It was recently announced that Carmel, Indiana-based, for-profit college operator, ITT Educational Services Inc. will be unloading its assets, shutting down 130 campuses nationwide, and filing for Chapter 7 bankruptcy.
In all forms of bankruptcy, a bankruptcy trustee typically oversees the bankruptcy filing. Below we discuss what a bankruptcy trustee oversees specifically in a Chapter 7 bankruptcy filing.
Bills have been piling up and you have no idea how you’re going to pay them. Should you declare bankruptcy?
Bankruptcy is a great way to discharge debt so that you can move forward with a clean financial slate. It’s proven to be an effective tool for both consumers and businesses, but it’s important to know that bankruptcy is not the same for consumers and business.
Before a debtor can be considered eligible to file Chapter 7 bankruptcy he or she must first pass the “means test.
Filing for Chapter 7 bankruptcy can feel overwhelming, but the process is actually fairly straight-forward. As always, it’s advised that you work with a bankruptcy attorney to help guide you through the process.
Bankruptcy happens all around the world, but interestingly enough, it takes different forms. Below we compare and discuss the bankruptcy processes of Australia, the UK, and the US.
If you’re facing large amounts of debt, and are considering bankruptcy, you’ll want to have an understanding of the types of bankruptcy available to you.