Credit Impact All Cases All Cases –On Credit Report for 10 Years Chapter 7 Chapter 7 –1-3 Year Practical Impact Chapter 13 Chapter 13 –4-7 Year Practical.

Slides:



Advertisements
Similar presentations
Chapter 5 Credit Management
Advertisements

Lesson 8.2 Managing Debt July 2011Copyright © … REMTECH, inc … All Rights Reserved1 Introduction Most of you will acquire debt at some point.
Bankruptcy Test Review. True/False Bankruptcy stays on your credit report for 10 years and decreases your credit score.
Legal Document Preparation Class 9Slide 1 Basic Debtor-Creditor Terminology Debtor: person who owes the money Creditor: person to whom the money is owed.
Creditors’ Rights and Bankruptcy Chapter 16. Secured Transactions Article 9 of UCC A transaction in which the payment of a debt is secured by collateral.
OFFICE OF THE CHAPTER 13 TRUSTEE DEBTOR ORIENTATION HANDBOOK “STRIVING FOR FINANCIAL STABILITY THROUGH EDUCATION” FRANK M. PEES STANDING TRUSTEE.
Bankruptcy and Claims Investigation By Sandy Williams, Jennifer Seidler, and Tonda Lee SmithAmundsen, LLC.
Bankruptcy A Resource Guide for Child Support Professionals ERICSA May 2011.
Copyright © 2004 by Nelson, a division of Thomson Canada Limited CANADIAN BUSINESS AND THE LAW Second Edition by Dorothy Duplessis Steven Enman Shannon.
17 Chapter Ending the Venture McGraw-Hill/Irwin Entrepreneurship, 7/e
Chapter 9 Bankruptcy accounting. 2 Learning objectives of bankruptcy accounting  1. business liquidation  2. the difference between the liquidation.
Comprehensive Volume, 18 th Edition Chapter 37: Bankruptcy.
BANKRUPTCY. COLORADO FILINGS TREASURERER’S RESPONSIBILITIES.
© The McGraw-Hill Companies, Inc., 2004 Slide 13-1 McGraw-Hill/Irwin Chapter Thirteen Accounting for Legal Reorganizations and Liquidations.
Managing Your Debts Section Understanding Business and Personal Law Managing Your Debts Section 22.3 Borrowing Money and Buying on Credit What You’ll.
Ending The Venture Sesi 11 J Entrepreneurship.
Laws Protecting Debtors/Creditors and Bankruptcy Unit C Basic Business Law Objective 6.02 Part D.
Your rights Credit. Your rights Truth in Lending Act (1968) Ensures consumers are fully informed about cost and conditions of borrowing. Fair Credit Reporting.
DEBT What are your options? and What can you do to prevent It? Written by Kindra Watters Georgia CTAE Resource Network 2010.
Legal Aid of Nebraska Lea Wroblewski (402)
Steps to Summarize Bankruptcy By: Destiny S Maria B.
Bankruptcy. Importance of Numbers What do you know about bankruptcy?
WORKING WITH FINANCIALLY DISTRESSED CUSTOMERS Western Hardwoods Association June 26, 2006 Las Vegas, NV.
Solutions to Debt Problems Section 6-7. “Sometimes you gotta wreck the truck, to get the insurance money, to make the truck payment.” -Larry the Cable.
© Oklahoma State Department of Education. All rights reserved.1 Personal Bankruptcy Standard 13.1 Bankruptcy.
MONEY MANAGEMENT II Debt, Counseling & Bankruptcy.
T OPIC 12 Consumer Protection Laws. T OPIC 12: C ONSUMER P ROTECTION L AWS Learning Objectives Describe consumer laws that impact clients, including bankruptcy,
BANKRUPTCY SYSTEM IN INDIA. Bankruptcy is a legally declared inability of an individual or organization to pay their creditors. Filing bankruptcy can.
Bankruptcy. A legal process to get out of debt when you can no longer make all your required payment.
Chapter 31 The Cost of Credit. Interest Calculations - Determining Factors  Interest Rates – The percentage that is applied to your debt expressed as.
Chapter 13 Bankruptcy Does it pay for you to file a claim based on the labor and repayment length?
Got Credit? Bankruptcy Law Debt? Moving Out Grab Bag Know That.
Chapter Three. Filing a Petition After reading this chapter, you will be able to: Describe the “gatekeeper” provisions in individual bankruptcy cases Understand.
5 THINGS EVERY LAWYER SHOULD KNOW ABOUT BANKRUPTCY Laura A. Deeter, Esq.
INSOLVENCY AND DEBT MANAGEMENT ROUNDTABLE Nov Iain Ramsay.
Chapter 9 Credit Problems and Laws. Slide 2 When Is Bankruptcy a Good Choice? Bankruptcy is a legal procedure to relieve a person of excessive debt. It.
Business Bankruptcy Filings Source: Administrative Office of the U.S. Courts.
Phone: (800) Website: Disclaimer: We are not a law firm or attorney. However,
Chapter Seven. Overview of Chapter 7 After reading this chapter, you will be able to: Describe the basic events which occur in all bankruptcy proceedings.
Filing for Bankruptcy Mr. Stasa – WE City Schools © 1.
Business Law and the Regulation of Business Chapter 39: Bankruptcy By Richard A. Mann & Barry S. Roberts.
Bankruptcy 04/09. Bankruptcy What is it? A legal process performed under the Bankruptcy and Insolvency Act. Because of your inability to pay your debts,
McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies, Inc. All rights reserved. Chapter 20 Creditors’ Rights and Bankruptcy.
Credit Problems Garnishment of wages Garnishment of wages Creditor takes all or part of paycheck to satisfy a debt Repossession Repossession Taking back.
Chapter 35 BANKRUPTCY. 2 Bankruptcy Law Jurisdiction over bankruptcy cases is in U.S. district courts, which may refer all cases and related proceedings.
Chapter One. A Short History of Bankruptcy After reading this chapter, you will be able to: Define bankruptcy Understand why the United States Bankruptcy.
Bankruptcy. What is Bankruptcy? A federal court process that can help eliminate legal responsibility for debts or repay them over time under the protection.
Administrative Office of the U.S. Courts Department of Technology Services Official 2015 Bankruptcy Forms in CM/ECF Overview for Attorney December 1, 2015.
Business Law with UCC Applications,13e Bankruptcy and Debt Adjustment Chapter 21 McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies, Inc.
© 2004 West Legal Studies in Business A Division of Thomson Learning BUSINESS LAW Twomey Jennings 1 st Ed. Twomey & Jennings BUSINESS LAW Chapter 34 Bankruptcy.
No Assignments this week!! Just the Discussion board!! Yay – no Homework!!!!
Bankruptcy A Resource Guide for Child Support Professionals 2.
Business Law – week 7 Secured Transactions Bankruptcy Law Quiz Introduction to Employment Law Next Week.
Debt Management Unit VIII: Banking and Credit Lesson 5.
Credit: Buy Now, Pay Later Financial Literacy Mrs. Dayley.
 Introduction  Howard Tagg  About Bankruptcy  After File Bankruptcy  Contact Us.
Jon Bell Kevin Coombs Jeremy Petrus MBA 620 Fall 2002
SINGLE SURVIVAL FAMILY AND CONSUMER SCIENCES MRS. SWOPE
Understanding Bankruptcy
*1 year of on-time payments and permission from the court
Bankruptcy Dr. Jean Lown.
Problem Loan Management
Debt, Counseling & Bankruptcy
© 2005 The McGraw-Hill Companies, Inc. All rights reserved.
Chapter 14 Rights of Consumers, Debtors, and Creditors
Chapter 19 Problems with Credit.
الجوانب القانونية لاعسار الشركات الصغيرة التجربة البريطانية.
HIRE PURCHASE RIGHTS AND REPOSSESSION
Protecting Your Credit
CHAPTER 14 CORPORATE DISSOLUTION © 2010 Delmar Cengage Learning.
Presentation transcript:

Credit Impact All Cases All Cases –On Credit Report for 10 Years Chapter 7 Chapter 7 –1-3 Year Practical Impact Chapter 13 Chapter 13 –4-7 Year Practical Impact

Discharge of Debt Chapter 7 Chapter 7 –Debt Discharged in 4 to 6 Months Chapter 13 Chapter 13 –Debt Discharged upon Final Payment

Non-Bankruptcy Alternatives Bulk Sales Bulk Sales Assignment for the Benefit of Creditors Assignment for the Benefit of Creditors Voluntary Repayment Plans Voluntary Repayment Plans Consumer Credit Companies Consumer Credit Companies

Non-Bankruptcy Alternatives Bulk Sales Bulk Sales Assignment for the Benefit of Creditors Assignment for the Benefit of Creditors Voluntary Repayment Plans Voluntary Repayment Plans Consumer Credit Companies Consumer Credit Companies

Non-Bankruptcy Alternatives Bulk Sales Bulk Sales Assignment for the Benefit of Creditors Assignment for the Benefit of Creditors Voluntary Repayment Plans Voluntary Repayment Plans Consumer Credit Companies Consumer Credit Companies

Non-Bankruptcy Alternatives Bulk Sales Bulk Sales Assignment for the Benefit of Creditors Assignment for the Benefit of Creditors Voluntary Repayment Plans Voluntary Repayment Plans Consumer Credit Companies Consumer Credit Companies

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

A Quick Chronology Consultation with Attorney Consultation with Attorney Complete Questionnaire Complete Questionnaire Review with Attorney Review with Attorney Prepare Documents Prepare Documents Review and Sign Review and Sign Credit Briefing Class Credit Briefing Class Filing of the Case Filing of the Case Notice of Hearing Notice of Hearing Financial Education Class Financial Education Class Meet with Attorney Meet with Attorney Attend a Hearing Attend a Hearing Interim Administration Interim Administration Discharge Discharge

What Happens Next Bankruptcy Packet Bankruptcy Packet –Instructions –Divider Pages –Questionnaire –Disclosures –Bankruptcy Booklets