Discharging Medical Debt Through Chapter 7 - Chapter 9 Bankruptcy

Many people are of two camps when it comes to handling medical debt through bankruptcy.? People in the first camp are of the persuasion that medical debt can?t be discharged through bankruptcy.? These people have usually been persuaded by unethical hospitals or insurance companies that don?t want to lose money.? People in the second camp know or believe that medical debt can be discharged through Chapter 7, but think they?ll lose everything they own.
Source: ciminobenham.com

Video: Spec Ops The Line Walkthrough ? Part 7 [Chapter 7] ? The Battle Let?s Play PS3 XBOX PC

Exemption property in Chapter 7 bankruptcies

Some states, such as the one in which they reside, have exemptions for certain types of assets such as jewelry. In these states it may be possible to recover property of that type that is worth an amount within what is exempted. Despite the existence of this exemption, the couple is nonetheless requesting to pay for it with leftover proceeds from a sale of real estate. The request has been forwarded to a judge.
Source: miamibankruptcylawfirmblog.com

Chapter 7 bankruptcy numbers positive for Arizona

Some encouraging news has been released regarding the status of the United States economy. A recent report has stated that bankruptcy filings for businesses, which include those seeking Chapter 7 protection, have declined in the last 12 months. However, despite the decline, the numbers still indicate that there remain a large number of individuals and businesses in Arizona and elsewhere who seek the protection of bankruptcy each year.
Source: ellettlaw.com

Does a Chapter 7 bankruptcy stop a foreclosure sale

In the world of public finance, Orange County, California, has long had an unfortunate distinction: In 1994, the county filed the largest municipal bankruptcy declaration in history, seeking court assistance to restructure $1.7 billion in debt. This month, however, Orange County finally lost its dubious claim to fame. On November 9, political leaders in Jefferson County, Alabama ? home of Birmingham, the state?s largest city ? asked a federal bankruptcy court to help the county restructure debt of more than $4 billion. The county?s debt burden stems from a disastrous investment in a local sewer system and amounts to nearly $7,000 for each of the 658,000 men, women and children who call the county home. That a bankruptcy declaration of such magnitude is possible has raised alarms nationally over whether more municipal crises may be on the way. In this explainer, Stateline examines what it means when a municipality files for Chapter 9 bankruptcy ? and why states should care. What is Chapter 9? It?s the portion of the federal bankruptcy code that applies to municipalities. Created by Congress in 1937, it allows municipalities to seek court protection in the event of fiscal crisis and is meant to ensure that basic government functions can continue while policy makers restructure their debt. Chapter 9 differs from other sections of the bankruptcy code, such as Chapter 11 and Chapter 13, which generally provide court relief to cash-strapped businesses and individuals, respectively. Who can file for Chapter 9? Only municipalities ? not states ? can file for Chapter 9. To be legally eligible, municipalities must be insolvent, have made a good-faith attempt to negotiate a settlement with their creditors and be willing to devise a plan to resolve their debts. They also need permission from their state government. Fifteen states have laws granting their municipalities the right to file for Chapter 9 protection on their own, according to James Spiotto, a bankruptcy specialist with the Chicago law firm of Chapman and Cutler. Those states are Alabama, Arizona, Arkansas, California, Idaho, Kentucky, Minnesota, Missouri, Montana, Nebraska, New York, Oklahoma, South Carolina, Texas and Washington. The remaining states all want a say in the process, in some cases requiring that municipalities receive state approval before they file. One of those states, Pennsylvania, is now in the process of challenging the bankruptcy declaration made by its own capital city, Harrisburg, in October. Georgia is the only state that does not allow its municipalities to file for bankruptcy under any circumstances. Georgia municipalities in severe fiscal trouble ?are left to work things out within the state political system,? says Paul Maco, a municipal bankruptcy expert and partner with the Vinson & Elkins law firm in Washington, D.C. That could include asking the legislature for emergency funds. States have plenty of serious fiscal problems, too. Why can?t they file for bankruptcy? States have not been granted that authority by Congress, nor have they sought it. The idea of allowing state bankruptcy was floated earlier this year by Newt Gingrich, the former U.S. House speaker and current presidential candidate, and Jeb Bush, the former Florida governor. In a Los Angeles Times op-ed, the two Republicans argued that bankruptcy would be a way for strapped states such as California and Illinois to tackle their enormous debts, particularly for public pensions and other retirement benefits. State leaders from both parties repudiated the idea. ?The mere existence of a law allowing states to declare bankruptcy only serves to increase interest rates, raise the costs of state government and create more volatility in financial markets,? Nebraska Governor Dave Heineman, a Republican, and Washington Governor Chris Gregoire, a Democrat, said in a joint statement. The last time any state came close to bankruptcy ? by defaulting on its loans? was during the Great Depression, when Arkansas racked up $160 million in debt on what was then a $14 million annual budget. How common are municipal bankruptcies? Very rare. Since 1937, when Congress added Chapter 9 to the federal bankruptcy code, about 620 municipalities have filed for bankruptcy. That?s fewer than 10 a year. In the last year alone, by comparison, there were nearly 12,000 bankruptcy filings under Chapter 11 and 418,000 under Chapter 13, according to the administrative office of the U.S. Courts. Most municipalities that do file for bankruptcy are special tax districts and small jurisdictions that do not issue public debt. Municipal utilities are a common example. What happens once a municipality files for Chapter 9? Municipal finances move into the jurisdiction of the courts, but not in the way that corporate or personal finances in Chapter 11 or Chapter 13 cases do. Under those sections, courts have broad leverage to control the finances of the company or individual to chart a path forward. In addition, creditors have more leverage, such as by foreclosing on the home of a bankrupt individual. In Chapter 9 bankruptcy, creditors cannot, for instance, foreclose on a municipal building to recoup the money they are owed. More importantly, the courts themselves have no authority to make spending or other policy decisions on behalf of the municipality. That power remains with the locality under the U.S. Constitution. Under Chapter 9, municipalities must come up with their own debt restructuring plans, and courts approve or reject it with input from other stakeholders. Source: stateline.org Source: filebankruptcyco.com Source: filebankruptcyco.com Source: businessbankruptcyco.com Source: bankruptcylawyersco.com Source: bankruptcycaliforniaco.com Source: debtreliefmag.com Source: debtreliefmag.com Source: debtreliefmag.com Source: foreclosureattorneyco.com Source: posterous.com Source: foreclosureattorneyco.com
Source: foreclosureattorneyco.com

An Oxfordian Journal: Chapter 7: A ?Life? of Shakespeare: Painting the Portrait of a Ghost

Inevitable, sure! ?I bought it, too! ?And on the same page we find that ?how much this study of native and foreign literature contributed to his rapidly developing genius cannot well be estimated, but its influence is quickly apparent, for almost at once he turned his pen to imitation, and produced works that placed his name in the front rank of contemporary artists.??[My emphasis again] ?Okay, okay!? No information about his creative process here, but, hey, how would I know Adams was trying to figure out (and then describe) how the wrong guy was the right guy? ?I mean, for an honest scholar to do that must have taken a lot of intelligence and determination. ?Seriously.
Source: wordpress.com

I Discharged Chapter 7, Can My Sister Sign My New Loan As A Co

Q: I had a question I discharged Chapter 7, 8 months ago and i am trying to buy a house before the 2 year rule for FHA, can my sister go on the loan as a non-occupying co-borrow? ?Anonymous, Los Banos, CA A: After a bankruptcy you do have to wait the allotted period depending on FHA or Conventional guidelines. Your sister cannot be a co-borrower on the loan because her credit rating will not help you qualify for the loan. You both have to be credit worthy and verifications of your employment are needed to qualify for a mortgage. Sandy Straley is a Realtor? in Layton, UT.
Source: propertyrazzi.net

Miracleman, Chapter 7: The Mike / Liz / Miracleman Love Triangle

Human emotions, of course, are ?tangled? and ?twisted.? We think of eking out advantages, even over those we love, and intermix that love with myriad petty resentments. But Miracleman presumably doesn?t do the ?washing up.? He?s above such trivial concerns. He leaves those things to Mike Moran. He may be superior in many ways, even less prone to neurosis, but he also has the privilege of avoiding the kinds of chores that can define the quotidian life he flies above. This too is part of the super-hero?s appeal; we rarely see them, or fictional heroes in general, cleaning or taking care of kids. At least part of the escape they offer is an escape from the daily grind.
Source: sequart.org

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4. Try discussing medical debt with hospital before bankruptcy
5. Medical expenses driving credit card debt for some

Source: http://chapter9bankruptcyco.com/discharging-medical-debt-through-chapter-7/

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