Bankruptcy Fraud Statistics
| Bankruptcy fraud has become the most common type of fraud in the United States. At the same time, several people misunderstand the meaning of bankruptcy also. |
The main reason why people are stooping to such low levels, and cheating the financial institutions is the current economy.More...
What Is Bankruptcy Fraud ?
These days, words like bankruptcy and bankruptcy fraud have become synonymous with debt and recession. Everyone you know is filing a bankruptcy claim, and it has become very difficult to identify who is having real problems. However, as per the United States Laws, bankruptcy fraud is a crime. Bankruptcy is a legal process meant to help people who have debts. If a person has several debts and is clearly unable to pay, they can approach the court and file for bankruptcy.More...
Bankruptcy Fraud And Cash Advances
Bankruptcy has become very common in the United States. People are just taking the economy for granted, and filing for bankruptcy even when it is not required for them. Several people are using bankruptcy as an excuse from debts. In fact, not everyone is in a bad shape due to the recession.More...
Chapter 11 Bankruptcy Fraud
Bankruptcy can be filed for in the court in three ways -- Chapters 7, 11 and 13. Each one has its own benefits, circumstances and conditions. Any person filing for any of these types to bankruptcy has to fill up a plethora of forms, and it is quite vigorous. Chapter 11 is best suited for people or businesses that have to be reorganized. For example, if a certain business is unable to pay its creditors, it can file for bankruptcy under Chapter 11 or Chapter 7.More...
Chapter 13 Bankruptcy Fraud
If a person files for Chapter 13 bankruptcy, then they have the intention to repay the debts under better terms like reduced interest or lower monthly payments. Filing for Chapter 13 bankruptcy clause is allowed for a person who has a regular income. The whole idea behind processing this law is to allow the debtor to restructure his debts and pay off the creditors.More...
Hotline To Report Bankruptcy Fraud
Filing for bankruptcy has become a very common thing, and every other person wants to do it these days. Some are being advised by their own attorneys so that they can escape making huge payments. There is no discretion anymore as to who should file for bankruptcy and who should not. As long as anyone can manage the paperwork, they are all eligible.More...
Statute Of Limitations And Bankruptcy Fraud
Every law has its limitations, and so does bankruptcy fraud. There are several ifs and buts to the functioning of bankruptcy clause. Here are some of them.More...
Types Of Bankruptcy Fraud
Bankruptcy is a state of affairs that is declared by the debtor to the creditors saying that he or she has no money left with them and cannot repay the debts. They are declaring themselves as legally insolvent. There are several options within bankruptcy like the assets of the person are legally divided so that the debts can be paid off. In other cases, the legal assets are protected, and debts are paid periodically and systematically.More...
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