Category: Uncategorized
What You Can Learn from Abraham Lincoln’s Bankruptcy
Did you know that Abraham Lincoln filed bankruptcy? He was only 24 years old and not yet famous. He and a business partner bought a...
What is a Chapter 7 Discharge? | Nebraska Bankruptcy Lawyer
In Nebraska, a Chapter 7 discharge, also known as a straight or liquidation bankruptcy, is a court order releasing a debtor from all of his...
What You Need to Know About the Meeting of Creditors
The meeting of creditors is a crucial step in the bankruptcy process. This meeting allows creditors to present their claims against the individual filing for...
The Role of a Bankruptcy Trustee
In a Chapter 7 bankruptcy, nonexempt assets are sold and the funds are used to pay creditors. A trustee is the person who oversees this...
Timeline for a Chapter 7 Bankruptcy Case
A successful Chapter 7 case begins with the filing of the bankruptcy forms and ends with the closing of the case by the court. The...
Turning Property Over to the Bankruptcy Trustee
If you are required to turn your property over to the bankruptcy trustee, it is usually sold and converted to cash. This is used to...
Requirements to File Chapter 7 Bankruptcy
To prevent abuse of bankruptcy protections, Nebraska has strict guidelines that determine when you can file a Chapter 7 bankruptcy. A person is not permitted...
Presumption of Abuse in a Nebraska Bankruptcy Case
When a Chapter 7 case is filed by an ineligible person, under bankruptcy terminology that person is said to have abused the Chapter 7 laws. ...
Qualifications for Filing a Chapter 7 Bankruptcy
Any person who resides in, does business in, or has property in the United States is permitted to file a Chapter 7 bankruptcy case—except a...
Repaying Dischargeable Debts
Although most people choose to list all of their dischargable debt in a bankruptcy filing, you are not obligated to do so. A person may...
Obligations to a Bankruptcy Trustee
The law requires the person filing to cooperate with the trustee in the administration of a Chapter 7 case, including the collection by the trustee...
Obtaining a Chapter 7 Discharge
A Chapter 7 discharge means that a person’s debt has been legally cleared and he or she does not have to repay creditors. A Chapter...