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Bankruptcies.(list of cases)

Chapter 7--Straight bankruptcy; debtor gives up non-exempt property and debts are discharged.

Chapter 11--Business regoranization; protection from creditors while business devises a plan of reorganization. Income/expense reports must be filed monthly.

Chapter 13--Plan is devised by individual to pay a percentage of debt based on ability to pay. All disposable income must be used to pay debts.

Chapter 7

Steven Jay McKenzie, 1640 Peace Portal Dr., Blaine. Filed March 29.

James Melzark, Ana Melzark, 3016 W. Maplewood, Bellingha

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  • What Is Meant by "Straight" Bankruptcy?
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    • Discharged debts (i.e., old debts that a debtor is no longer required by law to pay) offer business owners a chance to start over. Most, but not all, debts incurred prior to declaring bankruptcy are dischargeable, including business debts, back rent, and credit card bills. The discharge operates as a ......
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    • The fate of a corporation in bankruptcy - whether it goes out of business or is reorganizing in order recover from crippling debt - is determined by federal bankruptcy law. The bankrupt corporation (i.e., "the debtor") can use Chapter 7 of the Bankruptcy Code to liquidate or Chapter 11 to ......
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    • There are four different types of bankruptcy proceedings that apply to most business and individual situations in the United States (a fifth, Chapter 9, is used by towns or municipalities that cannot pay their debts, and a sixth, Chapter 15, addresses ancillary and other cross-border cases which are beyond the ......
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    • Whether you are a debtor or a creditor, the terminology used in bankruptcy can be confusing. Here is a glossary of frequently used terms: ......
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    • Understanding which debts are dischargeable under the various forms of bankruptcy can be like trying to navigate a minefield. Read our overview to map out the dangers and tricks involved.
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    • The process of turning a company around after going through a bankruptcy can be daunting, even when the necessary changes are not complicated in themselves. It's important to remember that bankruptcy laws favor the debtor. Bankruptcy offers a chance to wipe the slate clean and start over by providing protection ......

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