Debt Collection Process

Can a transfer be deemed fraudulent if a third party transfered the debtors assets before a ch.11 bankruptcy? I'm referring to Fraudulent Conveyance under chapter 11 bankruptcy law in the event that a third party (someone other than the debtor) transferred assets owned by the debtor within 1 year of the bankruptcy filing.

Because the company I worked for filed Capter 11 Bankruptcy for reorganization my long term disability benefi? On March 3, 2006, my employer filed chapter 11 bankruptcy for reorganization. I have been receiving long term disability payments from this company since August, 1997. As of February 28, 2006 I have not received my monthly disability check. I was told by the HR office that according to federal law under the chapter 11 bankruptcy law long term disability is not to be paid once they file for bankruptcy. Please help me to find a law that makes this corporation pay me my long term disabilty benefits. I did not receive anything regarding the bankruptcy, until April 4, 2006 and the bankruptcy was filed on Marcg 3, 2006. I do receive Social Security Permanent Long Term Disability Benefits.

Can you please explain the difference between Chapter 7, 11, and 13 Bankruptcy? I am very interested in the different bankruptcy laws and how it can apply to a situation. This is for a friend. Please share with me your knowledge and experience (if applicable). Thank you in advance. Happy New Years! :-)

How do apparently succesful buisnesses get into chapter 11 bankruptcy? I just Found out the Flying J truck stops corporation is in chapter 11 bankruptcy. My question is this. Freakin HOW ? Every flying J truck stop I have ever been to has been busy . Really busy. And their prices are High compared to a neighborhood convenience store. And they get their money too because truckers HAVE to go to truckstops. I will get an energy Drink, a crappy burger and some potato wedges and be out 12-13 bucks easy. Not to mention the 500bucks in fuel my company just bought from them. When some businesses like the restaurant down the street go under it makes sense because, hardly anyone eats there. But several times I have seen successful businesses like the PUMPHANDLE convenience stores go under How do these businesses that have tons of customers and make tons of money manage to blow it ? Are they paying some Fat*ssed vice president of the company too much money to play golf on his 3 hour work day? Or are lawyers getting it from law suits ?

When a publicly listed company files for Chap 11 bankruptcy. How much time does it have to create an exit plan When a public company files for Chap 11 bankruptcy, and its stock continues to trade. How much time does the law allows the company to come up with a bankruptcy plan? Where can I find the filings that the company sent to the court judge? What are the different legal steps and timeline, the company needs to go through before it can exit from chapter 11?

Will the bankruptcy judge who is handling the Chrysler bankruptcy follow the law or given into Obama? According to bankruptcy laws the secure lenders are to be paid before anyone else. The duty of those representing the bond holders is to the bond holders and not to Chrysler or the workers. It is the duty of the judge to determine if what is presented to him is workable and there is no way what has been presented is workable. The union contracts including the legacy costs either have to be workable or declared null & void. If no workable plan is presented than it should be the duty of the judge to move the bankruptcy from Chapter 11 to Chapter 7 and order that Chrysler be liquidated and the creditors paid off starting with the secure ones. Yes it will mean a lot of people will lose their jobs but that is not the judge's problem.

Should we declare bankruptcy? Chapter 11 is a chapter of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to any business, whether organized as a corporation or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, while Chapter 13 provides a reorganization process for the majority of private individuals with unsecured debts of less than $336,900.00 and secured debts of less than $1,010,650.00 as of April 1, 2007. ahem, this is politics and government. the question is about america. perhaps you've heard, we are deep in debt and our economy is on the verge of collapse.

Antitrust law under bankruptcy scenario? This questions has bugged me for a while. So any answer with rationale , references would be appreciated. I can best ask this question with the help of an example. Intel , the market leader , is competing against AMD (which is the only other major player in the chip industry). Now , AMD has been in red for last 3 quarters and if it were to file for bankruptcy under chapter 11 , it would leave Intel as the sole major player in the Industry. Can Intel now acquire AMD? Will it invoke the antitrust law against Intel or it won't matter as AMD's bankruptcy has left Intel as the market leader anyhow! Awaiting replies. Best, BudFox

If a company files for bankruptcy, do they have to pay vacation time accrued by employees? This in question is in regards to NJ state law and is intended for Chapter 7 or 11 bankruptcies.

Bankruptcy law as a vendor? Need advise from someone who really knows. Retail chain that filed chapter 11 earlier this year is now closing all stores and liquidating. I know that receivables owed prior to chapter 11 won't be collected, but for new receivables post petition, how does it work if retailer now just closes all stores. Will these funds be collected?

Who to find out how's the law suit current situation? American Home Mortgage Servicing, INC file for Chapter 11 bankruptcy. They put a case and court number online. How can I know "how it is going"? http://chapter11.epiqsystems.com/clientdefault.aspx?pk=dc09b15b-9fb2-4473-b1f3-8951788bde5b&l=1

Liberals: Can you state some good things that President Bush has done? Here are 3, do you have any more? 1. Amnesty for Illegal Aliens. 2. Do not call list 3. Updated Bankruptcy law so an individual can keep more of his personal property when having his debts discharged in a a Title 11, Chapter 7 Bankruptcy (Okay, technically the do not call list eliminate over a million jobs, but I don't care. And I think Judge Small did most of the Bankruptcy revisions, but Bush signed off on it). NOTE: The 1st amnesty did happen, the 2nd did not. NOTE: Most of the Bankruptcy law revisions were done by Federal Bankruptcy judges. I think Judge Small was one of the primary contributors. NOTE: Medical debts can be discharged under the new bankruptcy lawd just as before. Unlike non-secured credit debt, there is no 90 day period before filing that cannot be discharged. rick m: You must really like long lines.

What would be a good topic for an advanced bankruptcy thesis to research and write about for law school? I have to research and write a thesis on a bankruptcy topic for a law school class and am trying to decide a good topic. It has to be a thesis, not a book report-type paper, so don't suggest I write about the GM bankruptcy or something. I am looking for a issue that is current, preferably within a year or so, but at least post-BAPCPA, that is still not resolved or at least has inconsistent court opinions or is a piece of legislation in the works. I'd like to stick with issues concerning either chapters 7, 11, or 13. Any links to articles or other materials you have seen that discuss the topic you suggest would be great too. Thanks for the help! In response to Ranger44, I am not desperate, and yes I know most answers given will be unintelligent. I have several ideas already but I'm just beginning this process and figured I'd throw the question out there and maybe someone will offer something I hadn't thought of. So it's not despair, it's good research - using many resources where you may find a source you otherwise wouldn't have thought of. Yes I know this is a stretch on Answers, but who knows, some attorney may read this who has litigated cases in several districts and has found inconsistencies in the judgments or has come across a recurring issue regarding the debtors or creditors that they represent. Your suggestion is rather useless, it can't be developed citing case law really, yes bankruptcy does what is intended to do, granting discharge or providing a forum to repay debts. Is it a perfect system, no! But it does grant discharge unlike other systems such as a debtor prison, so it obviously does, imperfectly, work.

Delta stock after chapter 11? First of I read all the related posts. Thanks for all of your comments. I would love to hear TJs comment on the subject again. It seems that there are many "vague", could happen, might happen scenarios for the Delta stock. 1. Isn't there somekind of law that dictates what MUST happen with a stock of a company after they are out of bankruptcy? 2. I own 5,000 shares of Delta. How can the stock be cancelled when they are out of bankruptcy. I invested in the company, doesn't some kind of law requires Delta to replace my old stock (pre-bankruptcy) with the new stock (after bankruptcy) 3. Are they any previous United share holders on the forum? Could you share your experience what exactly happened with the new stock, and if you got any for your old stock? Thanks for your insights. Please be specific if you could, not interested in general comments.

How long will bankruptcy stay on your record? I went through a bankruptcy in 2008 where all my debt's were wiped clean. I didn't have to get put on a payment plan. (I don't remember if that's Chapter 7 or 11?) Anyway, I've heard it will come off your record after a certain amount of years. I'm a resident of Michigan - by the way. Does anyone know what the laws are for Michigan bankruptcy and how long until it comes off your record if it does at all?

Bankruptcy new laws and fraud? I manage a payday loan company, first time with a customer filing bankruptcy (chapter 7) I know the new laws had the changes to the amounts of median income, credit courses required, etc, but....I have a customer that just took out a loan on 10-29-2008...Filed BK on 11/03/2008. He did this with 2 other companies, basically within a couple days of the loans turned around and filed bk...Isn't this considered fraud? I know I can file a claim after I get notification from the courts, but seems to me that this individual basically borrowed the money with all intent to use for retainer fees and now has filed. Can we do anything about this with the bk courts? Any suggestions would be appreciated. Thanks!

Because Obama has CAVED To The Right and Special Interests on Insurance Reform Bill.....? The final draft of the bill have been called "A Blow Job for the Rx. / Insurance Co.s" By the time any of the changes become law , 10,000 + Americans will die needlessly every YEAR , Millions will file for chapter 11 Bankruptcy, our Manufacturing sector will fall even further behind the rest of the industrialized nation and the Insurance Co. will work more vigorously then ever to eliminate anyone who may cost them a fraction there Huge Bonus checks! Is this the "Change" you expected?

Should the free market always rule, no matter what? Then which is better? 1. Last December, President Bush, believing that free markets should determine the fate of private enterprise, does not provide funds for General Motors to stay afloat. President Obama agrees. GM is out of cash. It cannot function, even in bankruptcy. It must be liquidated. - All dealerships go bankrupt. - All GM employees are out of work. - GM pensions must be paid by taxpayers, as the law requires. - Most GM suppliers in turn go bankrupt. - All GM assets are sold in bankruptcy to foreign companies. 2. President Bush, followed by president Obama, gives enough money to permit General Motors to keep operating, but only under the protection of Chapter 11 bankruptcy. The government now owns 60% of the new company. - Half of GM dealerships go bankrupt. - Half of GM employees are out of work. - GM pensioners get stock in the new company instead of tax dollars. - Some GM suppliers go bankrupt. - Some GM assets are sold in bankruptcy to foreign companies. In other words, is there ever a time when government should step in to stop the total loss of a major American enterprise, or should the free market always rule, no matter what?

Can I keep my car If I file for bankruptcy? I am considering filing for bankruptcy. Chapter 13 is not an option for me, it will be for chapter 11 most likely. I have a condo that I have not been able to sell, which I will lose, but I would like to keep my car. I understand there are laws regarding preferential payments, to credit card company for example, however, I am not sure if there are laws that would apply in a scenario where, a person might give the car, as a gift, to a family member or sell the car to someone who might then sell it back at a later date? Any assistance is appreciated. Thank you.

business law question? 2. True are false debtors are protected from losing the value of their property as a result of the automatic stay. 3. True are false the same principles cover the filing of a chapter petition and a chapter 11 proceeding. 4. A bankruptcy may be commenced by involuntary petition under chapter 13. True are false 5. Generally in a bankruptcy proceeding and creditor claim is allowed. True are false 6. When a business debtor files for chapter 11 protection the debtor is not allowed to continue in business. True are false 7. No small business can avoid creditor’s committees under chapter 11. True are false 8. Bankruptcy proceedings are held in federal bankruptcy courts. True are false 9. A discharge obtained by fraud can be revoked with one year. True are false

can you help me edit this paragraph please! check grammar too.? Bankruptcy is a legal proceeding in which people who cannot pay their bills can get a fresh financial start. Federal Law provides the right to file for bankruptcy and all the bankruptcy cases are handled in federal court. Filing bankruptcy immediately stops all of your creditors from seeking to collect debts from you, at least until your debts are sorted out according to the law. There are many effects on you once you filed the bankruptcy. Such as, eliminating the legal obligations to pay all of your debts, it stops foreclosure on your house, prevent repossession of a car, and restore or prevent termination of utility service. There are different types of bankruptcy that one can file; Chapter 7 (Straight Bankruptcy), Chapter 11 (reorganization), Chapter 12 (reserved for family farmers) and Chapter 13 (Adjustment of Debts). The most common bankruptcy case is filed under chapter 7.

business law? 2. True are false debtors are protected from losing the value of their property as a result of the automatic stay. 3. True are false the same principles cover the filing of a chapter petition and a chapter 11 proceeding. 4. A bankruptcy may be commenced by involuntary petition under chapter 13. True are false 5. Generally in a bankruptcy proceeding and creditor claim is allowed. True are false 6. When a business debtor files for chapter 11 protection the debtor is not allowed to continue in business. True are false 7. No small business can avoid creditor’s committees under chapter 11. True are false 8. Bankruptcy proceedings are held in federal bankruptcy courts. True are false 9. A discharge obtained by fraud can be revoked with one year. True are false

Question on legal cases... who is the law firm representing? Hi, No knowledge here of legal info. Really a simple question. I have an article from the Daily Deal and I have to figure out Weil, Gotshal and Manges is the debtor counsel for who... Aleris International? Daily Deal, PE backed Aleris rolls into Ch 11 A steep drop in demand for its products and liquidity constraints have flattened Aleris International Inc., which on Thursday, Feb. 12, became the largest private equity-owned company this year to tumble into bankruptcy. The Beachwood, Ohio, producer of rolled and extruded aluminum products filed for Chapter 11 protection with 42 affiliates in the U.S. Bankruptcy Court for the District of Delaware in Wilmington and will have a $1.08 billion debtor-in-possession financing at its disposal. With $4.85 billion in assets, TPG Capital-backed Aleris is the fifth-largest debtor by assets to file in the U.S. in 2009. "We have moved aggressively to reduce our costs and eliminate capacity to offset the negative effects of the global economic slowdown," said Aleris chairman and CEO Steven J. Demetriou in a statement. "However, given the unpredictability of the speed and severity of the downturn over the last few months, these actions were not sufficient to counter the combination of challenges Aleris faces, including a sharp deterioration in demand for our products by the automotive, housing, and general industrial products sectors and an unprecedented decline in aluminum prices which limited our borrowing ability." Aleris will fund its operations during the bankruptcy with a DIP that includes a $500 million term loan led by prepetition lender Deutsche Bank AG and Deutsche Bank Securities Inc. and a $575 million revolving credit facility from the Deutsche Bank entities, Bank of America NA, Banc of America Securities LLC and General Electric Capital Corp. Court documents show Apollo ALS Holdings LP and funds managed by Oaktree Capital Management LP are also lenders on the term loan, which is priced at LIBOR plus 1,000 basis points for dollar loans and EURIBOR plus 600 basis points for euro loans. Both LIBOR and EURIBOR have a 3% floor.... Stephen Karotkin of Weil, Gotshal & Manges LLP is debtor counsel. Paul Heath of Richards, Layton & Finger PA is debtor co-counsel. Fried, Frank, Harris, Shriver & Jacobson LLP is special financing, corporate, tax and litigation counsel.

Question for lawyers only: What can an inexperienced, 40 year old lawyer do to make himself marketable? I'm 40 years old. I graduated six years ago from Washington U in St Louis School of Law. I live in NYC where they haven't heard of schools west of Pittsburgh and my school does not have an alumni network. Since then, I've only been able to get document review assignments with large breaks of unemployment when the market cools down. Okay, so that's my life thus far adn there are plenty of other students from my "top-twenty" school who are in the same boat. I've been doing my best to not whine over it without purpose. Trust me, I have a MUCH better outlook on life than many of the thousands of people in this industry in NYC. So here's my question: Is there a field in the law or in a related field (or even on Mars for all I care) in whihc I can have a reasonalbe chance at getting a job, working my way up, and hopefully retire at 70 or so with my student loans paid and enough money to retire in a state with a low cost of living? My experience beyond Doc REview (searching for words in emails) consists of: 1. completing five Chapter 7 bankruptcy petitions for people through Legal Services (their not hiring when they can get peole to do it for free) over the last 1.5 years. I would have done more petitiion but the legal aids have no motivation to move any faster. 2. Representing people in their SSD appeals for two years during law in 2001-2003. And, 3. I researched one issue and wrote one Motion in Limine since law school and I have no idea if they actually filed it. Of course, I've been searching since before graduatiion. I like what I know about bankruptcy but every job I find in bankruptcy asks for a minimum of five years of experience. even the so-called entry level jobs want at least a yaer of Chapter 11 experience. I'm looking in compliance jobs and they seem to either pay 17 an hour which means I'd have to default on my student loans or they want five to ten eyars experience Legal aid agencies have been inundated with applications since 9/11 and can get most of their work done for free by pro bono attorneys. Any ideas out there? I truly thank you for reading this far even if you don't have any ideas. If you have any thoughtful suggestions it could make my day (and life). PS. I'm limiting this to lawyers because I'm used to gettting, weell-meaning, but frustrating advice from non-lawyers who think the legal profession works like most other industries in whihc someone can start in the mailroom or as a paralegal and work their way up to Senior Associate or Partner. For example, a non-lawyer will tell me to simply start filing bankruptcy petitions for people or to try to get jobs in all fifty states while a legal professional will know that we need to study, take an exam, become admitted to work in each of those jurisdicitions.

Christmas Shoppers, Are You Aware Of This? Warning...... Stores that are planning to close after Christmas may still be selling gift cards through the holidays even though the cards may be worthless January 1. There is no law preventing them from doing this. On the contrary, it is referred to as 'Bankruptcy Planning'. Below is a partial list of stores that you need to be cautious about. Circuit City (filed Chapter 11) Ann Taylor- 117 stores nationwide closing Lane Bryant, Fashion Bug ,and Catherine's to close 150 stores nationwide Eddie Bauer to close stores 27 stores and more after January Cache will close all stores Talbots closing down specialty stores J. Jill closing all stores (owned by Talbots) Pacific Sunwear (also owned by Talbots) GAP closing 85 stores Footlocker closing 140 stores more to close after January Wickes Furniture closing down Levitz closing down remaining stores Bombay closing remaining stores Zales closing down 82 stores and 105 after January Whitehall closing all stores Piercing Pagoda closing all stores Disney closing 98 stores and will close more after January. Home Depot closing 15 stores 1 in NJ ( New Brunswick ) Macys to close 9 stores after January Linens and Things closing all stores Movie Galley Closing all stores Pep Boys Closing 33 stores Sprint/Nextel closing 133 stores JC Penney closing a number of stores after January Ethan Allen closing down 12 stores. Wilson Leather closing down all stores Sharper Image closing down all stores K B Toys closing 356 stores Loews to close down some stores Dillard's to close some stores

is this guy getting the shaft or what? Supreme Court Rules in Bankruptcy Case Wednesday, February 21, 2007 11:17 AM EST The Associated Press By PETE YOST WASHINGTON (AP) — The Supreme Court ruled Wednesday that a financially troubled small businessman gave up an important right under the federal bankruptcy code because he failed to disclose all of his assets as the law requires. In a 5-4 decision, the court said Robert Marrama of Gloucester, Mass., could not convert his bankruptcy case from one chapter of the code to another, as the law ordinarily allows. http://adelphia.net/news/read.php?id=13473606&ps=whiteHouse%2Ccongress%2Celections%2Cgovernment&cat=&cps=0&lang=en

Lawsuit Filed Against Me...Now what? About a week ago I got a business card from the county Deputy Marshall on my door. I called back and left a message but got no response. A few days after this I started receiving random letters from cracker-jack law firms saying a lawsuit had been filed against me in my county and offering to represent me or help me file chapter 7 or 13 bankruptcy. I went to the courthouse and couldn't find anything filed on me there at all so I was confused. Yesterday I got another letter from a lawfirm offering the same services as the others, but it listed a case number. The collection agency(I assume) filed it and miss spelled my last name which is why I could not find anything before. So my question is this. The lawsuit has been filed, but I have not been served yet. Suit was filed on June 1st and it is the 11th but I have not received a notice yet. Can they proceed with anything in court if I haven't been served? I am still trying to research it but the collection agency suing me does not show up anywhere on my credit report I just pulled yesterday and any accounts I had in collections are from back in 2004 and have been charged off. Also if they miss spelled my name on the lawsuit can I get it dismissed and make them re-file it? I'm hoping that I can settle this before it goes to court, but I just don't want them to do something in court w/o me knowing if I haven't been served the official notice of the lawsuit yet. Just some other info. I don't need to file bankruptcy, any debt they would be coming after me for wouldn't be anything more than $500 at least according to what is on my credit report. I want to settle it, I just want to make sure they can't pass any judgements on me in court if I haven't been officially notified by being served the papers. Oh and state is GA in case that has anything to do with the filing and serving laws.

Can you still file Bankruptcy In Virginia and what does the new laws mean? my girlfriend has the worst credit and she asked me what we should do I want to tell her to just file chapter 11 but I dont know what will wipe away or what she will still have to pay. She has crazy student loans and a car that was a lemon that she still owes 10k on

WHAT DO YOU THINK OF JAMES TRAFICANT'S U.S BANKRUPTCY SPEECH BELOW? James Traficant's U.S. Bankruptcy Speech The Bankruptcy of The United States United States Congressional Record, March 17, 1993 Vol. 33, page H-1303 Speaker-Rep. James Traficant, Jr. (Ohio) addressing the House: "Mr. Speaker, we are here now in chapter 11. Members of Congress are official trustees presiding over the greatest reorganization of any Bankrupt entity in world history, the U.S. Government. We are setting forth hopefully, a blueprint for our future. There are some who say it is a coroner’s report that will lead to our demise. It is an established fact that the United States Federal Government has been dissolved by the Emergency Banking Act, March 9, 1933, 48 Stat. 1, Public Law 89-719; declared by President Roosevelt, being bankrupt and insolvent. H.J.R. 192, 73rd Congress m session June 5, 1933 - Joint Resolution To Suspend The Gold Standard and Abrogate The Gold Clause dissolved the Sovereign Authority of the United States and the official capacities of all United States Governmental Offices, Officers, and Departments and is further evidence that the United States Federal Government exists today in name only. The receivers of the United States Bankruptcy are the International Bankers, via the United Nations, the World Bank and the International Monetary Fund. All United States Offices, Officials, and Departments are now operating within a de facto status in name only under Emergency War Powers. With the Constitutional Republican form of Government now dissolved, the receivers of the Bankruptcy have adopted a new form of government for the United States. This new form of government is known as a Democracy, being an established Socialist/Communist order under a new governor for America. This act was instituted and established by transferring and/or placing the Office of the Secretary of Treasury to that of the Governor of the International Monetary Fund. Public Law 94-564, page 8, Section H.R. 13955 reads in part: "The U.S. Secretary of Treasury receives no compensation for representing the United States." Gold and silver were such a powerful money during the founding of the united states of America, that the founding fathers declared that only gold or silver coins can be "money" in America. Since gold and silver coinage were heavy and inconvenient for a lot of transactions, they were stored in banks and a claim check was issued as a money substitute. People traded their coupons as money, or "currency." Currency is not money, but a money substitute. Redeemable currency must promise to pay a dollar equivalent in gold or silver money. Federal Reserve Notes (FRNs) make no such promises, and are not "money." A Federal Reserve Note is a debt obligation of the federal United States government, not "money." The federal United States government and the U.S. Congress were not and have never been authorized by the Constitution for the united states of America to issue currency of any kind, but only lawful money, gold and silver coin. It is essential that we comprehend the distinction between real money and paper money substitute. One cannot get rich by accumulating money substitutes, one can only get deeper into debt. We the People no longer have any "money." Most Americans have not been paid any "money" for a very long time, perhaps not in their entire life. Now do you comprehend why you feel broke? Now, do you understand why you are "bankrupt," along with the rest of the country? Federal Reserve Notes (FRNs) are unsigned checks written on a closed account. FRNs are an inflatable paper system designed to create debt through inflation (devaluation of currency). when ever there is an increase of the supply of a money substitute in the economy without a corresponding increase in the gold and silver backing, inflation occurs. Inflation is an invisible form of taxation that irresponsible governments inflict on their citizens. The Federal Reserve Bank who controls the supply and movement of FRNs has everybody fooled. They have access to an unlimited supply of FRNs, paying only for the printing costs of what they need. FRNs are nothing more than promissory notes for U.S. Treasury securities (T-Bills) - a promise to pay the debt to the Federal Reserve Bank. There is a fundamental difference between "paying" and "discharging" a debt. To pay a debt, you must pay with value or substance (i.e. gold, silver, barter or a commodity). With FRNs, you can only discharge a debt. You cannot pay a debt with a debt currency system. You cannot service a debt with a currency that has no backing in value or substance. No contract in Common law is valid unless it involves an exchange of "good & valuable consideration." Unpayable debt transfers power and control to the sovereign power structure that has no interest in money, law, equity or justice because they have so much wealth already. Their lust is for power and control. Since the inception of central banking, they have controlled the fates o Unwittingly, America has returned to its pre-American Revolution, feudal roots whereby all land is held by a sovereign and the common people had no rights to hold allodial title to property. Once again, We the People are the tenants and sharecroppers renting our own property from a Sovereign in the guise of the Federal Reserve Bank. We the people have exchanged one master for another. This has been going on for over eighty years without the "informed knowledge" of the American people, without a voice protesting loud enough. Now it’s easy to grasp why America is fundamentally bankrupt. Why don’t more people own their properties outright? Why are 90% of Americans mortgaged to the hilt and have little or no assets after all debts and liabilities have been paid? Why does it feel like you are working harder and harder and getting less and less? Their lust is for power and control. Since the inception of central banking, they have controlled the fates of nations. The Federal Reserve System is based on the Canon law and the principles of sovereignty protected in the Constitution and the Bill of Rights. In fact, the international bankers used a "Canon Law Trust" as their model, adding stock and naming it a "Joint Stock Trust." The U.S. Congress had passed a law making it illegal for any legal "person" to duplicate a "Joint Stock Trust" in 1873. The Federal Reserve Act was legislated post-facto (to 1870), although post-facto laws are strictly forbidden by the Constitution. [1:9:3] The Federal Reserve System is a sovereign power structure separate and distinct from the federal United States government. The Federal Reserve is a maritime lender, and/or maritime insurance underwriter to the federal United States operating exclusively under Admiralty/Maritime law. The lender or underwriter bears the risks, and the Maritime law compelling specific performance in paying the interest, or premiums are the same. Assets of the debtor can also be hypothecated (to pledge something as a security without taking possession of it.) as security by the lender or underwriter. The Federal Reserve Act stipulated that the interest on the debt was to be paid in gold. There was no stipulation in the Federal Reserve Act for ever paying the principle. Prior to 1913, most Americans owned clear, allodial title to property, free and clear of any liens or mortgages until the Federal Reserve Act (1913) "Hypothecated" all property within the federal United States to the Board of Governors of the Federal Reserve, -in which the Trustees (stockholders) held legal title. The U.S. citizen (tenant, franchisee) was registered as a "beneficiary" of the trust via his/her birth certificate. In 1933, the federal United States hypothecated all of the present and future properties, assets and labor of their "subjects," the 14th Amendment U.S. citizen, to the Federal Reserve System. In return, the Federal Reserve System agreed to extend the federal United States corporation all the credit "money substitute" it needed. Like any other debtor, the federal United States government had to assign collateral and security to their creditors as a condition of the loan. Since the federal United States didn’t have any assets, they assigned the private property of their "economic slaves", the U.S. citizens as collateral against the unpayable federal debt. They also pledged the unincorporated federal territories, national parks forests, birth certificates, and nonprofit organizations, as collateral against the federal debt. All has already been transferred as payment to the international bankers. We are reaping what has been sown, and the results of our harvest is a painful bankruptcy, and a foreclosure on American property, precious liberties, and a way of life. Few of our elected representatives in Washington, D.C. have dared to tell the truth. The federal United States is bankrupt. Our children will inherit this unpayable debt, and the tyranny to enforce paying it. America has become completely bankrupt in world leadership, financial credit and its reputation for courage, vision and human rights. This is an undeclared economic war, bankruptcy, and economic slavery of the most corrupt order! Wake up America! Take back your Country." ON INFORMATION AND BELIEF A GOVERNMENT LOOSES ITS SOVEREIGNTY WHEN I GOES BANKRUPT TO ITS CREDITOR. PERHAPS ITS CREDITOR THE FEDERAL RESERVE AND INTERNATIONAL MONETARY FUND ARE RUNNING THE SHOW FROM BEHIND THE SCENES OVER ALL THESE ACTORS IN WASHINGTON.

How and Which Bankruptcy Do I File for a Car Loan? I guess I have no other choice but to file bankruptcy. I owe too much on my car and paying 20%, with my wife on bed rest, I can't afford it anymore. Loan company will not help me out one bit. I do not want to get repoed, and still end up paying for a car that I don't have, after they sell it for about 90% less then what its worth. So Bankruptcy is the last option, but the only one left. For a car loan, which one do I file, Chapter 11 or 13, or is there another. I know I need to contact a Lawyer, but in a nutshell; what will happen. I know about credit being messed up for 10 years. Does my loan company still pick up the car. With the new laws, would I still have to make payments, or would I be clear of all debt related to the car. About how much does it cost. I live in Washington State. Thank you all for your help and feedback. One more question, please address. Will it affect my wife's credit file even though she is not on the loan.