Archives for 2019

Unique Issues with Disability and Bankruptcy

Admin on May 8, 2019 Posted in Bankruptcy Law, Blog

The Social Security Administration reports that there are approximately nine million individuals who receive social security disability benefits. Due to the amount of these benefits, however, it can prove challenging to pay for monthly living costs. As a result, many people supplement their disability income with credit cards, which can eventually lead to significant debt. […]

When You Should Think Twice About Filing for Bankruptcy

Admin on April 30, 2019 Posted in Blog, General Bankruptcy, Student Loans

Many people who have encountered financial difficulties believe that bankruptcy is the best possible option. While it is true that bankruptcy is often a good choice, there are a number of reasons why people should think twice before filing for bankruptcy in certain situations. The following will discuss some of the reasons why you might […]

Recover From Bankruptcy in Eight Easy Steps

Admin on April 15, 2019 Posted in Blog, General Bankruptcy, Rebuilding Credit

Rebuilding your credit score and financial situation after navigating bankruptcy can seem like an impossible task. It is common to worry that filing for bankruptcy will have a negative impact on your credit score and will prevent you from fulfilling your long term goals. By creating a recovery plan after bankruptcy, however, it is possible […]

What Not to do When Considering Filing for Bankruptcy

Admin on March 29, 2019 Posted in Bankruptcy Law, Blog, General Bankruptcy

If you have overwhelming debts and are experiencing constant harassment from bill collectors, it is understandable that you would want to seek relief in filing for bankruptcy. Before entering this process, however, it is critical to ask yourself if you are actually ready to file for bankruptcy or if it might be a better idea […]

Understanding the Chapter 7 Bankruptcy Means Test

Admin on March 15, 2019 Posted in Blog, Chapter 7 Bankruptcy

While many people have heard of the bankruptcy “means test,” they are uncertain about what exactly this test includes. The means test is used to determine if a person’s income is low enough to qualify to file for Chapter 7 bankruptcy. The purpose of this test is to block individuals with higher salaries from filing […]

Sears Files Chapter 11

Admin on January 15, 2019 Posted in Bankruptcy Law, Blog

Corporate bankruptcies are somewhat misunderstood. While Chapter 11 bankruptcy is called a reorganization, the idea that a business will emerge from bankruptcy stronger is not as simple as just filing for bankruptcy. Instead, there are other relevant factors required that will allow a bankruptcy to rehabilitate a business. Sears Currently, the once-mighty Sears Holdings is […]

Wasting Assets

Admin on January 10, 2019 Posted in Bankruptcy Law, Blog

When a business faces bankruptcy, questions arise regarding how to handle wasting assets. In general, a business may operate per its regular course of business while being overseen by a Bankruptcy Court. That is to say, a business generally need not motion the Court to approve an action when that action fits in the parameters […]

Chapter 11 Negotiation

Admin on January 5, 2019 Posted in Bankruptcy Law, Blog

Chapter 11 bankruptcy is a negotiation. As a result, it is imperative to consider strategies that keep your business alive during and after bankruptcy. Languishing in negotiation for a prolonged period of time can result in the liquidation, not reorganization, of a business. Chapter 11 Discharge In general, the goal of a bankruptcy is to […]