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The world remains horrified at the tremendous destruction caused throughout the Gulf Coast recently by Hurricane Katrina. An unknown number of people are dead and thousands more are homeless, jobless and completely destitute. It may be months before the city of New Orleans is inhabitable again, and in the meantime, most residents of the city will have little or no income. This is a problem, as most people will continue to have payments due for credit cards, auto loans and mortgages. A number of people will probably be forced to file for bankruptcy as their debts continue to pile up Click here to read more from this article
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Spanair files for voluntary bankruptcy Spanish carrier Spanair filed for voluntary bankruptcy Monday, officials said, three days after abruptly stopping all flights and stranding tens of thousands of passengers. Mon, 30 Jan 2012 10:59:28 -0800
Makers of Shakers vodka file for bankruptcy The company that makes Shakers vodka has filed for Chapter 7 bankruptcy protection. Infinite Spirits Inc., of Blaine, filed the voluntary petition Jan. 5 in Minnesota division of U.S. Bankruptcy Court. Sat, 04 Feb 2012 11:11:31 -0800
Trustee asks judge to close ex-nonprofit's bankruptcy The trustee overseeing the liquidation of Goodwill Industries of Amarillo is asking for the bankruptcy case to be closed. Fri, 03 Feb 2012 20:57:42 -0800
Shakers vodka maker files for bankruptcy BENSON, Minn. - The company that makes Shakers vodka has filed for Chapter 7 bankruptcy protection. Sat, 04 Feb 2012 10:23:21 -0800
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Chapter 7The potential chapter 7 debtor should understand that a straight bankruptcy case does not involve the filing of a plan of repayment as in chapter 13, but rather envisions the bankruptcy trustee's gathering and sale of the debtor's nonexempt assets, from which holders of claims (creditors) will receive distributions in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, under chapter 7, the individual debtor is permitted to retain certain "exempt" property. The debtor's remaining assets are liquidated by Click here to read more from this article
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