Bankruptcy filing will stay on your credit score for years, which can hinder your ability to obtain a credit card, loan, or mortgage in the future. For this reason, we always recommend consulting an experienced attorney before choosing to file for bankruptcy. The type of bankruptcy you choose ...
If a debtor already in bankruptcy wins the lottery and does not declare the winnings, the court can determine that the debtor has not acted in good faith and has abused the system. In the bankruptcy statutes under 11 U.S.C. §707, the law allows the court to consider any postpetition ...
Stockton to enter bankruptcy. What happens next?
Bankruptcy does not come without cost, however. In the short term, it is recommended that you hire an attorney to walk you through the process, which means you need to be able to pay those fees. In the long run, bankruptcy will remain on yourcredit reportfor seven or 10 years, dependin...
The automatic stay is a provision of bankruptcy that goes into effect at the time you file your petition. The automatic stay is like a temporary discharge, in that it prevents creditors from trying to collect money from you for your outstanding debts. If you do not get a discharge in your...
What Happens When Your Landlord Is in BankruptcyThese difficult times may leave many residential and commercial tenants concerned about what will happen to them if their landlord ends up in bankruptcy. The US Bankruptcy Code gives the landlord in this situation a number of rights it would not ...
The federal Bankruptcy Code of 1978, the basis of modern bankruptcy law, reflects the Supreme Court's 1934 ruling that bankruptcy law was designed to offer a new opportunity in life' unhampered by debt.
OSI's Bankruptcy: What Happens Now?: Company leaders believe OSI will emerge from bankruptcy as a stronger player, but some industry insiders have doubts. What does OSI's voluntary Chapter 11 filing mean for the company and the collections industry as a whole?(Outsourcing Solutions Inc.)...
BANKRUPTCY: WHAT HAPPENS TO THE TRADE CREDITOR? 来自 掌桥科研 喜欢 0 阅读量: 15 作者: Newsom, Michael L 摘要: The article offers information on how creditors can develop strategies in dealing with their customers' bankruptcy. It mentions that creditors should know their customers' operations,...
Even to the experts, what happens next is unclear. While some of the frozen $300 million in bank accounts has been released to customers, according to filings in Synapse’s bankruptcy case, the defunct company’s court-appointed trustee has told the court that there is as much as...