What Are The 4 Main Causes of Bankruptcy?

2022-07-11T16:35:37+00:00June 28th, 2022|

When someone decides to apply for bankruptcy, it is usually because they have been struggling to keep up with their financial obligations for a while. They have finally reached a point where they can no longer see a way out. [...]

What Happens If I Declare Bankruptcy?

2022-07-11T16:29:21+00:00June 27th, 2022|

The act of bankruptcy is a legal process that allows individuals or businesses to have some or all of their debts discharged. This can provide much-needed relief for those struggling to make ends meet. It is often a solution used [...]

What Is the Difference Between Chapter 11 and Chapter 7?

2021-07-21T21:49:51+00:00June 14th, 2021|

What Is the Difference Between Chapter 7 and Chapter 13 Bankruptcy? Filing for bankruptcy is an important decision that can help you avoid your creditors’ collection activities and regain control over your finances. However, it is a serious and complex [...]

What is Chapter 11 bankruptcy, and might it avail me?

2021-03-11T22:10:13+00:00October 20th, 2015|

Chapter 7, Chapter 11, Chapter 13 … . An Orange County resident's head might spin when trying to grapple initially with the various forms of bankruptcy and the debt-relief options they provide. And that's OK. In fact, it is completely [...]

Despite High Assets, 50 Cent Files For Chapter 11

2020-02-03T14:05:34+00:00July 13th, 2015|

Being in control of high assets does not necessarily preclude the need for bankruptcy protection. If the sum of your debts matches the sum of your assets, then you may need to look into whether you qualify for Chapter 7, [...]

Can Businesses Sell Customer Data To Pay Off Creditors?

2021-05-04T21:15:18+00:00March 30th, 2015|

When businesses file for bankruptcy, they may often be compelled to sell certain assets in order to pay off existing creditors. This kind of financial reorganization can help businesses to remain competitive and it can aid others in protecting their [...]

Learning From SkyMall’s Chapter 11 Bankruptcy

2020-02-03T13:42:11+00:00January 30th, 2015|

When millions of travelers get settled into their airplane seats, they browse through SkyMall. This in-flight catalog offers airline passengers the chance to purchase a wide array of interesting and sometimes odd products. This catalog has had a presence in [...]

GM Case Illustrates Limits Of Business Bankruptcy Protections

2020-02-03T13:57:07+00:00June 23rd, 2014|

Earlier this month, dozens of claims tied to the recent General Motors defective ignition switch recall scandal were consolidated and sent before a federal court for matters of pretrial discovery. General Motors hopes that the process will continue to progress [...]

Rapper DMX Files New Chapter 11 Schedule Claiming $50 In Assets

2021-03-11T22:00:43+00:00September 23rd, 2013|

Rapper DMX, whose real name is Earl Simmons, is apparently running pretty low on cash. Once among the top-selling hip-hop artists in history, the performer filed for Chapter 11 bankruptcy in July. He had apparently built up over a million in alimony [...]

Prudent Holding Company’s Pre-Meltdown Chapter 11 Saves Bank

2020-02-03T14:30:48+00:00September 9th, 2013|

Recently, a bankruptcy filing by a Wisconsin bank holding company was held up by the New York Times’ DealBook blog as a model of prudent and, in fact, innovative management. Typically, when bank holding companies file for bankruptcy, it’s far [...]

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