What is Bankruptcy?

What is Bankruptcy

What is Bankruptcy?

Bankruptcy allows individuals, couples, and businesses that cannot meet their financial obligations to be excused from repaying some or all of their debt. Bankruptcy has been in existence since ancient times. In the United States, the rules and procedures for filing bankruptcy are governed by federal law. States are prohibited from legislating in this area of the law.

Generally speaking, there are two types of bankruptcy. In a liquidation bankruptcy, debtors must surrender their property, which is sold, and the proceeds distributed to creditors. In return, all debts are permanently discharged. In a reorganization bankruptcy, debtors are allowed to keep their property. But the debtors must agree to an installment plan to repay creditors a portion of the amount they owe.

Filing for bankruptcy involves submitting a petition and fee to the bankruptcy court. The fee is close to $300 for most personal bankruptcies. The petition will contain sworn statements by the debtors concerning the amount of money they owe, their income and expenses, as well as a complete list of all of their assets. After filing, a court hearing is held to review the information in the petition.

Chapter 7 bankruptcies are by far the most common. These are liquidation bankruptcies in which the debtors must turn over all “non-exempt” property to a supervising officer known as the bankruptcy trustee. Property is exempt if it falls within specific categories of assets that debtors are allowed to keep, such as a certain amount of clothing, household items, tools for work, and in some instances, vehicles and the family home.

The Chapter 7 trustee will take the debtor’s non-exempt property (if there is any), and sell it. The money will be paid to the debtor’s creditors. This may result in creditors receiving a small fraction of their claims. The balance of the debtor’s loans and obligations are forgiven and can never be collected. Creditors who attempt to collect debts that have been discharged face severe penalties under federal law.

Keep Your Property

The fact that a liquidation bankruptcy wipes out debt completely is obviously attractive to anyone who cannot afford to pay their bills. But what about people who have non-exempt property that they do not want to give up? Chapter 13 is a reorganization bankruptcy. It allows debtors to keep their property by agreeing to make monthly payments toward their debt over the course of three to five years.

Chapter 13 bankruptcies offer a number of benefits besides allowing debtors to keep their property. For example, certain types of secured debt, like a car loan, can be restructured by reducing principal to the market value of the collateral, and lowering payments by extending the repayment period to 60 months. Other obligations, like mortgages, student loans, and tax liabilities can be modified as well. Creditors are given no choice in the matter.

Bankruptcy is not available to everyone. Those who have had their debts discharged in a Chapter 7 within the past eight years cannot re-file. For Chapter 13, the waiting period is six years. Too much disposable income is also a problem. Congress has established a “means test” for this purpose. Debtors who make enough money to repay their creditors will be barred from filing a liquidation bankruptcy, though reorganization may be an option.

Businesses that have become insolvent but want to stay in business may be able to file a Chapter 11 bankruptcy. Like a personal reorganization, Chapter 11 allows businesses to obtain protection from their creditors while they put together a repayment plan. Liabilities can be reduced and restructured to give the business another chance at achieving profitability.

Whether a debtor is considering filing under Chapter 7, 11, or 13, they must comply with a vast number of federal laws and regulations. An error at any step of the process can result in the court refusing to discharge the debtor’s liabilities. When the bankruptcy process ends this way, the consequences are disastrous. With so much at stake, hiring a licensed bankruptcy attorney at the outset is wise investment.

What is Industrial Law?

What is Industrial Law

What is Industrial Law?
Industrial Law relates to the laws governing industrial enterprises. These can include a wide range of legal topics, from employment laws to environmental concerns, contracts, industrial relations, and worker safety regulations. Industries vary widely and the policies for each is as unique as the business to which it relates.
Employment and Labor Issues
Employment and labor laws are relevant to any commercial enterprise, and industry is no exception. Indeed, industrialization led not only to the modern conveniences of our technological age, but also the rise of organized labor unions. Employment and labor issues in industrial enterprises are particularly important, given the often hazardous nature of the work.
Industrial Accidents
Another major area of concern to industrial laws is accidents. Industrial workplaces vary widely depending on industry and purpose, from the clean rooms of high-tech manufacturing, to the often dangerous and noisy welding floors of heavy industry. Factories, warehouses, chemical plants, refineries, and many other facilities may also be considered industrial workplaces. Common industrial accidents include forklift accidents, falling objects, slips, trips, and falls, machinery or equipment injuries, explosions or blast injuries, and chemical burns or inhalation. Industrial accident injuries can often be more severe than other workplace injuries given the nature of the work. Indeed, according to the Bureau of Labor Statistics, it is estimated that two out of every 1,000 industrial workers will lose their life from a workplace accident. As a result, personal injury laws are a major area of practice related to industrial laws.
OSHA Regulations
The Occupational Safety and Health Administration (OSHA) monitors workplace safety conditions, including in the industrial sector. According to OSHA, many of the top violations resulting in citations are given to industrial workplaces. Common problems include communication hazards, lack of respiratory protection, poor electrical design, inadequate or disabled machine guards, and improper or unlicensed use of powered industrial trucks.
Other Areas of Industrial Law
As with any business, there are numerous other areas of legal concern for those in the Industrial sector. These can include contracts, real estate questions, shipping and distribution, environmental concerns, and many others.
If you have questions about Industrial Law, feel free to review the materials below on this page. Additionally, for further assistance, you can contact an attorney by visiting our Law Firms page and finding a lawyer in your area.
Copyright HG.org

Industrial Injuries Law

Industrial Injuries Law

Industrial Injuries Law is most closely related to Workers’ Compensation Law, although, in some instances it can overlap with the practice areas of Personal Injury and Wrongful Death. This area of law originated in an effort to compensate workers who had been injured while performing their job duties. However, in the 1970’s, with the passage of the Occupational Safety and Health Act, the focus started to concentrate more on the prevention of these injuries and on the study of occupational hazards and their long-term effects. This led to the advent of widespread industrial safety programs, which have become a necessary consideration for all types of businesses.

Most industrial injuries generally fall into three categories. Currently, the type becoming most common is repetitive injuries, resulting from ergonomic hazards, and caused by stress due to performing repetitive tasks over a prolonged period of time, as well as improper lifting. The other two categories are characterized by chemical hazards and physical hazards.

Compensation for the majority of industrial injuries is obtained through the filing of workers’ compensation claims. However, in situations where there is proven neglect or other blatant legal violations committed by the employer, the injured worker may be able to seek damages through a personal injury lawsuit instead. And when severe violations result in the death of the worker, it might be possible for the worker’s family to file suit for wrongful death. This area of law, deciding if a worker may sue for damages rather than pursue a workers’ compensation claim, can be murky and is best addressed with the assistance of an experienced Personal Injury or Workers’ Compensation Attorney. Copyright HG.org

Construction Injury Law

Construction Injury Law

Construction Injury Law deals primarily with workers’ compensation claims resulting from construction accidents, as well as the safety laws, regulations and standards governing the construction industry. The Occupational Safety and Health Administration (OSHA) is the governing regulatory body for construction site safety. Most states have also adopted some form of safety regulations.

Many construction workers are only able to avail themselves of workers’ compensation when they have a work injury, although there are some exceptions. Workers’ compensation benefits include wage replacement, medical coverage, vocational rehabilitation, and other assistance.

Because construction workers who have been injured on the job may have a workers’ compensation claim, a personal injury claim, and sometimes both, it is advisable to consult with an attorney knowledgeable in construction accident and injury law to determine your rights. Copyright HG.org

What is Catastrophic Injury Law

What is Catastrophic Injury Law

Catastrophic Injuries - Catastrophic injury means “consequences of an injury that permanently prevent an individual from performing any gainful work.” A catastrophic injury or illness usually occurs suddenly and without warning and can leave a person suffering from permanent disabilities for the rest of his/her life. Catastrophic injuries are any injuries that have serious, long-term effects on the victim. Catastrophic injuries can often put serious stress on the victim's family because they may need constant supervision or assistance for the rest of their lives, as well as a lifetime of rehabilitation and medical bills.

Catastrophic injuries can be caused by any number of different circumstances, and are considered catastrophic, due to the enormous impact they have on the lives of the individuals who experience them. A catastrophic injury or illness very often causes severe disruption to the central nervous system, such as spinal cord injuries or severe burn injuries, which in turn affects many other systems of the body. Some of the most common catastrophic injuries include: serious head trauma; accidental amputation; multiple bone fracture; eye injury; shoulder injury; foot injury; back injury; neck injury; brain injury; severe burns; organ damage; spinal cord and neurological disorders, which can result in paralysis; paraplegia; and quadriplegia. Catastrophic injury settlements seek to compensate victims for these lifelong disabilities.

What is Catastrophic Injury Law? If a catastrophic injury was caused by the negligent or intentional act of another, or by a dangerous or defective product, a personal injury claim by the victim will be an integral factor in determining his/her future quality of life, including the quality of the medical care and other support he/she will receive. Because of the huge financial implications a catastrophic injury has, one of the most important aspects of bringing a personal injury claim is the determination of the value of such a claim.

Legislatures throughout the country have imposed caps on "non-economic" damages, which can be quite low. A catastrophic injury lawyer can help recover compensation for the damages that the victim or his/her loved one has experienced, including: lost wages; loss of enjoyment of life; mental anguish; pain and suffering; lost future wages; permanent disability; and medical bills.

What is Brain Injury Law

What is Brain Injury Law

What is Brain Injury Law? This type of injury is generally categorized as a catastrophic injury in tort law and involves the representation of people who have been injured as the result of the wrongful conduct or negligence of someone else, or the representation of the individual(s) being sued for the alleged negligence that caused the brain injury.

Because brain injuries are so diverse and complicated, is can be a complex legal issue. In addition to negligence and tort law, these injuries can also touch on administrative law, such as workers’ compensation or social security and disability. There’s also a great deal of legislation being proposed in an effort to decrease incidences of recreational and sports-related head injuries, and motor vehicle related brain injuries, and, more specifically, concussions.

If you or a loved one has suffered a brain injury as the result of another party’s negligence, an attorney knowledgeable in this area of law, can assist you in recovering compensation for the injury, suffering, medical and hospital care, current and future wage loss and the cost of future care and rehabilitation.

What is Birth Injury Law

What is Birth Injury Law

What is Birth Injury Law? This is a subset of medical malpractice law and includes personal injury cases stemming from a failure to adequately respond to the following circumstances: maternal or fetal bleeding; fetal distress or anoxia (lack of oxygen); umbilical cord complications; the need for a cesarean section; infections; the anticipation of a large baby and related complications; and other maternal health complications. Injury can also result from incompetent or improper use of forceps or a vacuum extractor.

Negligent prenatal care can also result in harm to the baby and/or mother. This can include the failure to diagnose the mother’s medical condition; failure to identify birth defects; failure to identify an ectopic pregnancy; or failure to diagnose a disease that could be contagious to the baby.

Birth injury cases are generally classified by two types: brain injury, or anoxic brain injury, where the physician or the medical staff failed to properly monitor the birth process with fetal monitoring and the failure to order a caesarean section in a timely fashion; and dystocia, which is caused by the failure to properly help the baby down the vaginal canal during a vaginal delivery and can result in various types of palsy and other complications.

Birth injury lawsuits seek to provide the families of the injured baby with financial compensation for the child’s injury.