Bankruptcy Lawyers

Maryland.

August 24, 2010

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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 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 Maryland and nationwide: Attorney General Advocates Pay Raise for Federal Judges January 18, 2007 — Attorney General Alberto R. Gonzales said he thinks federal judges should receive a pay raise. His comments about judges'... Read more > 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 > Representative Adam Smith Will Support Bankruptcy Reform The Bankruptcy Reform Act of 1999 (H.R. 833) is expected to pass the House today. Under current law, bankruptcy filers may file under Chap... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Petition

Definition:
The document that commences a bankruptcy proceeding. plan of reorganization - the document setting forth how a bankrupt company plans to satisfy its creditors.

Voluntary bankruptcy

Definition:
Bankruptcy filed by the debtor itself; data from the U.S. Administrative Office of the Courts subdivides bankruptcies into voluntary and involuntary.

Bankrupt

Definition:
The entity that files a bankruptcy; the debtor; the insolvent entity. This is a non-technical term and is not used in the Bankruptcy Code.

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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

Maryland Bankruptcy Attorney

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

Annapolis
Baltimore
Capitol Heights
Catonsville
Columbia
Cumberland
District Heights
Dundalk
Elkton
Ellicott City
Essex
Fort Washington
Gaithersburg
Germantown
Glen Burnie
Gwynn Oak

Hagerstown
Hyattsville
Lanham
Lutherville Timonium
Middle River
Nottingham
Owings Mills
Parkville
Pasadena
Potomac
Rockville
Silver Spring
Sykesville
Temple Hills
Upper Marlboro
Westminster

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