All Alaska bankruptcy records help you to check the credit history of an individual or an organization when you are on the verge of striking up a business deal with them. According to the state of Alaska Bankruptcy records, there were 697 Alaska bankruptcy cases that were filed in the Alaska bankruptcy court in 2008. If we look at the United States bankruptcy court Alaska records of the past year, it would reveal that of all the total number of bankruptcy cases filed all across the country, bankruptcy in Alaska accounted for 0.07% of the total number. The total number of Alaska Bankruptcy Filings point to the fact that it was one of those states with the minimum number of such cases.
If you are a consumer residing in the state of Alaska, then you can file for bankruptcy according to the laws mentioned in Chapter 7, Chapter 11 and Chapter 13 of bankruptcy laws. Chapter 7 lays down Straight Bankruptcy Laws according to which an individual who files for bankruptcy is exempted from all the past debts and can start anew.
Chapter 11 is often referred to as the reorganization chapter. It allows individuals, corporations, and partnerships to reorganize their debt without liquidating all their assets. In such a case, a debtor presents a plan before his creditors that will allow him to reorganize personal or financial affairs without having to liquidate all assets and become financially productive once again. However such a plan needs to be approved by the Court. Chapter 13 sets down the rules of wage earner bankruptcy wherein the individual can opt for a repayment plan and clear the debt.
Chapter 7 of the bankruptcy law is also known as liquidation. It is a process that allows a trustee to sell the non-exempt property of the debtor and distribute the cash among the creditors. It is applicable for organizations, partners, individuals and married couples. According to the federal bankruptcy laws, there are certain prerequisites that need to be fulfilled before filing for bankruptcy. When you are filing for bankruptcy in Alaska, you can do so after fulfilling certain criteria. Your income should be below the median income range of Alaskan families as calculated by the Census Bureau. If your income is more than the accepted mark, your income in the last six month is taken into account. These are inclusive of your taxes, payments for your car and mortgage.
In case of Alaska, the median income designated by the Census Bureau for filing bankruptcy, post 15th March for an individual is $49,325, $71,550 for a family comprising a couple of members, $72,079 for a family of three and $91,754 for a four member family.
Filing for bankruptcy petition in the state of Alaska, stops most actions such as collection against the debtor's properties. This is called automatic stay. It begins automatically when a bankruptcy case is filed with the Clerk's Office and once it is in place, creditors are prohibited from taking certain actions against a debtor until and unless they seek relief from the stay.
According to Alaska Bankruptcy Laws, the things that you may still retain after you have filed for bankruptcy include jewelry worth $1,250, health aids, a house worth $ 67,500, burial plot, disability benefits, personal injury recoveries, insurance proceeds for accidental death, pets worth $1,250, household goods, musical instruments and books and heirlooms worth $3,750, pensions, alimony and child support funds, public benefits like unemployment compensation, crime victims' compensation and workers compensation, life insurance and property of a business partnership.
Verify Alaska Bankruptcy Court Records and More
There are numerous offices that function as divisions of the Alaska bankruptcy court. These are situated in places like Fairbanks, Nome, Anchorage, Ketchikan and Juneau. If you are a resident of Alaska, you can file your bankruptcy case in these offices. Prior to going to an office, you should check the timings. For example if you are visiting Anchorage Alaska Bankruptcy office, do make a note of their timings.
For filing bankruptcy in Alaska, you need to be aware of the Federal Rules of Bankruptcy Procedure as well as the local Alaska bankruptcy laws. Information on these is available with Alaska bankruptcy lawyers and Alaska Bankruptcy attorneys. Information for bankruptcy in Alaska is also available on the website of the states bankruptcy court Alaska. You can get information of Alaska bankruptcy by calling up the VCIS or Voice Case Information System at 1-888-878-3110 or (907) 271-2658. It is a round the clock service and you can retrieve information from these Alaska bankruptcy records regarding the case, the one who has filed it and the Alaska bankruptcy attorney working on it.