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In the personal bankruptcy there is a cost associated with filling the paperwork. For Chapter 13 Bankruptcy there is a fee of $281 and for Chapter 7 Bankruptcy it is $306. [1] Additionally there can be other payments required, like Lawyer's fee, Conversion fee, Credit counselling and debtor education fee. [2] [3]
Patrick C. Shea is an attorney in California. He was the federal court-appointed attorney that represented 170-plus municipal entities [ 1] with investments of over $5 billion in the Orange County, California Chapter 9 bankruptcy. [ 2] On December 6, 1994, the County of Orange declared Chapter 9 bankruptcy, from which it emerged in June 1995.
The 2000–2001 California electricity crisis, also known as the Western U.S. energy crisis of 2000 and 2001, was a situation in which the U.S. state of California had a shortage of electricity supply caused by market manipulations and capped retail electricity prices. [10] The state suffered from multiple large-scale blackouts, one of the ...
However, a standard guideline is that $10,000 or more in debt is enough to consider filing. This is because filing for bankruptcy costs money, and if you have a smaller debt, it may not be worth ...
A Chapter 7 is generally best for those with minimal disposable income, few assets and a significant amount of dischargeable debt. Chapter 13 bankruptcy (debt restructuring): A Chapter 13 ...
Declaring bankruptcy may be the best solution if all the following are true: You have large amounts of unpayable debt. You are already at risk of losing essential assets — such as your car or ...
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