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Nevada.

February 06, 2012

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Bankruptcy News

President Signs Bankruptcy Abuse Prevention, Consumer Protection Act

THE PRESIDENT: Thank you all. Please be seated. Welcome. Thank you very much for coming today. Today we take an important action to strengthen -- to continue strengthening our nation's economy. The bipartisan bill I'm about to sign makes common-sense reforms to our bankruptcy laws. By restoring integrity to the bankruptcy process, this law will make our financial system stronger and better. By making the system fairer for creditors and debtors, we will ensure that more Americans can get access to affordable credit.

I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator Chuck Grassley of the Senate -- I think you told me you'd been working on this bill for nine years. That's a long time. I appreciate Congressman Jim Sensenbrenner from the House for being the sponsor in the House. Thank you.

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Did You Know?

Repossession is the power of the creditor to take back goods
There are two types of loans: secured and unsecured. A secured loan is one that requires you to pledge something as collateral. For example, if you purchase a car, the creditor will usually require you to put up the car as collateral. On the other hand, an unsecured loan, does not require collateral. Using a credit card is usually an unsecured loan.

	Newsroom
	News about Bankruptcy in Nevada and nationwide: Eighth Circuit Court of Appeals Finds that the U.S. Commodity Futures Trading Commission Properly Pursued Charges Against NRG Energy, Inc. in Minnesota District Court August 10, 2006 Eighth Circuit Court of Appeals Finds that the U.S. Commodity Futures Trading Commission Properly Pursued Charges Against... Read more > President Signs Bankruptcy Abuse Prevention, Consumer Protection Act I'm pleased to be joined today by the Attorney General Al Gonzales. I want to thank the bill sponsors in the House and the Senate -- Senator ... Read more > U.S. Bankruptcy Court Declines GM Plea to Halt Delphi Hearing U.S. Bankruptcy Court Declines GM Plea to Halt Delphi Hearing NEW YORK: A U.S. bankruptcy court judge has turned down Gen... Read more > More Bankruptcy News >

Bankruptcy Terms

Today's Terms

Chapter Twenty

Definition:
An unofficial term describing the filing of a Chapter 7 proceeding followed by a Chapter 13.

Avoidance power

Definition:
The power of the court to invalidate certain obligations or transactions undertaken by a debtor prior to filing bankruptcy.

Default

Definition:
The failure by an entity to abide by the covenants in a debt obligation or other agreement to which it is a party. The most common default is non-payment of interest or principal.

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Bankruptcy Resources

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Bankruptcy Hot Topics

Topics Related to Bankruptcy:

Chapter 7
Chapter 13
Chapter 11
Chapter 12
Chapter 9

Nevada Bankruptcy Attorney

If you live in the following cities and need a Bankruptcy attorney you should contact our Bankruptcy Attorney as soon as possible:

Boulder City
Carson City
Elko
Fallon
Gardnerville
Henderson
Las Vegas

North Las Vegas
Pahrump
Reno
Sparks
Sun Valley
Winnemucca

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