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


26 June 2021


Bankruptcy Laws

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?

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?

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?

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.


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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I enjoy writing and I write quality guest posts on topics of my interest and passion. I have been doing this since my college days. My special interests are in health, fitness, food and following the latest trends in these areas. I am an editor at Content Rally.

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Personal Injury Lawsuit

Filing A Personal Injury Lawsuit In South Carolina: Here Are 7 Things You Should Know

Medical negligence, car accidents, defective products, dog bites, slip and fall injuries… The list of personal injury accidents can go on and on. The thing that should be noted is that all the above-mentioned accidents can result in grievous injuries. While some of them might not be fatal, it is true that a lot of individuals lose their lives every year in personal injury cases. If you are looking to file a personal injury lawsuit in the state of South Carolina, you should be aware of the facts. This is because the rules and regulations governing the administration of personal injury lawsuits differ from state to state. If you are not aware of the specifics of filing one in South Carolina, you might not get the desired solution in the form of settlement claims or compensation you are looking for. This is going to cause an unnecessary financial burden on top of the turmoil you are going through. In this resource article, we are going to list seven important things you should know when filing a personal injury lawsuit in the state of South Carolina. If you or someone you know is looking to file a personal injury claim, you should check out what we have to say in the article. Filing a Personal Injury Lawsuit: Is it absolutely necessary? The first thing that you should note is that there is a difference between a personal injury claim and a lawsuit. If you have been injured because of the irresponsible actions of someone else, you need not file a lawsuit right at the beginning. This is because, in most instances, the insurance company of the person responsible for the accident and the consequent injury will help you with the compensation amount required. Yet, it has been found that in a majority of cases, insurance companies have been found to strongarm victims into accepting lower amounts of compensation than they are rightly entitled to. The reason is simple- every time an insurance company pays, it compromises its profits. You should be looking to file a personal injury lawsuit if- You find that the insurance company is purposely delaying the disbursal process for the compensation. The person responsible for the accident is hesitant to share their insurance details with you. The extent of damages is far beyond what the insurance company can pay as part of its coverage. In such instances, you need to hire a personal injury attorney South Carolina and take the case to court to help you get what you deserve in terms of the losses suffered. 7 Things you should know when Filing a Personal Injury Lawsuit in South Carolina:   1. Hiring a Personal Injury Attorney- Studies have shown that individuals that lawyer up when filing a personal injury lawsuit are able to recover far more than people who go at it alone. This is why the first thing you should do when you want to move the case from a claim to a lawsuit is to hire an experienced personal injury attorney for your case. This will allow you to focus on getting better physically. 2. South Carolina has a Statute of Limitations- The period of filing a personal injury lawsuit in the State of South Carolina is fixed. The term period for the same is 3 years from the date of the accident. You need to file a personal injury lawsuit within the three-year period, or it will not be entertained by the courts thereafter. Make sure that you are not delaying it indefinitely since it sends the wrong message to the court. 3. Never sign anything given to you by the Insurance Company of the accused- You have no idea about the extent insurance companies can go to save their skin. They do not want to pay up. This makes them resort to unfair means like asking you to sign complicated paperwork that might compromise the integrity of the personal injury case. It is best that you refer all official documents sent to you by the insurance company to your attorney. 4. A Personal Injury Lawsuit can be won even before the start of the court proceedings- Yes, there are two main ways how you can win a personal injury lawsuit. When you file a case, the lawyer and insurance company of the accused will try to get the case settled before it goes to trial if they believe it will help them minimize the settlement amount. On the other hand, a case can go to the Jury for their decision, and whatever the court orders will have to be paid. 5. The point of a Personal Injury Lawsuit is to Fix Fault or Negligence- There is only one way to get the settlement compensation you want- fix negligence. You need to prove that the accident and the subsequent injuries were squarely the faults of the accused. In other words, it was their negligence that resulted in you receiving injuries and spending time in the hospital. This is what will help you get the maximum traction for your lawsuit. 6. Gathering evidence and building a solid personal injury lawsuit is a top priority- In most personal injury lawsuits, it all boils down to the nature of the evidence that is being presented in support of your claims. This is where an experienced personal injury attorney and their team of investigators can prove to be an invaluable asset for your lawsuit. They will be able to gather evidence whose examination will be able to establish the guilt and negligence of the accused. 7. Personal injury lawsuits can drag on for months and be very time-consuming- Yes, it is true that some personal injury lawsuits are settled within a month, whereas others can run for one or even two years. There is a certain sense of the complexity involved when it comes to personal injury lawsuits. You need to be prepared for the long haul if you want to see this through. Make sure that you pay attention to the fees for your personal injury attorney. The Final Word When it comes to personal injury lawsuits and the claim amount, it is not only about helping you pay the medical bills. If the injury is serious, you need to ensure that the compensation that is being offered makes up for lost wages, takes care of the medical care you need during the recovery stage, and more. If you have any more questions regarding personal injury lawsuits in the State of South Carolina, please let us know in the comments section below. Read Also: What Personal Injury Law in California Involves What Are The Effective Ways To Communicate With A Personal Injury Lawyer Road Accidents And Personal Injury Lawsuits: How To Fight For Compensation

Immigration Lawyer

5 Things to Consider While Hiring an Immigration Lawyer

Hiring an immigration lawyer in the USA can help you in getting some benefits from the immigration application. You may not receive the immigration benefits if you do not seek the assistance of an experienced lawyer. There are several things that you need to consider while you seek the assistance of an immigration lawyer. You cannot ignore the fact that immigration policies are very tough to handle. You alone cannot handle the issues related to your immigration approval. But before seeking the assistance of an immigration lawyer, you must cross-check several factors that may bother you later. If you want any trusted assistance, then the lawyers of a top flight immigration lawyer can help you. Therefore, before seeking the assistance of an immigration lawyer, you must consider specific essential points. Five things to consider before hiring an immigration lawyer:-  There are several things that you need to consider before seeking the assistance of an immigration lawyer. Therefore let’s explore the facts one after the other to get a better insight into it. 1. Legal fees:- Most of the people have their own estimated household budget. They need to decide whether it is feasible for them to hire an immigration attorney or not. Some of the attorneys charge clients depending on hours, and some charge on some flat rate. You need to understand the fee structure of your attorney and what types of services that fee structure will cover. Hence, before hiring an attorney, you must consider this important fact in advance. 2. Expected immigration application time frames:- You must know it clearly that when you can expect your immigration application to be filed with the US government. Once you provide all the necessary documents to your attorney, he must provide you a definite time frame for the completion of the filing of your application. For example, suppose you have submitted all the necessary documents to file a Green card application. In that case, your attorney must provide you a definite date when all the filing processes will be over. You must not wait months after months for filing your Green card. 3. Client Contact:- Your attorney must contact you regarding your immigration application status as and when there will be any update. The reason for this is your immigration application will affect your entire life. Hence, your attorney must contact you whenever necessary. Otherwise, it can cause massive damage. Your attorney must be available whenever you need him; otherwise, it is the time to change your lawyer 4. Familiarity with the case:- Most of the immigration cases revolve around family-based immigration, employment-based immigration, and asylum cases. You need to identify the fact that your attorney has handled your type of immigration case before or not. Hence, it would help if you were a bit proactive in understanding whether your attorney can handle immigration properly on your behalf. It would help if you cross-checked that fact properly. 5. Do your attorney ever been disciplined by the state bar:- You must crosscheck the fact that whether your attorney previously was alleged to make a false commitment to his clients by the state bar or not. In simple words, you must cross-check the reputation of your attorney properly. Hence, try to make the right choice of attorney for your immigration application. Conclusion:-   Hence, before trusting any attorney for your immigration application case, you must cross-check the facts about your attorney's reputation. Your case's experience, expertise, and knowledge must be there in that person you choose as your immigration lawyer. If you wish, you can also crosscheck your attorney's records to make a wise choice. You need to understand the fact that your attorney must act promptly while you file an immigration application. Read Also: Tips and Tricks to Hire the Best Lawyer for Your Case Top 5 Ways to Avoid Canada Immigration Consultancy Frauds

truck accidents

Understanding Truck Accidents in Indiana

There has been an exponential rise in road accidents in the past years. With all the modernized rules and standardization of traffic laws, roads should be safer, but still, it is otherwise. The vehicle that is mostly caught up in these hazardous activities is trucks. It is mainly because this works as loaders and these humungous structures are very hard to control.  We will be covering the truck accidents in Indiana and all the statistics, laws, and claims related to them in this article. According to leading legal experts at Craig, Kelley & Faultless trucking accidents are complex personal injury lawsuits. The simple reason is that you a victim are going up against big trucking companies and insurance companies. These organizations employ some of the best legal minds that use all their skill and resources to deny compensation claims. You need a legal expert that has prior experience of going up against such bigwigs if you have a chance at just and fair compensation claims. So, what are the common causes of truck accidents? The most common reasons behind these accidents include speeding, visibility issues, distracted driving, and brake failures. The statistics also showed that a large number of these accidents were caused by the trucks following each other too closely and due to unsafe lane movement. A study was done by Federal Motor Carrier Safety Administration to find out the reasons and issues related to truck accidents and it was deduced that the most common of these reasons was overspeeding. The drivers, most of the time, were driving rashly without keeping an eye on the road. ‘Truck drivers are in general found to be faster than normal cars by a margin of 50 percent, The Large Truck Crash Causation Study states. The study also shows that in the recent 963 crashes, 1123 large trucks were involved and 959 motor vehicles, which were not large trucks, were also involved. How is Indiana Affected by Truck Accidents? In Indiana, truck mishaps resulted in more than 1500 injuries and 249 fatalities. The release of the study, involving the truck crashes in Indiana, showed that a total of 16,873 collisions happened in Indiana out of which the trucks were involved in 14709 crashes. The trucks were also involved in 91 percent of the collective fatal collisions. How Do the Law Agencies Help You in Truck Accidents? The laws involving truck accidents cover the injuries, which a person suffers when a collision from a commercial truck happens. The commercial vehicle enforcement unit is dedicated to removing all the unsafe trucks from the roads so the number of trucks can be reduced on the road. Commercial enforcement also ensures vehicle size and weight standards. States must follow the commercial vehicle standard weight and size given by the federal government. These laws are created so that the public is made safe from these injuries. The loss because of the negligence of the other party can be hard and devastating. This is why you need lawyers so that they can fight for your legal rights after a truck accident. The chapman injury law firm is popular for helping out people in this crisis. Chapman injury lawyers provide the best support to the victims. How Can I Claim After a Truck Accident? A claim after an injury from a truck accident can grant you four of the main facilities. These include obligations, medical treatment, injuries, and insurance money. The driver is seen guilty if at least he was 50% obligated for the accident. The compensation can be reduced due to the overall fault of the driver. Similarly, the number of injuries and medical treatment also adds up to the claim value of the victim.  If the death was involved in the accident then Indiana law allows the recovery of about $300,000. The money is received by the surviving patients of the victim's family. Read Also: Along For The Ride: Passenger Rights In Vehicle Accidents Overcrowding In Cities Causes Increase Road Traffic Accidents 4 Reasons Why You Should Hire A Car Accident Lawyer