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Bankruptcy & consumer credit : Law & Legal & Attorney
The Money Tree Inc., Files for Chapter 11
Money doesn't really grow on trees, it seems. The Money Tree Inc., a small consumer loan provider filed for bankruptcy protection in Alabama last week. The Georgia-based company was left with
How to Set Up a Division in an LLC
Many limited liability companies (LLCs) are organized partnerships. Sometimes these partnerships are organized along product lines and separated into divisions as the business grows. For example, in an oil company that refines oil and separates the petroleum products, one division may focus on produ
Adversary Action During Bankruptcy
When you decide to file for bankruptcy protection, your creditors probably won't be happy to hear the news. They might hire attorneys to scrutinize your petition and try to find some detail they can use to convince the judge that he should not discharge that particular debt. If they find anything, t
Working With Your Bankruptcy Lawyer
When people file bankruptcy, more often than not, they hire attorneys to help them through the process. Here's a helpful guideline for choosing and working with your bankruptcy lawyer.
Why Hiring Bankruptcy Attorney Beneficial For People In Financial Trouble?
it is advisable to give some time to search for the right person whom you can trust with your financial information as well as the money you will be spending for their services in such a crunch financ
Definition of an LLC Company
A limited liability company (LLC) is a type of business ownership. It allows the owners to get the benefits of a partnership and a corporation. Advantages of forming an LLC include lower taxes and protection from personal liability. An LLC may also be a good choice for business owners involved in fa
Board Members and Conflict of Interest
A board of directors has a duty to act in the best interests of the corporation. Directors are therefore supposed to refrain from acting in a manner that conflicts with those best interests. Many different types of transactions can be construed as conflicts of interest; such transactions, if unfair
How to Declare Bankruptcy in South Africa
Bankruptcy law in South Africa, similar to U.S. law, allows a person to eliminate most, if not all of their debt to obtain a "fresh start." Generally, you should consider filing for bankruptcy if you have no liquid assets to pay your creditors, and your creditors are initiating legal proceedings aga
Finding the Right Bankruptcy Lawyer
You've heard, and it is absolutely true, that individuals can file for bankruptcy without the help of an attorney. All a person needs to do is to fill out the correct forms completely and correctly and then file them. That sounds easy enough - until you try doing it.
Define Ordinary Course of Business
"Ordinary course of business" is defined as "a usual and necessary activity that is normal and incidental to the business," according to the Law Dictionary. Business transactions take place in the course of usual financial and business operations. This definition is often used to determine that a bu
How to Reject a Lease in a Bankruptcy
When you file for personal bankruptcy, you must list all of your creditors on a bankruptcy "matrix." This includes all credit card companies, your mortgage and insurance companies, utilities and anyone that holds a lease with you. Leases are usually paid through your bankruptcy plan. In order to hav
Bankruptcy - Understanding Chapter 7 Bankruptcy
Chapter 7 is the most common type of bankruptcy. This article covers the main stages of the Chapter 7 bankruptcy process.
How Do I Obtain Permission to Apply for a Student Loan From a Bankruptcy Court?
When a debtor files a Chapter 13 bankruptcy petition, the debtor must stick to a strict budget and use all of his monthly disposable income to repay his creditors. Because the debtor must use his monthly disposable income to make payments into a debt repayment plan, a bankruptcy court would be reluc
Fiduciary Duties Under the Sarbanes-Oxley Act
Corporations must now be more accountable to investors.corporative business image by breezeart.us from Fotolia.comFollowing corporate financial scandals that seriously affected the economy and consumer confidence, Sen. Paul Sarbanes and Rep. Michael Oxley developed legislation to regulate...
The Process Of Bankruptcy
In today's world our financial transactions and our life is very much dependent on Credit & Loans. But many people face this problem when they have no credit for repaying it. In that
What Is a Bankruptcy Discharge?
The goal of any bankruptcy is the discharge of legal obligations associated with consumer debts, such as loans or credit card bills. An approved bankruptcy is known as a discharge, whether the debtor files for Chapter 7 forgiveness or a Chapter 13 restructuring and debt repayment plan. Bankruptcy pr
Who Can Declare Bankruptcy?
In difficult times, bankruptcy protects debtors against the actions creditors take to collect their debts such as filing lawsuits, garnishing wages, or foreclosing homes. Consumers with too much credit card debt, and other debt, have the option of filing bankruptcy to stop these actions and protect
Facing Bankruptcy? Know Your Alternatives
There are many ways to escape debt and not all of these include the fate of declaring oneself bankrupt. In fact, many alternatives to bankruptcy exist that may be just as effective in putting an end to the overwhelming financial problems form which you are currently struggling.
Association Collection Services for Community Associations
Stonehenge Trustee Services (STS) provides community Association collection services to a broad range of Bay Area and California based HOA's, and boasts a proven track record of prompt and ef
Illinois Limited Liability Company Act
A limited liability company (LLC), like a corporation, gives business owners protection against personal liability. The Illinois Limited Liability Company Act establishes the general rules that govern the creation, operation, management and dissolution of a limited liability company. Owners of a lim