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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Chapter 7 of the United States Bankruptcy Code is the Bankruptcy Code’s “liquidation” chapter
Lawyers sometimes refer to it as a “straight bankruptcy.” It is used primarily by individuals who wish to free themselves of debt simply and inexpensively, but may also be used by businesses that wish to liquidate and terminate their business.
Newsroom
News about Bankruptcy in South Dakota and nationwide:
New Bankruptcy Law 2005
Beginning on October 17, 2005, most individual debtors filing for bankruptcy relief were required to complete either Official Bankruptcy Form B22A ... Read more >
Definition:
The aggregate value of a business if its assets are sold piecemeal.
Cash collateral
Definition:
Cash and cash equivalents held by the debtor in Chapter 11 subject to liens of other parties.
Repo Laws Repossess
Definition:
The repo laws: If you don't make your car payments for a number of months, your lender may repo or repossess your car. Without a car you may not be able to get to work.
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Aberdeen
Brookings
Huron
Mitchell
Pierre
Rapid City
Sioux Falls
Spearfish
Vermillion
Watertown
Yankton
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