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When, why, and why not, should I consider bankruptcy?

Declaring bankruptcy if you find your self in debt is a legal and legitimate way to get back on your feet financially. If you declare bankruptcy, it can protect you from menacing creditors.

Declaring bankruptcy if you find your self in debt is a lega...

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What does the term “surrender” mean in bankruptcy law?

Surrendering property in bankruptcy involves secured loans, which are loans that are guaranteed by a piece of property, such as a house or car. In bankruptcy cases and many others, people typically surrender property when they can no longer make loan payments.

Surrendering property in bankruptcy involves secured loans, ...

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Understanding Cramdown in Bankruptcy

One significant advantage is the ability to modify the rights of a secured creditor. This means the debtor can actually change the terms of a contract with a creditor through bankruptcy in a provision generally referred to as cramdown. The cramdown provision reduces the amount owed to the fair market value of the collateral that secures the debt.

One significant advantage is the ability to modify the right...

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Converting From One Bankruptcy Chapter to Another

The bankruptcy term conversion refers to the process by which a debtor, creditor, or bankruptcy trustee transfers a pending bankruptcy case from one chapter to another. Conversion may occur for a number of reasons, and may be voluntary or involuntary depending on the circumstances. Follow this link for detailed information.

The bankruptcy term conversion refers to the process by whic...

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