What Is Chapter 7 On Bankruptcy Laws: A Beginner’s Guide

26 June 2021

If you are in the business industry, Bankruptcy is one of the most common terms used. It is a legal process to give your financial life a fresh start, either by discarding or making arrangements to pay your debts.

In most cases, Bankruptcy also plays an influential role for the companies to end the business and liquidate the company’s assets in an orderly way.

A bankruptcy case is filed when a company is no longer able to handle the financial flow of the business and is on the brink of closing its doors. Bankruptcy offers a way out in such scenarios.

Yes, Bankruptcy stays on your credit report and makes it hard for you to apply for a loan, but sometimes it is best to apply for Bankruptcy. Let’s understand it in a much better way.

What Is Bankruptcy?

When a situation arises where an individual or a company feels like they can no longer pay up their debt, they choose to file Bankruptcy. Although there are different types of Bankruptcy, you can go with anyone that best complements your current situation.

Despite being several types, the only goal of Bankruptcy is to discharge you from debts and give a fresh financial start. When a bankruptcy is filed, a Discharge order is issued. It is an order from the Bankruptcy court that permanently prohibits any debt collectors and creditors from coming to your doorsteps.

Here are the types of Bankruptcy:

Chapter 7.
Chapter 9.
Chapter 11.
Chapter 12.
Chapter 13.
Chapter 15.

Yes, we do have this many bankruptcy laws to offer full support. Among them all, the most filed Bankruptcy is Chapter 7.

What Is Chapter 7 Bankruptcy?

Chapter 7 Bankruptcy is by far the most common filed Bankruptcy for individuals. It calls for the sale of the debtor’s nonexempt property to pay out the debt he/she has incurred. Chapter 7 bankruptcy is well suited for the dividual who do not have a fixed income source.

When a chapter 7 bankruptcy is filed, the bankruptcy court appoints a trustee to oversee the case. The main responsibility of the trustee would be to see whether the sales process is going as planned and creditors getting paid their money.

However, the selling process of the debtor’s assets has some restrictions. The trustee cannot take all of your assets. They can only sell the assets with a nonexempt tag. This ensures that you are not stripped of everything you need to live.

Some common exemptions are as follows.

House.
Auto vehicle.
Certain retirement accounts.
Property that can be considered assets and not necessary for living.

To know more about the whole bankruptcy thing, more especially about chapter 7, contact Chapter 7 Bankruptcy in GA.

How To Prepare For Chapter 7 Bankruptcy?

When preparing for chapter 7 Bankruptcy, gather all your financial records that include all your loan details, credit card statements, bank statements, and paystubs. You will need all the documents to complete your chapter 7 bankruptcy documents.

Chapter 7 bankruptcy comes with a voluntary petition to the court, scheduling all your assets, and declaration regarding the debtor’s education.

Credit Counselling

Before the chapter 7 case can be filled, every debtor must participate in a session with an approved credit counselor. This session can either be attended in person, via telephone or online.

Understanding The Means Test

Debtors are needed to pass the Mean Test. It is also a necessary document that is required at the time of the chapter 7 filing. This test calculates the potential of whether you can pay the mean.

The Mean Test compares your household income and the mean income of the state to know the current standing of your financial footings.

The Meeting To The Creditors

After Chapter 7 is filled, the court will issue a notice of “meeting of creditors”. As the name suggests, it is a meeting for the creditors to question the Bankruptcy and clear any doubts.

Conclusion

There you have it; now you know what Chapter 7 bankruptcy is all about. We have tried our best to keep every information possible in the most concise way. We hope that you get the answer you were looking for. If you want to know more about Bankruptcy, do let us know, we will be there with a suitable answer.

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The Basics of Criminal Appeals Law

In this article, we want to quickly look at the subject of criminal appeal and the laws that govern it. We are not approaching it like a law school course addressed at lawyers but as a general informative content meant for those who may not be so knowledgeable in legal matters. Hopefully, the information we will share here however basic will help you get a better understanding of this process of criminal appeal and how you can take advantage of it should you be in a position where such an action becomes necessary. The Basics of Criminal Appeals Law: An Overview: A criminal appeal is a process where an individual who has been tried by a court of competent jurisdiction and convicted for a crime decides to seek the intervention of a higher court. The purpose of this intervention could be to seek an overturn of the conviction reached by the lower court based on a few points that we will look at later. It could also be to seek a reduction in the sentencing delivered upon conviction. In either case, the defendant is turning to a higher court so that s/he can get a more favorable outcome in the form of an acquittal or a sentence reduction. When an appeal is filed, the higher court will go through the process that the lower court went through to reach its verdict. This means that there shall be no testimonies or submissions of fresh evidence. The decision of the higher court will be based solely on the recordings of the concluded court proceedings. It is from this recorded process that the appealing counsel will point out the grounds of their appeal and it is also from these recorded proceedings that the higher court will reach its decision. It is important to understand that it is common to find the higher courts in the U.S naturally favoring the decisions of the lower court. It will take some very clear infractions or errors to cause a higher court to overturn the judgment of the lower court. Grounds on Which an Appeal Can be Made: We mentioned above that an appeal has to be based on certain grounds. We will now look at a few of these grounds upon which a criminal appeal can be filed. An appeal can be file if any of the following happened during the trial at the lower court: There is a clear error in the interpretation of the law. The verdict given is not backed up by clear evidence. The ruling of the lower court bothered on abuse of its discretion. The defendant claims that his/her representation was inadequate. Any of the points above are grounds upon which an appeal can be filed. You should, however, understand that the appellate court must find evidence in the proceedings of the trial as shown by your attorney in your appeal filing that supports your claim. If the higher court does not find enough evidence supporting your claim, it will be thrown out. What You Should Do: If you have just gone through a criminal trial and you were not happy with the outcome because you felt the process was somehow flawed, you could ask your lawyer what your chances will be if you were to take it to a higher court. We understand that it is likely that your attorney is the reason why the outcome of the trial was the way it is. If this is the case, then having such an attorney handle your appeal will not be a very smart move. You’ve already made the mistake of choosing an attorney who could not properly represent your interest in court, do not make the mistake of having the same attorney contest this outcome in a higher court for you. You can find a lawyer here with the experience to look through the records of your case and give you a candid opinion. There’s no point in spending time and money contesting a case that is certainly not going to go your way no matter where you take it. What you need is a correct assessment of your chances. If it is seen that there are indeed solid grounds on which an appeal can be filed, you should engage the services of Criminal Appeals Toronto attorney with the required expertise, who knows exactly how to prepare your case to give you the best chance of getting a better verdict. Bonus knowledge: Check out our blog regarding Criminal Law Enforcement Read Also: Keys To Become A Successful Lawyer 3 Reasons Why You Might Need A Family Lawyer Three Practical Tips And Techniques For New Trial Lawyers

Premises Liability in Indiana

What is Premises Liability? Premises Liability is the legal idea that if someone is injured on your property due to unsafe structures, mismanagement, or other instances of dangerous conditions, you are liable for the injury. Property owners are expected to maintain safe conditions on their property, and if they fail to do so, are held responsible for any accidents that may occur due to their negligence. If you or a family member have been injured on someone else's property, you may be eligible for financial compensation due to medical bills, lost income, distress, pain, and suffering, or wrongful death. What are Indiana's Laws on Premises Liability? Indiana determines Premises Liability based on the nature of the injury and the nature of your presence on the property. The injuries could be from things such as a dog bite, a slip, and fall due to improper maintenance, falling objects, exposure to dangerous substances, or a variety of other hazardous scenarios. In addition to the nature of your injury, Indiana considers the circumstances of your presence on the property when deciding the owner’s “duty of care.” This is divided into three categories: Invitees - Invitees are held in the highest regard in a Premises Liability case, as they are invited onto the property from the owners. It is the responsibility of the owner to suitably warn an invitee of any potential hazards or dangerous conditions. If the property owner has invited an individual onto their property and failed to properly warn the invitee of a hazard that resulted in injury, they are held liable. Licensees - A licensee is an individual who has permission to access a property, but for their own purposes. The property owner is still has a higher “duty of care” to a licensee than a trespasser, but only in that they must inform a licensee of a hazardous condition if the owner explicitly knows about the hazard, or that it is very likely the licensee would be unable to identify the hazard on their own. Trespassers - Trespassers have the lowest duty of care in an Indiana Premises Liability case, because they have entered the property on their own accord, and without permission from the property owner. This does not always mean that they are not entitled to compensation due to an injury, but the circumstances are generally more complicated. If the trespasser is a child, there is a higher duty of care than an adult who knowingly enters a property without the express permission of the property owner. I’ve been injured, should I consider a Premises Liability suit? Regardless of the circumstances of your injury, it is in your best interest to consult with a personal injury attorney in Carmel Indiana regarding your situation. Many law offices will provide a free consultation to explore the circumstances of your injuries, the hazardous conditions that led to your injury, and your rights. There is a statute of limitations for any Premises Liability suits in Indiana, so it is recommended that you pursue this case in a timely manner. Read Also : What You Need To Know To Win Your Slip & Fall Case How To Choose A Personal Injury Lawyer

Hagen Rosskopf Explain What to Look for in a Personal Injury Attorney

If an accident had happened which was not your fault and has resulted in your injury, you may be interested in knowing about an interesting form of a lawsuit- Personal Injury. In order for your lawsuit to succeed, it may be necessary to have a qualified personal injury attorney on your side. Hagen Rosskopf explains the basic principles of personal injury law. Most people do not contact personal injury lawyers until they have already been hurt, but it might not be a bad idea to secure the services of a lawyer before the accident occurs. This means you will not have to struggle to find someone in a chaotic time after your injury. This is especially important for workers in high-risk industries like construction. You may feel that you have a low chance of needing a personal injury attorney, but in truth, injuries can happen at any time. Accidental injuries are the third leading cause of death in the United States. Many of these are car accidents, but other types of accidents can also lead to death or serious injury. The Qualifications of a Personal Injury Attorney Personal injury attorneys need to have a standard amount of schooling and training before they can practice. They must attend college and law school. They must also pass their individual state bar exam. Some multi-state tests are also given. The American Bar Association certifies specialty practices. Types of Cases Handled by Personal Injury Lawyers The type of law practiced in personal injury circles is known as “tort law.” Tort law protects people when their person or their property is harmed due to someone else’s negligence. If the tort action is successful, the defendant or their insurance company will have to pay damages to the injured party. Events covered by tort law include personal injury, medical malpractice, and product liability. Most personal injury lawsuits are filed as a result of a car accident, but there is a wide variety of other accidents that could occur. Slip and falls, workplace injuries, animal bites, and injuries that overlap with actions in the criminal court are included. Often, personal injury lawyers focus exclusively on one type of case. Sometimes a lawyer will take on an unfamiliar area, and they will have to consult experts to serve their client well. Insurance Companies and Personal Injury People may feel that their own insurance coverage should be able to protect them in the event of a personal injury. Sadly, this is often not the case. Getting your own money back from the insurance companies can be hard, and they will try everything to avoid paying the claim. This is disheartening, especially when you have been a customer of the insurance company for many years. A quality personal injury attorney will be able to fight the insurance company for you and get the compensation you need. A Personal Injury Case Roadmap Before your lawyer files the case, you will need to sit down with them and determine whether someone else was responsible for the accident. They will help you find a defendant who caused your injury. Your attorney will go over your injury and talk with you about its severity and how it has affected your daily life. They will talk with you about your legal options when it comes to the case. After consulting with you, the attorney will need to do a full investigation. The accident scene, witness testimony, photographs, police reports, records of medical diagnosis, and bills need to be examined in depth. The attorney needs to know how much money you make and how much you have lost as a result of the accident. Medical and accident reconstruction experts may be secured. Experts are also needed to access the information in a vehicle’s “black box” which records speed and driver actions. For the attorney, the next step is creating a demand package. The demand letter will give a complete picture of the financial, physical, and medical facts of the case. This will help to convince the defendant’s lawyer and the insurance company that you deserve financial help. Demand letters are critical to resolving the case. Experienced attorneys write the best demand letters. These will make sure that you get everything you need. Filing Your Lawsuit If your settlement cannot happen out of court, your attorney will need to officially file the lawsuit. Most personal injury cases do not result in a trial, but it is a good idea to be prepared. In the discovery phase of the trial, obtaining evidence is the most important activity. Personal injury attorneys are good at securing information from the other attorney and the defendant’s insurance company. This information can help to cement the case. Judges may take cases under mediation. In this case, the defendant may settle ahead of the trial. If mediation does not work, it has to be decided via a trial. If your personal injury attorney is experienced in court, you will get the best results. Unfortunately, some cases may take years to resolve if the courts are involved. Understanding Personal Injury Law If you are injured in an accident that was not your fault, consult with a qualified attorney. Hagen Rosskopf encourages injured parties to find a quality lawyer in their local area to help them with their case. Read Also: Learn How Personal Injury Claims Are Resolved in 5 Steps How to Find a Personal Injury Attorney On Any Budget 7 Characteristics of a Great Lawyer that can Help Win your Legal Battle

What Is Chapter 7 On Bankruptcy Laws: A Beginner’s Guide

What Is Bankruptcy?

What Is Chapter 7 Bankruptcy?