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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Special purpose entities in bankruptcy can be used
A business, usually a special-purpose entity, established to perform limited functions and to have one or a few primary creditors. This type of entity is sometimes established to protect lenders on large, complex projects, when the lender is to be paid solely or almost exclusively out of the money generated when the project becomes operational.
Newsroom
News about Bankruptcy in Baltimore and nationwide:
Bankruptcy Filings Rose in March 2006
May 26, 2006 — The number of bankruptcy cases filed in federal courts rose 12.8 percent in the 12-month period ending March 31, 2006, according to ... Read more >
Applicability Of Chapters
(a) Except as provided in section 1161 of this title, chapters 1, 3, and 5 of this title apply in a case under chapter 7, 11, 12, or 13 of this tit... Read more >
Definition:
An agent of the court who manages the property of the debtor for the benefit of the creditors. The court appoints a trustee in most Chapter 7 cases and in Chapter 11 cases when it determines that the debtor's management should not remain in control.
Garnishment Laws
Definition:
Unsecured creditors in relation to garnishment laws do not hold any collateral that they can take from you if you fall behind on your payments.
Chapter Seven
Definition:
Liquidation proceedings; generally assets are sold by a trustee and the company ceases operation. (Individuals may file Chapter 7 also.)
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Annapolis
Baltimore
Capitol Heights
Catonsville
Columbia
Cumberland
District Heights
Dundalk
Elkton
Ellicott City
Essex
Fort Washington
Gaithersburg
Germantown
Glen Burnie
Gwynn Oak
Hagerstown
Hyattsville
Lanham
Lutherville Timonium
Middle River
Nottingham
Owings Mills
Parkville
Pasadena
Potomac
Rockville
Silver Spring
Sykesville
Temple Hills
Upper Marlboro
Westminster
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