Bankruptcy Attorneys Anchorage AK

This page provides relevant content and local businesses that can help with your search for information on Bankruptcy Attorneys. You will find informative articles about Bankruptcy Attorneys, including "What is Bankruptcy?". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Anchorage, AK that can help answer your questions about Bankruptcy Attorneys.

Renea Irene Saade
(907) 258-0106
745 W 4th Ave Ste 502
Anchorage, AK
Specialties
Bankruptcy, Debt Collection, Banking, Employment, General Practice, Litigation
State Licensing
Washington

Diane F. Vallentine
(907) 563-8844
3000 A Street, Suite 300
Anchorage, AK
 
Dennis G. Fenerty
(907) 562-6474
3201 C Street, Suite 400
Anchorage, AK
 
Eugenia G. Sleeper
(907) 563-8844
3000 A Street, Suite 300
Anchorage, AK
 
Gary C. Sleeper
(907) 563-8844
3000 A Street, Suite 300
Anchorage, AK
 
Robert E. Henderson
(907) 563-8844
3000 A Street, Suite 300
Anchorage, AK
 
David H. Bundy
(907) 248-8431
3201 C Street, Suite 301
Anchorage, AK
 
William A. Earnhart
(907) 277-9511
301 W. Northern Lights Boulevard, Suite 301
Anchorage, AK
 
Paul W. Paslay
(907) 276-3646
2263 Spenard Road
Anchorage, AK
 
Thomas M. McDermott
(907) 276-1550
1127 West 7th Avenue
Anchorage, AK
 

What is Bankruptcy?

Answer:
Bankruptcy is a legal term used to describe

the inability of a person or organization to repay its debts given the financial assets available to it. Upon the debtor’s discovery that they are unable to pay their debts, they may file their case in a bankruptcy court, which assigns the debtor a court-appointed trustee to help them find a solution.

Depending on the specific type of bankruptcy the debtor has filed his case under, the method of solving bankruptcy may differ. A Chapter 7 bankruptcy is the most common, and is solved by selling all assets the debtor owns, excepting certain exempted assets, such as a house or a car. What assets qualify for exemption depends highly on state and local laws. Debt that cannot be repaid through the selling of assets, also known as liquidation, is discharged.

Chapter 11 bankruptcies are often filed by large businesses or individuals with extremely large debts, and allow the debtor to retain control of its assets while determining a reorganization and repayment plan. Chapter 12 bankruptcies apply specifically to farm owners , who also keep ownership and control of their assets and work out a repayment plan with help from the creditors. A Chapter 13 bankruptcy is similar to a Chapter 11 one, but it applies specifically to individuals.

Although bankruptcy does help to alleviate debts, it affects credit rating severely and may impact an individual’s ability to borrow money in the future. Rather than f...

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