When individuals file for bankruptcy, they typically use Chapter 7 or Chapter 13 laws in order to do it. However, some people end up using Chapter 20 instead. Here is what you need to know about this unique form of bankruptcy.
What's Chapter 20?
You may find yourself in a situation where your financial debt cannot be resolved with Chapter 7 or 13 bankruptcy by themselves. Chapter 20 is when you essentially file for Chapter 13 and immediately use Chapter 7 rules to clear out your financial debts.
One of the most worrisome reasons for an injury claim to be rejected is that you might have signed a liability waiver or release form. Especially if you don't recall being handed such a document to sign, this can be extremely upsetting.
You may be wondering how you can refute or nullify the claim that liability has been waived. Look at four arguments a personal injury lawyer might use to get past a waiver or release.
Comparing the two main branches of bankruptcy is a good idea if you are at your wit's end with your finances and debts. Bankruptcy provides relief in many ways, but you might not qualify for the branch you want to use. If you find out you do not meet the eligibility requirements for Chapter 7, should you file for Chapter 13? Would this be a good idea? Before deciding to use Chapter 13, make sure you find out from a lawyer if it is a smart move.
Before you file bankruptcy, it is important to find out what types of effects it will have on you and others, simply to make sure that you are fully aware of what to expect. While it is important to understand the effects of bankruptcy on yourself, it is also important to find out how filing for bankruptcy can affect anyone who is a joint account holder of yours.
What is a joint account holder?
A divorce can impact your life in so many different ways, and one of the leading causes of divorce is money. Financial issues can put a large strain on a relationship, so many couples will end up filing for divorce because of this strain. If this is one of the reasons you are getting divorced, you might be in a position where you are considering bankruptcy. Bankruptcy and divorce often go hand-in-hand, and here are some things to consider if you are going through a divorce and are in a bad financial situation.