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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Repossession is the power of the creditor to take back goods
There are two types of loans: secured and unsecured. A secured loan is one that requires you to pledge something as collateral. For example, if you purchase a car, the creditor will usually require you to put up the car as collateral. On the other hand, an unsecured loan, does not require collateral. Using a credit card is usually an unsecured loan.
New Bankruptcy Law 2005
Beginning on October 17, 2005, most individual debtors filing for bankruptcy relief were required to complete either Official Bankruptcy Form B22A ... Read more >
Definition:
An unofficial term describing a company that has filed for Chapter 11 twice.
Chapter Twenty
Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.
Absolute priority
Definition:
The order of payment to the different classes of creditors mandated by the Bankruptcy Code. In theory, claims with higher priority are paid in full before other claims receive anything
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Alliance
Ashtabula
Barberton
Beachwood
Bowling Green
Brunswick
Canton
Chillicothe
Cincinnati
Cleveland
Columbus
Dayton
Delaware
Dublin
Eastlake
Elyria
Fairborn
Fairfield
Findlay
Grove City
Hamilton
Hilliard
Kent
Lakewood
Lancaster
Loveland
Marion
Mason
Massillon
Medina
Mentor
Middletown
Newark
Painesville
Reynoldsburg
Sandusky
Stow
Toledo
West Chester
Westerville
Wooster
Xenia
Youngstown
Zanesville
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