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Chapter 13 Bankruptcy: A Matter of Definition

The filings late last month in a U.S. bankruptcy court in White. wants some clarity on the matter. A recent filing from the debtors claims that one of Maverick’s affiliates, Brooklyn Lender LLC,

Chapter 13 may provide a debtor with bankruptcy protection even if he makes too much money to qualify for a Chapter 7 case or if he received a discharge in a prior Chapter 7 case. Chapter 13 allows a debtor the length of the plan to pay back past due amounts owed on houses, cars and other loans that have collateral.

Etymology. The word bankruptcy is derived from Italian banca rotta, meaning "broken bench", which may stem from a widespread custom in the Republic of Genoa of breaking a moneychanger’s bench or counter to signify their insolvency, or which may be only a figure of speech.

With more than 100,000 creditors, 700,000 residents, 9,500 city employees and 21,000 retirees, Detroit’s bankruptcy carries sweeping repercussions. "This changes the ballgame in this country on how.

the standard accounting definition for being bankrupt. Of course, a company this big and this vital – it serves roughly half.

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said a person familiar with the matter. During the meeting, Purdue outlined a plan to file for Chapter 11 bankruptcy protection as a mechanism for implementing the settlement, which the company hopes.

Chapter 13 bankruptcy allows private individuals to keep your property but must pay back a portion or the entirety of their debt over a 3- to 5-year period. Because the person pays most, if not all, of his or her debt, Chapter 13 is sometimes referred to as a “reorganization.” Under another section of.

A Bankruptcy court has approved a lending proposal for Fox Valley Pro Basketball as the owner of Menominee Nation Arena works to reorganize its business. Fox Valley Pro Basketball filed for Chapter 11.

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The book would include chapters on myth, Plato, Cicero. but it should conform to eternal norms, no matter how poorly.

Going this route may cost more in interest – but no matter. to forgive. Bankruptcy is a legal process that will allow you to eliminate or repay debts under the protection of a bankruptcy court.