2008, ISBN: 9781234462673

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 26 pages. Original publisher: Washington, D. C. : Federal Trade Commission, Bureau of Consumer Protection, Divi… Mehr…

RareBooksClub. Paperback. New. This item is printed on demand. Paperback. 26 pages. Original publisher: Washington, D. C. : Federal Trade Commission, Bureau of Consumer Protection, Division of Consumer and Business Education, 2008 OCLC Number: (OCoLC)263688627 Subject: Consumer credit -- United States -- Handbooks, manuals, etc. Excerpt: . . . S 3 eCtion Chapter 7, known as straight bankruptcy, involves the sale of all assets that are not exempt. Exempt property may include cars, work-related tools, and basic household furnishings. Some of your property may be sold by a court-appointed official - a trustee - or turned over to your creditors. The new bankruptcy laws have changed the time period during which you can receive a discharge through Chapter 7. You now must wait eight years after receiving a discharge in Chapter 7 before you can file again under that chapter. The Chapter 13 waiting period is much shorter and can be as little as two years between filings. Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments, utility shut-offs, and debt collection activities. Both also provide exemptions that allow you to keep certain assets, although exemption amounts vary by state. Personal bankruptcy usually does not erase child support, alimony, fines, taxes, and some student loan obligations. Also, unless you have an acceptable plan to catch up on your debt under Chapter 13, bankruptcy usually does not allow you to keep property when your creditor has an unpaid mortgage or security lien on it. Another major change to the bankruptcy laws involves certain hurdles that you must clear before even filing for bankruptcy, no matter what the chapter. You must get credit counseling from a government-approved organization within six months before you file for any bankruptcy relief. You can find a state-by-state list of government-approved organizations at usdoj. gov ust. That is the website of the U. S. Trustee Program, the organization within the U. S. Department of Justice that supervises bankruptcy case. . . This item ships from La Vergne,TN., RareBooksClub<