When Chapter 7 goes bankrupt, bankruptcy can be traced back to two curves. The first step is that the debtor will be informed of the burden of real estate debt and leave enough assets to start again. The second track is the creditor who collects, liquidates, and distributes any available property. After the application is submitted, it will automatically cease to take effect. Automatically stop the creditor from collecting debt from the debtor. It is also important for the debtor to understand other chapters that he or she can submit in Chapter 11 or Chapter 13.
To submit a bankruptcy case, the following information must be provided: full name and all the information used for the past six years; social security number; current address and all addresses used in the past six years; occupation, employer, wage rate, and all sources of income; Dependent's name, relationship and age; description of all property; description of all lawsuits involving debtors; description of property sold or sold last year; list of all property lost and all insurance claims; federal, state of the past two years And city income tax; debts and amounts owed by all creditors. In addition, any accompanying information must be provided; any past bankruptcy details; all monthly fees; the value of all property;
After submitting an application, several steps must be followed. Independent legal assistants play a valuable role in the bankruptcy process. A paralegal can be a bankruptcy application ready. The compiler is a person who prepares petitions or other documents in bankruptcy to obtain money. As a paralegal, if I can't assist a client, I will bring a lawyer. An honest lawyer's assistant tells the client that he or she cannot assist him or her.
Orignal From: Chapter VII Bankruptcy - The simplest type of debtor
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