In 2011, the Superintendent of bankruptcy reported that trustees in Canada filed 127,774 insolvent estates. Consumer estates were the vast majority, with 122 999 estates.[26] The consumer portion of the 2011 volume is divided into 77,993 bankruptcies and 45,006 consumer proposals. This represented a reduction of 8.9% from 2010. Commercial estates filed by Canadian trustees in 2011 4,775 estates, 3,643 bankruptcies and 1,132 Division 1 proposals.[27] This represents a reduction of 8.6% over 2010.
Generally, a trustee sells most of the debtor's assets to pay off creditors. However, certain debtor assets will be protected to some extent by bankruptcy exemptions. These include Social Security payments, unemployment compensation, limited equity in a home, car, or truck, household goods and appliances, trade tools, and books. However, these exemptions vary from state to state.

Chapter 9: This applies only to cities or towns. It protects municipalities from creditors while the city develops a plan for handling its debts. This typically happens when industries close and people leave to find work elsewhere. There were 20 Chapter 9 filings in 2012, the most since 1980. Detroit was among those filing in 2012, and is the largest city ever to file Chapter 9. Detroit’s GDP shrunk by 12.2% in the 10 years prior to declaring bankruptcy. The average major metro growth in that time was 13.1%. 

Chapter 7 bankruptcy is designed for individuals (and married couples) who can’t pay their bills such as credit cards, medical..etc. If your monthly income less your monthly expenses then you’re may eligible for a Chapter 7 bankruptcy. Generally speaking, you will be able to wipe out your debt such as credit cards, medical and dental bills, unsecured personal loans and others. In Chapter 7, you may keep your house, car and no more garnishment. 
Chapter 13 means the court approves a plan for you to repay some or all of your debts over three to five years. You get to keep your assets (stuff you own) and you’re given time to bring your mortgage up to date. You agree to a monthly payment plan and must follow a strict budget monitored by the court. This kind of bankruptcy stays on your credit report for seven years.

Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples. Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC). Sole proprietors must use the forms that are numbered in the 100 series. 
A good way to approach the decision of whether to hire a lawyer is to buy (and read) Nolo's book How to File for Chapter 7 Bankruptcy. It will give you a good idea of what issues may arise when you file, and flags specific situations when a lawyer's help is called for. It will also give you a good idea of whether the filing process seems to complicated for you.
Chapter 13 means the court approves a plan for you to repay some or all of your debts over three to five years. You get to keep your assets (stuff you own) and you’re given time to bring your mortgage up to date. You agree to a monthly payment plan and must follow a strict budget monitored by the court. This kind of bankruptcy stays on your credit report for seven years.
A trustee in bankruptcy must be either an Official Receiver (a civil servant) or a licensed insolvency practitioner. Current law in England and Wales derives in large part from the Insolvency Act 1986. Following the introduction of the Enterprise Act 2002, a UK bankruptcy now normally last no longer than 12 months, and may be less if the Official Receiver files in court a certificate that investigations are complete. It was expected that the UK Government's liberalization of the UK bankruptcy regime would increase the number of bankruptcy cases; initially, cases increased, as the Insolvency Service statistics appear to bear out. Since 2009, the introduction of the Debt Relief Order has resulted in a dramatic fall in bankruptcies, the latest estimates for year 2014/15 being significantly less than 30,000 cases.
Bankruptcy can be one of the best and only ways to wipe away debt that is impossible to pay off. While bankruptcy can be a solution to many people's debt problems, the filing of bankruptcy can be very confusing and frustrating to those that have never dealt with it before. If you are like many bankruptcy filers, you probably don't have the money to pay an attorney to do this for you. If you fall into this category, there is no need to fear as Affordable Documents is here to offer you a friendly, easy, and fast experience when it comes to filing for bankruptcy.
Bankruptcy can be one of the best and only ways to wipe away debt that is impossible to pay off. While bankruptcy can be a solution to many people's debt problems, the filing of bankruptcy can be very confusing and frustrating to those that have never dealt with it before. If you are like many bankruptcy filers, you probably don't have the money to pay an attorney to do this for you. If you fall into this category, there is no need to fear as Affordable Documents is here to offer you a friendly, easy, and fast experience when it comes to filing for bankruptcy.
Bill “No Pay” Fay has lived a meager financial existence his entire life. He started writing/bragging about it seven years ago, helping birth Debt.org into existence as the site’s original “Frugal Man.” Prior to that, he spent more than 30 years covering college and professional sports, which are the fantasy worlds of finance. His work has been published by the Associated Press, New York Times, Washington Post, Chicago Tribune, Sports Illustrated and Sporting News, among others. His interest in sports has waned some, but his interest in never reaching for his wallet is as passionate as ever. Bill can be reached at [email protected]
*** If we make a mistake in your bankruptcy petition that leads to you not receiving a discharge in your bankruptcy case we will refund you 100% of the attorney fees. We reserve the right to do whatever is possible to address any issue that may arise in your case at our own expense.  We are not guaranteeing you a result in your bankruptcy case or that you will receive a discharge of all of your debts or any one debt. There are debts that are not dischargeable pursuant to the Bankruptcy Code. Your bankruptcy case may also involve litigation that is independent of you receiving a discharge in your bankruptcy case. We cannot guarantee that that you will obtain a discharge of any one specific debt, or of all debts.
A trustee in bankruptcy must be either an Official Receiver (a civil servant) or a licensed insolvency practitioner. Current law in England and Wales derives in large part from the Insolvency Act 1986. Following the introduction of the Enterprise Act 2002, a UK bankruptcy now normally last no longer than 12 months, and may be less if the Official Receiver files in court a certificate that investigations are complete. It was expected that the UK Government's liberalization of the UK bankruptcy regime would increase the number of bankruptcy cases; initially, cases increased, as the Insolvency Service statistics appear to bear out. Since 2009, the introduction of the Debt Relief Order has resulted in a dramatic fall in bankruptcies, the latest estimates for year 2014/15 being significantly less than 30,000 cases.
Generally, I start with an initial telephone consultation. Then if you want to move forward, we schedule an in-person conference at my office to go over the legal services agreement and your documents and for you to make the first payment. After that I represent you against your creditors until you are paid in full and then about two weeks after that I file your case. 
Another type of cheap bankruptcy is to use a “document preparation” company. Using a “document preparation” company to file bankruptcy may actually be worse than filing alone. California bankruptcy attorneys in Burbank are regulated by the State Bar of California. A “document preparation” company regulates itself. We have seen clients that have experienced unimaginable nightmares with “document preparation” companies. It’s not uncommon for these companies to have no knowledge of bankruptcy law, perform shoddy work and charge their clients relentless hidden fees. And you may be surprised to learn that “document preparation” companies are forbidden from giving legal advice. If you cannot get legal advice on your bankruptcy, what is the point of paying someone to do it?
"I can't say enough good things about this law office! Donna and Jenn were extremely patient, responsive and thorough in helping me throughout this entire process. They answered all my questions and kept me informed as to what to expect next. There were never any surprises. I felt confident that things were running smoothly the entire time. Kevin was amazing as well! He was very reassuring before and during my hearing. I felt prepared, and everything played out just as he said it would. I would give 10 stars if I could! I highly recommend these guys! Wonderful staff!"
Before a consumer may obtain bankruptcy relief under either Chapter 7 or Chapter 13, the debtor is to undertake credit counselling with approved counseling agencies prior to filing a bankruptcy petition and to undertake education in personal financial management from approved agencies prior to being granted a discharge of debts under either Chapter 7 or Chapter 13. Some studies of the operation of the credit counseling requirement suggest that it provides little benefit to debtors who receive the counseling because the only realistic option for many is to seek relief under the Bankruptcy Code.[45] 

Use the forms that are numbered in the 100 series to file bankruptcy for individuals or married couples. Use the forms that are numbered in the 200 series if you are preparing a bankruptcy on behalf of a nonindividual, such as a corporation, partnership, or limited liability company (LLC). Sole proprietors must use the forms that are numbered in the 100 series. 
Chapter 7 bankruptcy is designed for individuals (and married couples) who can’t pay their bills such as credit cards, medical..etc. If your monthly income less your monthly expenses then you’re may eligible for a Chapter 7 bankruptcy. Generally speaking, you will be able to wipe out your debt such as credit cards, medical and dental bills, unsecured personal loans and others. In Chapter 7, you may keep your house, car and no more garnishment. 
Federal Law No. 127-FZ "On Insolvency (Bankruptcy)" dated 26 October 2002 (as amended) (the "Bankruptcy Act"), replacing the previous law in 1998, to better address the above problems and a broader failure of the action. Russian insolvency law is intended for a wide range of borrowers: individuals and companies of all sizes, with the exception of state-owned enterprises, government agencies, political parties and religious organizations. There are also special rules for insurance companies, professional participants of the securities market, agricultural organizations and other special laws for financial institutions and companies in the natural monopolies in the energy industry. Federal Law No. 40-FZ "On Insolvency (Bankruptcy)" dated 25 February 1999 (as amended) (the "Insolvency Law of Credit Institutions") contains special provisions in relation to the opening of insolvency proceedings in relation to the credit company. Insolvency Provisions Act, credit organizations used in conjunction with the provisions of the Bankruptcy Act.
Another type of cheap bankruptcy is to use a “document preparation” company. Using a “document preparation” company to file bankruptcy may actually be worse than filing alone. California bankruptcy attorneys in Burbank are regulated by the State Bar of California. A “document preparation” company regulates itself. We have seen clients that have experienced unimaginable nightmares with “document preparation” companies. It’s not uncommon for these companies to have no knowledge of bankruptcy law, perform shoddy work and charge their clients relentless hidden fees. And you may be surprised to learn that “document preparation” companies are forbidden from giving legal advice. If you cannot get legal advice on your bankruptcy, what is the point of paying someone to do it?
A consumer proposal can only be made by a debtor with debts to a maximum of $250,000 (not including the mortgage on their principal residence). If debts are greater than $250,000, the proposal must be filed under Division 1 of Part III of the Bankruptcy and Insolvency Act. An Administrator is required in the Consumer Proposal, and a Trustee in the Division I Proposal (these are virtually the same although the terms are not interchangeable). A Proposal Administrator is almost always a licensed trustee in bankruptcy, although the Superintendent of Bankruptcy may appoint other people to serve as administrators.
Another type of cheap bankruptcy is to use a “document preparation” company. Using a “document preparation” company to file bankruptcy may actually be worse than filing alone. California bankruptcy attorneys in Burbank are regulated by the State Bar of California. A “document preparation” company regulates itself. We have seen clients that have experienced unimaginable nightmares with “document preparation” companies. It’s not uncommon for these companies to have no knowledge of bankruptcy law, perform shoddy work and charge their clients relentless hidden fees. And you may be surprised to learn that “document preparation” companies are forbidden from giving legal advice. If you cannot get legal advice on your bankruptcy, what is the point of paying someone to do it?

If you plan to file for Chapter 7, you might qualify for a fee waiver if your income is within 150% of the federal poverty guidelines. Otherwise, you might be able to pay the fee in up to four installments. To apply for either, you’ll complete and submit the official request forms along with your initial bankruptcy petition. The court will notify you if the judge approves the waiver or installment arrangement.
*** If we make a mistake in your bankruptcy petition that leads to you not receiving a discharge in your bankruptcy case we will refund you 100% of the attorney fees. We reserve the right to do whatever is possible to address any issue that may arise in your case at our own expense.  We are not guaranteeing you a result in your bankruptcy case or that you will receive a discharge of all of your debts or any one debt. There are debts that are not dischargeable pursuant to the Bankruptcy Code. Your bankruptcy case may also involve litigation that is independent of you receiving a discharge in your bankruptcy case. We cannot guarantee that that you will obtain a discharge of any one specific debt, or of all debts.
When a debtor receives a discharge order, he is no longer legally required to pay any of the debts on that order. So, any creditor listed on that discharge cannot legally undertake any type of collection activity (making phone calls, sending letters) against the debtor once the discharge order is enforced. Therefore, the discharge absolves the debtor of any personal liability for the debts specified in the order.
Chapter 12: Chapter 12 applies to “family farms” and “family fishermen” and gives them a chance to propose a plan to repay all or part of their debts. The court has a strict definition of who qualifies and it’s based on receiving regular annual income as a farmer or fisherman. Debts for individuals, partnerships or corporations filing for Chapter 12 can’t exceed $4.03 million for farmers and $1.87 for fishermen. The repayment plan must be completed within five years, though allowances are made for the seasonal nature of both farming and fishing.
A failure of a nation to meet bond repayments has been seen on many occasions. Philip II of Spain had to declare four state bankruptcies in 1557, 1560, 1575 and 1596. According to Kenneth S. Rogoff, "Although the development of international capital markets was quite limited prior to 1800, we nevertheless catalog the various defaults of France, Portugal, Prussia, Spain, and the early Italian city-states. At the edge of Europe, Egypt, Russia, and Turkey have histories of chronic default as well."[7]
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Chapter 15: Chapter 15 applies to cross-border insolvency cases, in which the debtor has assets and debts both in the United States and in another country. This chapter was added to the bankruptcy code in 2005 as part of the Bankruptcy Abuse Prevention and Consumer Protection Act. Chapter 15 cases start as insolvency cases in a foreign country and make their way to the U.S. Courts to try and protect financially troubled businesses from going under. The U.S. courts limit their scope of power in the case to only the assets or persons that are in the United States.
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