BrowardBankruptcy.

February 06, 2012

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Bankruptcy News

Undergo Credit Counseling Before Filing For Bankruptcy

Approval Process for Credit Counseling and Debtor Education Courses United States Bankruptcy Administrator Program

United States bankruptcy administrators in Alabama and North Carolina are accepting applications for approval of credit counseling agencies or debtor education course providers as required by the Bankruptcy Abuse and Consumer Protection Act of 2005 ("2005 Bankruptcy Act").

The 2005 Bankruptcy Act requires all individual debtors who file bankruptcy on or after October 17, 2005, to undergo credit counseling within six months before filing for bankruptcy relief and to complete a financial management instructional course after filing bankruptcy.

The 2005 Bankruptcy Act directs the bankruptcy administrator to assess and approve credit counseling agencies and debtor education course providers, according to statuory criteria, and requires the Clerk of Bankruptcy Court to maintain a publicly available list of approved credit counseling agencies and debtor education course providers.

Contact Florida lawyers today and get a free consultation!

Did You Know?

Filing Chapter 11 is known as reorganization
In a chapter 11 case, a liquidating plan is permissible. Such a plan often allows the debtor in possession to liquidate the business under more economically advantageous circumstances than a chapter 7 liquidation.

	Newsroom
	News about Bankruptcy in Florida 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 > U.S. Trustee Program Announces Stipulated Agreement WASHINGTON, D.C.–The United States Trustee Program announced today that it ... Read more > In Pennsylvania, U.S. Labor Department Sues Owner Of Company Gone Bankrupt Philadelphia, Pennsylvania - The U.S. Department of Labor has filed an adversary complaint in federal bankruptcy court against the owner of now def... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Claims

Definition:
Rights to repayment made by creditors against a debtor; they may be liquidated, unliquidated, fixed, contingent, matured, unmatured, secured, unsecured, subordinated, legal or equitable.

Insolvency

Definition:
Another term used to describe a firm that is failing; generally it means that a firm's liabilities exceed its assets or that it is unable to satisfy its obligations as they come due.

Forbearance and Repayment

Definition:
The most common way of resolving a loan default is to work out a plan which will let you repay part of the delinquency each month, along with you regular monthly installment.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

Florida Bankruptcy Attorney

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Tampa
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Winter Springs

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