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    conscience. He then muses over the idea of guilt, mentioning how the word guilt and debt are very similar in the German language. (II:8) This leads to the idea that guilt was originally separate from accountability. He furthers this point with the idea of punishment in older societies. He states that punishment was originally not in the form of guilt, but instead in a physical retribution. He admires this method as it eliminates the mental turmoil of modern day guilt. If a promise couldn’t be fulfilled, the creditor, or one owed the promise, would still be able to get retribution in the form of seeing his debtor in pain. (II:10) This lead to a greater satisfaction to society when a debt couldn’t be paid. Also, this ensures the unfaithful debtor will have this transgression burned into their mind making them more accountable in the future. Furthermore, this brings up the notion of debtor and creditor. Where in the past, after punishment, there was no guilt and no feeling…

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    Chapter 13 Bankruptcy

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    of benefits, it’s essential you obtain a basic understanding of the process prior to filing. In the following entry, a bankruptcy attorney from Sam Turco Law Offices outlines a few common Chapter 13 bankruptcy FAQs. Chapter 13 Bankruptcy FAQs What Is Chapter 13 Bankruptcy? Chapter 13 bankruptcy allows you to repay a portion or all of your debts under the protection and supervision of the bankruptcy court. When filing, you will submit a repayment plan to the court for approval. The plan will…

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    Attending court, for many individuals, is a highly stressful event. The main reason for the anxiety associated with going to bankruptcy court, or any other court hearing, derives from the uncertainty of the outcome. Hopefully, with additional information about what usually happens in bankruptcy court can curb some of the angst associated with using the US Bankruptcy Code to obtain relief from extreme debt. How Bankruptcy Court is Different In criminal court, there's a prosecutor and a…

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    individual is able to keep up to $100,000 worth of their home. After determining the exempt property, individuals need to determine what to do with their secured debt such as homes and vehicles. Individuals are able to redeem, reaffirm, or surrender the collateral that they put up for the secured debt. If one chooses to redeem they pay the creditor the current value of the property. If they choose to reaffirm the debt, they “agree on new contract terms with the creditor” (Renauer). The last…

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    Bankruptcy Trustee

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    creditors, but depending upon case to case, it is also their duty to keep a watch on the debtor's action. For example, if it is a chapter-7 case, their duty is to make sure that all the assets and properties of the debaters have been liquidated as per the laws. At the same time, they also work in favor of the debtors, by making sure that they get the properties exceptions as per the specific laws of that particular state regarding the same say Ogden Bankruptcy Attorney. On the other hand, if…

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    being presented in this case is exceptions to dischargeable debts in bankruptcy. This case raises the question of the whether the obligation under the guaranty would have been discharged in Harman’s bankruptcy. According to our textbook, Business Law Text and Cases, a guarantor can be required to pay the obligation only after the principal debtor defaults, and usually, only after the creditor has made an attempt to collect from the debtor. The Supreme Court had laid down a near per se rule…

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    Opening a new business is one of the most exciting times of anyone’s life. The initial stages are full of questions you’re excited to answer and decisions you can’t wait to make. For some, this excitement continues as the business grows and the opportunity to succeed becomes more solid with every new day. For others, the questions get more difficult and those decisions they used to wake up in the morning so excited to make start to get postponed and pushed off because the choices all seem…

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    Debtor Beware

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    Debtor Beware: Debt Collectors Find Their Silver Bullet Clifford Cain Jr. discovered that a debt collection company had garnished his bank account and taken around $4500 to cover an old debt they said he owed. Cain said that he did not even know that he had been sued until he found out that the money was gone from his account. Midland Funding is part of Encore Capital Group, a gigantic debt collection agency. They did not just go after Cain, but many other residents of Baltimore with the…

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    Over one million people required the protection of bankruptcy law in 2008. With economic conditions still deteriorating well over one million are expected seek bankruptcy protection this year. Bankruptcy is designed to decrease and in some cases even eliminate the burden of debt and to provide property protection from creditors. Pro Se - Self Filing If bankruptcy is seriously being considered then one of the most important decisions to make is whether to hire a personal bankruptcy attorney.…

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    Second Bankruptcies-Should or Should Not? Poor financial decisions, recessions or the loss of a job can happen at any time during a person’s life. These times may happen more than once in a person's life and require considering many less than ideal options. Sometimes filing a second bankruptcy is a way to wipe the slate clean once again. A person can only file Chapter 7 bankruptcy and receive a bankruptcy discharge once during an eight year time period. So, while filing another bankruptcy…

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