Filing for bankruptcy in Spain is very costly for both small firms and their creditors. Due to this, the capital structure of micro firms is biased towards mortgage loans, as it allows them to avoid bankruptcy by carrying out debt enforcement via mortgage foreclosures, which are cheaper ...
Yes, filing for bankruptcy can reorganize or wipe out your debts, thus getting creditors off your back and giving you a fresh start. But do-overs and second chances aren’t free. A bankruptcy will remain on your personal credit history for up to 10 years, and the process can knock as m...
What are the pros and cons of filing bankruptcy? What alternatives are out there? Is it moral not to pay creditors? When collectively considering the moral and long term implications for declaring bankruptcy, how wise of an action is it really? The company will need to do replacement analysis...
You have seen the stories, a staggering number of Professional Athletes and Entertainers filing Bankruptcy despite earning millions of dollars in salary or royalties. 78% of NFL players, 60% of NBA players and a large number of MLB players are bankrupt within 5 years of leaving the game. Plen...
borrowers await outcome of filing. The article discusses the aftermath of the filing of bankruptcy of CIT Group in U.S. Bankruptcy Court in New York. The filings did not include its operating subsidiaries and businesses, such as its 2.5 billion U.S. dollars financing arm ... E Melanie - ...
Avoiding a deficiency judgment without filing bankruptcy Your credit will suffer less damage than it would with a foreclosure. We may be able to negotiate with your lender’s attorney to report your mortgage as paid in full in an effort to minimize the impact on your credit rating. ...
For now, CIT has reopened the credit spigot and was back providing advances to clients, according to sources. But the commercial lender said in a regulatory filing Tuesday that a Chapter 11 bankruptcy filing remained a possibility if some bondholders declined to tender their holdings by Aug. 17...
such as additional time and expense. Perhaps you don’t have the marketing needs or budget to hire someone to market your law firm on a full- or even part-time basis. Hiring someone in-house means you need to have enough work and room in your budget to keep them busy. So, what are...
By filing for Chapter 13 bankruptcy, they were able to stop the foreclosure and remain in their home. With their now-steady income, they are able to pay their mortgage each month while also spreading the $25,000 back payment over a five-year period. However, if they fall behind in their...
A homeowner who has gone through a short sale may, with certain restrictions, be eligible to purchase another home immediately. While a foreclosure essentially lets you walk away from your home—albeit with grave consequences for your financial future, such as having to declare bankruptcy and destr...