Bankruptcy

West Virginia.

August 24, 2010

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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 West Virginia 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.

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	News about Bankruptcy in West Virginia and nationwide: Medical Costs Contribute To Fewer Than One In Five Bankruptcies Bethesda, MD -- Data from a much-cited 2005 study show that medical expenses contribute to less than 20 percent of all bankruptcies, far fewer than... Read more > Applicability Of Chapters (a) Except as provided in section 1161 of this title, chapters 1, 3, and 5 of this title apply in a case under chapter 7, 11, 12, or 13 of this tit... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Chapter Thirteen

Definition:
Bankruptcy proceedings for an individual with the intention of rescheduling the individual's debt (rather than liquidating the individual's assets and debt; an individual files under Chapter 7 to liquidate);

Foreclosure

Definition:
Your mortgage lender may start a foreclosure action and sell your home at a Sheriff's sale. If the sale nets less than you owe, there will be a "deficiency balance" that you will own to the lender.

Chapter Twenty

Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.

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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

West Virginia Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Barboursville
Beckley
Bluefield
Bridgeport
Buckhannon
Charles Town
Charleston
Clarksburg
Elkins
Elkview
Fairmont
Grafton
Harpers Ferry
Huntington

Hurricane
Keyser
Logan
Martinsburg
Morgantown
Moundsville
Oak Hill
Parkersburg
Princeton
Saint Albans
Vienna
Weirton
Wellsburg
Wheeling

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