bankruptcy is there to help you get a fresh start in your life or time to get your economic house in order. For a Flint Bankruptcy Attorney Call 235-1970

In order to file a bankruptcy, a debtor must file a petition for relief with the United States Bankruptcy Court for the district in which he or she resides.
Most common bankruptcy types—Chapter 7 (individual liquidation), Chapter 13 (individual reorganization) and Chapter 11 (corporate reorganization or high-income individual reorganization).
What are the differences?

In a Chapter 7, a Chapter 7 Trustee is appointed to oversee the debtor’s case. This happens automatically from the panel of Chapter 7 Trustees maintained by the Bankruptcy Court. All of the debtor’s non-exempt assets are “pooled” and turned over to the Chapter 7 Trustee to be liquidated and distributed to creditors. Often, a Chapter 7 debtor has no assets to be liquidated, making the case a “no asset” case with no recovery by creditors. In a Chapter 7 case, the Chapter 7 Trustee is responsible for objecting to claims, filing adversary proceedings to challenge the status of security interests, recover “avoidable” transfers, and paying creditors.

In a Chapter 13, a Chapter 13 Trustee is appointed from the panel of trustees to oversee the debtor’s case. The debtor proposes a plan to repay his or her creditors a certain percentage of their debts over a period of time (usually 5 years). The debtor must devote his or her “disposable income” to the repayment plan. In a Chapter 13, both the Chapter 13 Trustee and the debtor can object to claims filed by creditors.

In a Chapter 11 case, there is no trustee. Instead, the debtor remains in possession of its business or assets and is called the “debtor-in-possession”. Most often used for businesses, high-income individuals can also use this process to reorganize their debts and pay creditors. A chapter 11 debtor also proposes a plan for repayment of creditors, and creditors vote on the plan to determine whether it will be confirmed (i.e., accepted) by the Bankruptcy Court. A Chapter 11 case is a powerful tool that permits a Chapter 11 debtor to, among other things, assume or reject leases and contracts, object to claims and recover avoidable transfers made before the case was filed.
Also Chapter 12 (family farmer) and Chapter 9 (municipality) cases—these are much less common.
Once the bankruptcy case is filed, the debtor must file its schedules of assets and liabilities and its statement of financial affairs, which lists various transfers made by the debtor within certain periods of time as well as other financial information
The schedules permit the Trustee and creditors to review the debtor’s assets and the debtor’s idea of what claims will be asserted by creditors
The statement of financial affairs allows the Trustee and creditors to determine if the debtor transferred any assets to insiders within 1 year of the bankruptcy, paid any creditors within the 90 days before the bankruptcy, and gives a general picture of the debtor’s financial situation, including the last several years of income.