Bankruptcy & Debt Lawyer
Bankruptcy & Debt Legal Articles
Legal articles on Lawyer.com, Written by legal experts, are a great resource for learning more about Bankruptcy & Debt. Find more legal articles
Should I File for Bankruptcy?
State law (since statehood) required husband to be responsible for medical bills of wife. Court of appeals found the statute to be unconstitutional. As a result, the next legislative secession, the law was changed to make both spouses responsible for the medical debts or necessities of the other spouse.
Appeal concerned funds exempt or not in a Bankruptcy action. Suit had been filed against husband and wife for medical bills incurred by wife. The end result was the law set out when and how much certain funds paid by an annuity or other periodic payments would be exempt from creditors reach.
Considerations in collecting receivables.
Chapter 12 bankruptcy is utilized by farmers and fisherman
All is not lost simply because the judgment was granted, especially if you had a valid excuse for not filing a response. There is a chance that you were never served documents alerting you to the existence of the lawsuit.
Defaulting on a student loan almost always entails negative consequences, especially for young borrowers. In some cases, they may be forced to hold off on getting married, having kids, or starting businesses.
Debt collectors are obligated to validate the debt with information about who is owed and how much. This is basic information that they should be able to produce; if they cannot, you may not hear from them again.
Family Farmers and Fisherman have special provisions in Bankruptcy that allow them to modify loan and farms and equipment, far more generous than other Bankruptcy options.