Bankruptcyoffers people who are overwhelmed by debt an opportunity for a fresh start through either liquidation (Chapter 7) or reorganization (Chapter 13). In both cases, the bankruptcy court can discharge certain debts, but not all types of debt. Once a debt has been discharged, the creditor ...
The bankruptcy of Lehman Brothers was the tipping point for the 2008 financial crisis, but it wasn't the only one. Overall, the factors involved in the 2008 crisis included extremely loose lending and trading policies for institutions. This lack of rigor led to large losses from defaults that...
However, some business lenders check personal credit primarily to rule out serious problems, like an unfinished bankruptcy or to deter fraud. In those cases, low credit scores may not be a disqualifying factor. Additionally, some providers look primarily at business revenues during the underwriting ...
For example, say the IRS has a federal tax lien on a property that you need to sell immediately to avoid bankruptcy. You have paid the taxes necessary to lift the lien, but the IRS hasn't yet processed all the paperwork. The Taxpayer Advocate Service could help get the lien lifted....
“And while a bankruptcy can wipe off your debt almost immediately, you’ll continue to be perceived as a risky borrower for a long time.” Liens. A lien ensures the legal right to a particular asset that can be used as collateral to secure a debt. So, for example, a mortgage lien ...
If a debt collector does sue you, there are a number of actions you may want to consider beyond hiring a consumer law attorney. Filing for bankruptcy or attempting to negotiate a settlement with the debt collector may both be appropriate paths for resolving your financial challenges. ...
With most bankruptcy attorneys, you have the job of both managing the law and also managing a business. Many of the attorneys I work with love the former and not the latter. With managing a business, you often have to find potential bankruptcy clients. This can be challenging for bankruptcy...
Mr. Wathen was always prompt, got hearings scheduled quickly and the entire process seemed like a walk in the park compared to the stories of other bankruptcy attorneys. I wouldn't trust anyone else with bankruptcy law and probate other than Alex Wathen. ...
“Part of being the lawful and responsible gun owner like we talk about all the time here is to know what the law is in every situation how it applies to you in any instance that you may find yourself,” he says. Kirk’s final thoughts circle back to the principles of responsible gun...
Can Tax Sales Be Avoided in Bankruptcy CasesZachary W. Langrehr