Bankruptcy Court Finds “Critical Vendor” Label Provides No Insulation from Preference Claims
Admin on September 15, 2021 Posted in Bankruptcy News, Blog, Chapter 13 Bankruptcy, Chapter 7 BankruptcyIn what could likely end up an influential ruling, a Delaware court recently held that securing a “critical vendor” status in Chapter 11 commercial bankruptcy case ultimately offers no defense in situations where the vendor later faces legal action for the recovery of preferential payments that the debtor recoups shortly before bankruptcy. The Role of […]
Can I File for Bankruptcy if I am Unemployed?
Admin on November 15, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 BankruptcyPeople who file for Chapter 7 bankruptcy must meet certain income qualifications. In most cases, debtors who fail to meet income requirements do not qualify for Chapter 7. People with higher income levels often must pursue a repayment plan under Chapter 13 to take control of debt. People who are currently unemployed or who have […]
Tips on Navigating Chapter 13 Bankruptcy as a Business Owner
Admin on October 30, 2020 Posted in Blog, Chapter 13 BankruptcyNo two bankruptcies are the same. While there are some cases where the person or business pursuing bankruptcy must liquidate assets as in Chapter 7 bankruptcy, other times a person might end pursuing Chapter 13 bankruptcy which means they need not worry about selling anything. Instead, Chapter 13 bankruptcy involves restructuring and reducing the amount […]
Tips on Navigating Marriage and Bankruptcy
Admin on September 10, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General BankruptcyMany people look at marriage as one of the momentous events in their life. If you or your fiancee is struggling with debt and debating whether to file bankruptcy, however, your situation can easily turn into a confusing one. You might even be wondering whether it is a good idea to file for bankruptcy or […]
Buying a House While in Chapter 13 Bankruptcy
Admin on August 30, 2020 Posted in Blog, Chapter 13 BankruptcyDespite the economic downturn brought on by the coronavirus pandemic, low mortgage rates remain an attractive option for many people considering buying a house. Even if you are in the middle of a Chapter 13 bankruptcy repayment, you might still be able to obtain a mortgage loan and buy a new home. While there are […]
Exceptions to the Automatic Stay
Admin on July 30, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General BankruptcyAn automatic stay is one of the critical parts of filing bankruptcy. The stay stops most collection efforts against a debtor as soon as that individual files for bankruptcy. These orders exist without the need for a court order. To give you a better idea of the role that the automatic stay plays in a […]
Terminating Commercial Leases and Bankruptcy: What You Need to Know
Admin on June 15, 2020 Posted in Blog, Chapter 13 BankruptcyBusiness owners have a lot to juggle, even in bankruptcy. If you are a business owner who rents business space and recently filed for bankruptcy, you are likely curious about how bankruptcy will impact your commercial lease. There are several critical issues to consider in this situation, and how your lease will be impacted depends […]
A Quick Guide to Bankruptcy Schedules
Admin on May 29, 2020 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 Bankruptcy, General BankruptcyIf you are navigating the bankruptcy process, you have likely heard multiple people refer to bankruptcy schedules. Overwhelmed debtors are often confused about exactly what role schedules play in their bankruptcy process. Schedules are the primary forms that debtors rely on to provide their financial details, which play a vital role in navigating the bankruptcy […]
What Assets are Exempt in California Chapter 7 Bankruptcies?
Admin on March 15, 2020 Posted in Bankruptcy Law, Blog, Chapter 13 Bankruptcy, Chapter 7 BankruptcyIndividuals in California who file for bankruptcy are often given a second chance at building a strong credit record. This does not come without a compromise, though. When Chapter 7 bankruptcy is involved, a person must often hand over a substantial amount of their estate in the process. A bankruptcy trustee then manages the estate […]
What to Ask Your Lawyer Before Filing for Bankruptcy
Admin on November 22, 2019 Posted in Blog, Chapter 13 Bankruptcy, Chapter 7 BankruptcyFinancial difficulties can leave you uncertain about what to do next. While bankruptcy is one of the best ways to take control of your finances, the bankruptcy process can be complex and intimidating for many, which is why the assistance of an experienced bankruptcy lawyer is necessary. There are several important questions to ask […]