Trenton

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February 06, 2012

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

Chapter 13 bankruptcy law is frequently referred to as a “wage earner” chapter
Although it is available to individuals with regular income from any source, not just wages. Once the court confirms the plan, it is the responsibility of the debtor to make the plan succeed. The debtor must make regular payments to the trustee, which will require adjustment to living on a fixed budget for a prolonged period.

	Newsroom
	News about Bankruptcy in Trenton and nationwide: U.S. Bankruptcy Court Approves SGI's Disclosure Statement For Voting Purposes MOUNTAIN VIEW, Calif.— Silicon Graphics (OTC: SGID) announced today that its Disclosure Statement has been approved by the U.S. Bankruptcy Court fo... Read more > President Signs Bankruptcy Abuse Prevention, Consumer Protection Act I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator ... Read more > Senate Passes Schumer Amendment To Bankruptcy Bill To Crack Down On Predatory Loans Measure Forces Predatory Lenders To Pass Along Liability To Buyers of Loans During Chapter 11 Proceedings, Making it More Difficult to Discharge As... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Avoidance power

Definition:
The power of the court to invalidate certain obligations or transactions undertaken by a debtor prior to filing bankruptcy.

Post-petition

Definition:
Occurring after the filing of a petition. Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others.

Automatic stay

Definition:
The suspension of actions, such as debt collection or foreclosure, against the company in bankruptcy. Occurs automatically when the bankruptcy petition is filed.

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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

Trenton Bankruptcy Attorney

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

Absecon
Asbury Park
Atlantic City
Bayonne
Blackwood
Bloomfield
Brick
Bridgeton
Bridgewater
Clementon
Clifton
East Brunswick
East Orange
Edison
Elizabeth
Englishtown
Fort Lee
Freehold
Hackensack
Hoboken
Howell
Jackson
Jersey City
Kearny
Lakewood
Linden

Marlton
Millville
Monroe Township
Morristown
Mount Holly
Mount Laurel
New Brunswick
Newark
North Bergen
North Brunswick
Old Bridge
Passaic
Paterson
Perth Amboy
Piscataway
Plainfield
Princeton
Sewell
Somerset
Teaneck
Toms River
Trenton
Union
Vineland
Wayne

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