Know The Way That The Connecticut Bankruptcy Court Works

Know The Way That The Connecticut Bankruptcy Court Works

The main reason why people are often forced into filing for bankruptcy is that their present financial condition has become so bad that there is little if any hope that they will be able to continue to repay their debts on time. However, filing for bankruptcy is more than simply proclaiming that you are bankrupt because it is the court that will rule on the matter and in fact the Connecticut Bankruptcy Court is a good example of how these bankruptcy courts actually work in dispensing claims.

The Connecticut Bankruptcy Court includes several courts that are situated in different locations in the state including towns such as Hartford, Bridgeport and New Haven. For more information regarding the Connecticut Bankruptcy Court you need only visit their website where you will get every piece of relevant information regarding addresses as well as contact info related to the different courts.

Bankruptcy Lawyers

If there is no other option than to file for bankruptcy with the Connecticut Bankruptcy Court you will then, in most instances, need to also hire a good bankruptcy lawyer who will represent you at the Connecticut Bankruptcy Court hearing till the final decision is made by the bankruptcy judge. Fortunately, it is easy to find Connecticut Bankruptcy lawyers though before you hire a particular individual or firm makes sure to deal only with someone that is trustworthy and reputable which will ensure a fair representation of your case and that in turn will mean improving the chances of getting a favorable decision.

If you are an individual filing for bankruptcy at the Connecticut Bankruptcy Court you will of course first need to decide whether to file for Chapter 7 or Chapter 13 bankruptcies. The former type of bankruptcy is known as “Straight Bankruptcy” while the latter is known as “Wage Earners Bankruptcy”.

You need to also be aware of recent changes that were made in October in the year 2005 when the Chapter Seven laws in the Connecticut Bankruptcy Court were amended in order to simplify the process of filing a case for bankruptcy. This means that now the Connecticut Bankruptcy Court will apply a test to identify the appropriate category in which you should file for bankruptcy.

Furthermore, the changes made to bankruptcy Chapter 7 laws also require that anyone thinking about filing for Connecticut Bankruptcy should first have sought and obtained credit counseling and only after this condition has been satisfied can the person file for bankruptcy.

To learn more, check out bible study topics at www.christianteenworld.com

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Avoid Confusion And Learn How To File Bankruptcy

Avoid Confusion And Learn How To File Bankruptcy

When it involves understanding how to file bankruptcy most people are at first confused mainly on account of ignorance. After all, not too many people know about things such as Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) that came into being in the year 2005. Without knows how to file bankruptcy it would be impossible to understand the essential requirements as well as restrictions related to filing for bankruptcy and this in turn means that without being aware about how to file bankruptcy the whole process can become very daunting.

Ask A Bankruptcy Lawyer

The best person to assist you with learning how to file bankruptcy is a bankruptcy lawyer and though it is not really essential that you hire a lawyer to help you with filing for bankruptcy, having them on your side is certainly a good idea. Unless you are absolutely sure about how to file bankruptcy you will not be able to file for bankruptcy effectively and so you won’t get to reap its advantages.

BAPCPA is complex and it can put you, the debtor, under considerable stress in dealing with filing for bankruptcy. It is therefore a good idea to learn how to file bankruptcy and only after you know the intricacies involved, or hire a lawyer can you then expect to derive any advantage from filing for bankruptcy. You will also need to learn a lot more about how to file bankruptcy than just the restrictions as well as requirements of BAPCPA because there are several different kinds of bankruptcies to consider as well. There are Chapters seven, nine, eleven, twelve, thirteen and fifteen that need to be understood with chapters seven and thirteen suitable only for individuals while those others pertain to partnerships, businesses as well as farmers and even corporations.

Another aspect to understanding how to file bankruptcy is learning about BAPCPA and how it its necessary to undergo a ‘means’ test which is a tool (financial) that helps determine a debtor’s median income. Once this test is applied and the debtor’s median income computed; this income is then compared to the average income in the state in which the debtor lives. After comparison, a figure is arrived at that helps determine the exact amount of debt that the debtor needs to repay.

Also, in case a debtor that has filed for bankruptcy fails to comply with the terms of the bankruptcy the creditor can petition for dismissing the petition which will then rob the debtor of protection from bankruptcy laws and it can then lead to unpleasant consequences including foreclosure.

The last important aspect to learning how to file bankruptcy is understands the process of bankruptcy that includes, among other things, having to file the bankruptcy petition in a court of law.

To learn more, check out bible study topics at www.christianteenworld.com

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