Timothy J. Pickens Law Office, PLLC

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An Overview of Chapter 7 Bankruptcy

An Overview of Chapter 7 Bankruptcy

Learn how Chapter 7 bankruptcy works. An Overview of Chapter 7 Bankruptcy (presented by Nolo). Chapter 7 bankruptcy is sometimes called “liquidation” bankruptcy — it cancels your debts but you might have to let the bankruptcy court liquidate (sell) some of your property for the benefit of your creditors. Chapter 7 bankruptcy refers to theRead more about An Overview of Chapter 7 Bankruptcy[…]

What are Arrears?

What are Arrears?

Money that a party fails to pay when due. Often the sum of multiple unpaid amounts, such as rent, installments on an account or promissory note, or monthly child support. A person who has failed to make payments is in “arrears” for the amount due. From NOLO Plain-English Law Dictionary