Thursday, December 23, 2010
Information about bankruptcy claims
If you is a person or company files bankruptcy it legally obliged to inform all creditors. Once the creditors have informed you need "Proofs claim" to collect money from bankruptcy court bankruptcy file. If a creditor fails to provide a claim within the time limit, the claim is extinct once completed bankruptcy and all debts have been dismissed. The most common types of bankruptcy under the bankruptcy of the United States Code are Chapter 7, Chapter 11 bankruptcy TypesThe and chapter 13. Chapter 7 and chapter 13 bankruptcy is personal is a chapter 11 bankruptcy of the company. Click bankruptcy all were under a chapter 7 are used on offshore sold and each product to pay creditors of estate, within six months. A chapter 13 bankruptcy requires plan accounts receivable payments to a trustee for a period of three to five years, and the trustee makes payments to the creditors during this period. A chapter 11 bankruptcy is a system of reorganization of business in which a trustee decides, as most creditors paid by reorganizing an organization run more efficiently or maybe just sell off the coast of assets.Filing a ClaimWhen a creditor wishes a complaint with the bankruptcy, he must file a "proof of payment." This document is a standard, widely available in the courthouse requires leading creditors standard information about the claim. The documents are required such as signed contracts, invoices or account balances. The application must be within the period of limitation on the application submitted your state.Unsecured made ClaimsAn request is a request, not by any guaranteed guaranteed is (s) of the loan. An example of this type of debtis a credit card statement. These types of questions, are you not sure often paid in full, if someone-for insolvency files. These debts have a low that priority of not Garantierevendications or secure priority made claims.Priority Nonpriority ClaimsA entitled debt not guaranteed is. However, it is given the Federal priority status. Support, maintenance or spouse child support can be debt. These debts must be paid in full and discharged by bankruptcy application. These claims proceeding.Secured ClaimsA are secure by the judiciary to bankruptcy demand one is paid, that is "by the guarantee to secure a mortgage or car loan". If a debtor on a secured debt, is the believer in the location, ownership or lock on the assets of recovery to regain your credit. Although this debt may not be released, it is possible to stop the foreclosure or recovery from submission, although this is only temporary bankruptcy. These loans will be fully refunded or returned by current bankruptcy, otherwise the warranty sold or issued to the creditor, the demand for numbers.
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