What Are Different Claims in a Bankruptcy Petition?

Today, we are going to discuss some of the basic definitions the knowledge of which is required to settle claims under various bankruptcy petitions. Definitions: (1) Insider — Debtors should refer to section 101(31) of the Bankruptcy Code for the definition of a “insider.” (2) Secured Claim — A claim is secured if the creditor [...]

Exemptions: Most Important Consideration When Filing Bankruptcy

Section 522 governs debtors’ rights in bankruptcy as this relates to exemptions of property. This section 522, of course, makes bankruptcy more attractive than anything else does. In addition, this gives debtors protection for a fresh start. As usual, the law office of Malik Ahmad at www.fastbankruptcynevada.com provides a free consultation to prospective bankruptcy clients. [...]

Bankruptcy and your delinquent tax liabilities

Lately, we are meeting lots of debtors who have lots of tax liabilities and owe money to IRS. We like to stress that everyone should pay their taxes, and file the tax returns every year. This is a continuous obligation and also we advise to seek a professional in this regard. However, we still come [...]