Most business owners are willing to do anything to make sure that their company is successful. From the self starting sole-proprietor to the CEO of a multinational corporation, maintaining the health of their business is of utmost importance. But what happens when things go wrong? What happens when the money is short but the bills [...]
What You Have to Disclose During Bankruptcy When filing bankruptcy, it's important that the debtor operate in good faith and be honest with both their bankruptcy attorney and they bankruptcy trustee. So along those lines, below are a few things that debtors are expected to honestly disclose when they file bankruptcy: Disclose any pre-bankruptcy asset [...]
Maximizing Your Bankruptcy Exemptions One of the benefits of working with an experienced bankruptcy attorney is that they have the knowledge necessary to help a debtor protect their assets in a way most laymen cannot. One of the skills that bankruptcy attorneys use is exemption planning. In bankruptcy there are a certain amount of assets [...]
Bankruptcy law is complex and its long list of requirements and no-no's can trip up even the most conscientious of us. Below are four of the deadliest bankruptcy sins that every debtor should avoid: Hiding assets. Hiding assets in your bankruptcy case will not only cause your case to be dismissed, it could put you [...]
A bankruptcy filing remains on your credit report for ten years after you file. But there are a few things that every debtor should do once that ten year period is up after bankruptcy. Things You Should Do 10 Years After Bankruptcy Get a copy of your credit report from all three credit reporting agencies [...]
Stopping a Property Tax Sale Through Bankruptcy If you're having financial challenges many debts fall by the wayside. But one of the most potentially destructive debt obligations (when you fail to pay them) is property taxes. Failing to pay your property taxes or ad valorem taxes as they are known in Texas could result in [...]
In the Chapter 11 bankruptcy case, In re Charles R. Livecchi, Sr., the pro se debtor was forced into a Chapter 7 bankruptcy after he failed to present a realistic and repayment plan. On April 8, 2009, Appellant filed a voluntary Chapter 11 bankruptcy petition. On January 21, 2010, the United States Trustee filed a [...]
When debtors choose to file bankruptcy they are often at the end of their financial rope. This could be that they have fallen behind on their utility payments, have no money in the bank or they have lost health insurance for their kids. Financial Aid to File Bankruptcy Below are a list of a few [...]
The Administrative Office of the U.S. Courts has released its 2010 Fiscal Year statistics revealing that the overall number of bankruptcy filings increased 13.8 percent in the period of October 1, 2009 to September 30, 2010. In FY 2010, filings rose for personal bankruptcy chapters: Chapter 7 filings in FY 2010 totaled 1,146,511, up 15.9 [...]
So far this year, 143 banks have collapsed - that's more than all of last year - and many experts expect that even more will go under. And while the average consumer isn't expected to be adversely affected by a bank failure, many businesses could find themselves placed in so much turmoil that they may [...]