Chapter 7 Bankruptcy

29 Feb Another Southwest Florida Bankruptcy Judge OKs Chapter 20 Lien Strip

The most recent court opinion, In re Scantling, written by Bankruptcy Judge Michael G. Williamson, agrees that a debtor can file a Chapter 20 and strip his or her second mortgage (or whatever is left of it) despite not being eligible for a discharge. A Chapter 20 Bankruptcy is a slang term used in the bankruptcy world. When debtor files a Chapter 7 and receives a discharge of all dischargeable debts, then follows the Chapter 7 with a Chapter 13 bankruptcy.
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09 Feb Gary Busey Files Chapter 7 Bankruptcy–And He’s Not Alone

On Tuesday, Gary Busey filed Chapter 7 bankruptcy. That's not all that shocking--plenty of celebrities have sought bankruptcy protection. Entertainers like Gary Coleman, Burt Reynolds and Jerry Lee Lewis, businessmen like P.T. Barnum and Donald Trump, socialites like Patricia Kluge, professional athletes like Lenny Dykstra...

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31 Jan Top 15 Lies About Bankruptcy-Lie #1: Congress Ended Bankruptcy in 2005

Top 15 Lies About Bankruptcy Lie #1: Congress Ended Bankruptcy in 2005   Truth-o-Meter: Even though the 2005 amendments to the Bankruptcy Code known as "BAPCPA" were passed a long time ago, we are still hearing a lot of misinformation about this. Some of the worst falsehoods that bill...

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06 Dec Stopping Wage Garnishment Through Bankruptcy: Make Sure To Get The Timing Right

When a creditor obtains a court judgment against a debtor, wage garnishmentcan be soon to follow. Most persons subjected to wage garnishment will consult a lawyer to see ifit can be stopped, and many of those will file either chapter 7 or chapter 13 bankruptcy...

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