Posts Tagged ‘personal bankruptcies’

How much does it cost for a small corporation to declare bankruptcy (Chapter 7 Liquidation)?

My father is the CEO of a small corporation, in which he owns a 100% equity interest . The company has only two employees. The corporation’s funds will be exhausted in a matter of several days. His lines of credit have been suspended and his cash reserves are almost fully depleted. What is the cost of a corporate bankruptcy attorney in California (on average)? A ballpark figure or range would be appreciated. Can he represent himself (unfortunately, he has no legal background whatsoever)? Are there any low-cost templates or software to do the filing?
Thanks to ‘kckid2′ for the Nolo press link. Unfortunately, my quick tour through the table of contents indicated that the book is geared toward personal bankruptcies (rather than corporate ones).

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Your thoughts on reforming the US Healthcare system?

Seeing as to how Obamacare is heavily debated and let’s be honest the GOP haven’t put a viable alternative so what are your thoughts on some reform

What should be the main goal of health reform in the US, should it Decrease the cost of health care, Improve the quality of health care, Improve the access to health care or make most Americans receive at least basic free public care. What would it be like for the US if an Australian system like the Medicare service is implemented where all taxpayers pay a 1.5% income tax levy (with exceptions for low-income earners), an additional levy of 1% is imposed on high-income earners without private health insurance. There is also a private health system where people pay for health insurance to go to a private hospital if they wish for quicker service. Bankruptcies from lack of funds to pay for medical bills is the largest reason for personal bankruptcies in the US accounting for over 60 % of all bankruptcies, while in Australia it is almost negligible.

Check out these videos for some information:

http://www.newscientist.com/articlevideo/dn17512/30590602001-the-scientific-arguments-for-us-healthcare-reform.html

So what do you guys think?

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Why Tennessee? 1 bankruptcy filing for every 56 households?

TN has the higest rate of personal bankruptcies in this country.
Obama voted against the 2005 BK bill which Bush signed into law. McCain voted for it.
This new law was a gift to the CC/banking industry & has caused many who need the fresh start of BK more hardship.
Yet, McCain is probably going to win TN in the general election.
He will never make any amendments to this law. Given the chance, Obama may.
This is so sad that some people in TN will vote against their own best financial interest, having been brainwashed to thinking things like flag pins are more important.
Some of you who would judge anyone who has filed bankruptcy have not walked in anyones elses shoes & like the Bible says, you heap judgement upon yourself when you judge others.
You may have your plans now and there is nothing wrong with that, but God may have other plans for you someday and you may need the protection bankruptcy offers!
Abe Lincold did. So did Henry Ford, Walt Disney and many others!

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