I filed personal chapter 7 bankruptcy in 2007.
I now own a business, a daycare, that is failing due to so many parents being out of work.
Is Chapter 11 the proper bankruptcy to file for this type of debt, and if so, am I eligible?
in 2005 republicans made bankruptcy laws much tighter. Despite it, I still successfully filed chapter 7 protection last year and wiped out 0000 insecure debt. The reason for cracking down on bankruptcy filers in 2005 by repubs were as follows — "people should be financially responsible". As if the government is very financially responsible? How can government tell people to be financially responsible when they themselves are reckless spenders like bailout, iraq war spending, etc etc? That’s being so hypocrite. Also republicans now say, "its not government’s job to tell people how to live". Again they defy their own advice. And most of all, its not person’s fault he goes into bankruptcy. The recession caused millions to become bankrupt, when they lost jobs. And in such situation Bush/Cheney led government tried to choke and hurt these people by making it harder for them to file chapter 7? Then why didn’t they let corporations file chapter 11 instead of being bailed out? Hypocrite republicans. Also shows republicans are only for the rich and not poor. This proves it.
its not copy/paste. its my own thoughts 100%.
comrade: Why do corporations have to be bailed out then? if they can be bailed out, I should be allowed bankruptcy too
both joes: FAIL
no wonder republicans lost house, senate in 2007 and presidency in 2008.
conservative anger: how are you going to pay when you have no money? with a magic wand?
showing the anti-bankruptcy model hurt GOP itself. That was political suicide. From thereon, Bush ratings dropped dramatically and 1 year later they were booted from house and senate
Notice right now Palin and various GOP leaders avoid debate on bankruptcy laws and don’t ever talk of cracking down on bankruptcy. Notice they changed their position now.
Joe: you say, " No Republican forced millions of people to buy homes, cars, and other things outside of their means leading them to the point where they need to file bankruptcy." What about bankruptcy due to job loss or medical emergency? are you trying to say all bankruptcies are due to negligence? you are cruel and heartless, like typical conservative
comrade joe: you can eliminate bankruptcy law but that doesn’t mean creditors will be paid. If there is no money, there is no payment. its that simple
If Its Most Likely To Fill For Chapter 11. Should I Sell My Shares Now To be safe? I was told When a Company Files For Bankruptcy Its Shares Fall To Zero Is This True? Or Should I Stay With the Company if it doesn’t Fall to Zero After chapter 11. Thank You
I Will Cut My Loss And Deal with It. I will Get Half Back If I Get out now
I want to eliminate my debt, but I’m not sure if it’s Chapter 11 that I need to file. I live on Social Security, and I just can’t catch up on my bills, let alone, have money to hire a lawyer to do this for me. Can I file this without a lawyer??
I’m not talking about going to trial, just asking if I MUST have a attorney to file, or can I do that myself, or does an attorney HAVE to file on my behalf??
It seems unfair when a company files chapter 11 they only have to pay back a portion of what they owe to creditors. is this true and how many time can you file bankruptcy until they say you can’t?
Bailout isn’t going to happen…
and the more I think about it the worse the bailout idea gets
from link:
Reorganization Under the Bankruptcy Code
The chapter of the Bankruptcy Code providing (generally) for reorganization, usually involving a corporation or partnership. (A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.)
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter11.html
That is the way it’s done when company can no longer compete…for whatever reasons…isn’t it?
After 7 years employed at a firm they locked their doors last Thursday. Chapter 11 happens this week. 7/1 payroll did not happen, and I am a sales person paid upon invoice so I also lost any potentials wages on future work.
I know a company can file for different types of Bankruptcies, like Chapter 11 which allows a company to reorganize, or Chapter 7 which involves the process of Liquidation….but my question is, once a company has declared Bankruptcy, who in the company is actually responsible for going through with everything? The CEO and CFO? The stockholders? The private investors? The federal government?
Like, what if a company files Bankruptcy and they owe their investors money….what if they are unable to repay the investors, even after the liquidation process?
Just like pricewatch burst many years ago. Cant someone buy a stock when it hits rock bottom and wait for it to go back up? Or does bankruptcy mean this company is done for good? Im lost because I thought that chapter 11 was just clearing out there debts. Donald Trump has done this atleast 3 times already.
I’m trying to find out if there is someplace online to find bankruptcy documents (at not charge). Specifically, I’m trying to locate the chapter 11 petition for Agriprocessors Inc. It was just filed this week. Any help would be appreciated.
I owe money to a hospital that recently filed for Chapter 7 bankruptcy. Will my debt with them taken off my credit report? Or does it stay?
Same goes for a bank. If they go into Chapter 11 or Chapter 7?