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Dow Jones Reprints: This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers, use the Order Reprints tool at the bottom of any article or visit www.djreprints.com ECONOMY JANUARY 7, 2010, 12:14 P.M. ET The number of Americans filing for personal bankruptcy rose by nearly a third in 2009, a surge largely driven by foreclosures and job losses. And more people are filing for Chapter 7 bankruptcy, which liquidates assets to pay off some debts and absolves the filers of others. That is significant because a 2005 overhaul of federal bankruptcy ...
from a qualified and experienced attorney. This could assist him to have a thorough understanding of the federal and the state bankruptcy rules that apply to chapter 7 and even in preparing the documents required to be furnished along with the petition under existing bankruptcy law. By filing a chapter 7 in the bankruptcy court, a debtor can get a discharge for his debts subject to his getting qualified for the liquidation of assets. But in any case, a bankruptcy filer stands to lose non-exempt property that includes stocks, bonds, and savings in cash or such other valuable belongings. ... Read More
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