Involuntary bankruptcy can only be filed underChapters 7 or 11of the Bankruptcy Code. Involuntary bankruptcy is not available underChapter 12which pertains to family farmers or family fishermen with regular income, or underChapter 13, which is available to individuals with regular income and often ch...
Deciding to file for personal bankruptcy is a tough choice, but you shouldn’t beat yourself up over it. Bankruptcy is specifically designed to help disperse the cloud of debt hanging over you. And it’s probably more common than you think: More than 430,000 people filed for bankruptcy in ...
When a firm declares bankruptcy, this decision has an impact on all the contracts signed by the firm. The law forces the firm to complete its performance in case of some contracts. On the other hand, the firm has the option to opt-out of some contracts. One such category of contracts i...
Bankruptcy is often seen as the quickest way out of extreme debt. While this may be true for some, there are several different types of bankruptcy, and which one is right for you will depend on your circumstances. We'll explore them here. ...
Chapter 7 bankruptcy is usually filed by an individual who has more debts than they can stay on top of. An individual or a business overwhelmed by debt can file for Chapter 7 bankruptcy. Some property is termed "exempt" and will not be sold in bankruptcy, but most will, with the proceed...
Bankruptcy is a legal proceeding that assists debtors who are overwhelmed by their debts or unable to meet their current debt repayment schedule. But the devil is in the details, as is often the case with legal proceedings. That's why it is important for any New York resident considering fi...
Bankruptcy sounds dire, but this doesn’t mean that Nasty Gal is going under for good. By filing for Chapter 11 protection, the brand now has a chance to restructure and get its business back in order. In the meantime, here’s a look back at Nasty Gal’s road to… well, either reco...
has to pay 15% billing fees compared to the standard rate of 3% or less. To put that rate into perspective, Kross notes that 15% is the kind of rate you are offered “when you file bankruptcy and then go to buy a car the next day.” It drastically affects their bottom line. For ...
We will provide you with valuable insights and practical tips to help you navigate through this complex and often intimidating process. It is crucial to note that while this guide provides general information on filing bankruptcy, it should not be considered as legal advice. Every individual’s ...
Plumer, Brad