What is Bankruptcy Proof of Claim Court and How Does it Work?
It’s not a great moral sin to go into bankruptcy. Just look at the seminal American department store chain K-mart. They went bankrupt in 2002 and rebounded just 15 months later. When you (or K-mart) declare bankruptcy, you are given an opportunity to try to get your life back on track without the people that you owe money breathing down your neck. In the old days, if you couldn’t pay your bills, you were thrown into debtor’s prison. Believe it or not, going through bankruptcy Proof of Claim court is better than going to prison. The Last Resort Declaring bankruptcy will stay on your credit record for ten years, so be sure this reality is something you can live with. Bankruptcy Proof of Claim court’s rules and regulations differ from state to state, but the only state you need to worry about is the state you live in (or your primary state of residence.) You can do deal with the Proof of Claim court on your own or you can hire a lawyer. If you are not familiar with bankruptcy Proof of Cla
Related Questions
- How much would I have to earn for income for a court to try to convert a Chapter 7 bankruptcy to a Chapter 13 bankruptcy?
- I received a Notice of Commencement of Case in Chapter 7 or Chapter 13 from the U.S. Bankruptcy Court, is it important?
- What is Bankruptcy Proof of Claim Court and How Does it Work?
