When a company files for Chapter 11 bankruptcy, their bankruptcy attorney usually files what is called 1st day motions. First day motions are requests by the debtor-company to pay certain creditors so that the company can continue to operate. What Are Some Examples of First Day Motions In Chapter 11 Bankruptcy? Below are some examples [...]
Budgeting After Bankruptcy While filing bankruptcy is a big step towards your financial fresh start, it is only the first step. Debtors who benefit the most from their bankruptcy make sure that they improve their financial skills after bankruptcy so that they can increase the chances that they will never need to file bankruptcy again. [...]
Things Self-Employed People Need to Know About Bankruptcy Many self-employed individuals who run into financial difficulty are under the false assumption that they don't qualify for bankruptcy. But the truth is that bankruptcy is for all people, self-employed, wage-earners, unemployed and business men and women. But just like with other things, filing for bankruptcy as [...]
When you're overwhelmed by debts, bills and other financial troubles, it may be difficult to see the overall picture of your financial condition. Coming up with a plan for overcoming your financial difficulties can be challenging and deciding whether or not you should file bankruptcy can be a very hard choice. To help you get [...]
Are You Robbing Your Future To Pay Debt? Most of the mistakes that debtors make in their bankruptcy are made well before they ever consider bankruptcy as an option. This is what happens - a debtor falls on hard times, they get scared, they get mad and they vow to pay back every last dime [...]
Being injured at work can be both emotionally and financial devastating; but what happens when your injury prevents you from ever working again? One of the first things disabled workers do when they discover they can no longer work is apply for disability insurance through the state. But a growing number of disabled workers are [...]
Protecting Your Retirement In Bankruptcy The recession has delayed the retirement of many Americans over 55; but it's often their attempts to stave off bill collectors that can actually damage their retirement savings during bankruptcy. Below are three steps every debtor should take in order to save their retirement during bankruptcy: Save for retirement even [...]
The recession has battered America's wealth. According to Federal Reserve, America's collective wealth is now $53.5 trillion compared to our pre-recession wealth of $65.8 trillion. What does that loss of wealth look like for you? Devalued homes, assets lost to creditors, retirement accounts obliterated by Wall Street greed and failures? Bankruptcy, mostly known for its [...]
If you have been watching the news lately, you might have noticed that there has been a lot of what we will call "bankruptcy shaming" taking place on both sides of that aisle. What is bankruptcy shaming? Bankruptcy shaming is when one politician attempts to shame another politician because they filed bankruptcy at some point [...]
As the economic environment has worsened for all age groups, more baby boomers are filing bankruptcy than ever before. But why are so many baby boomers seeking the protection of bankruptcy during this recession? The high unemployment rate is impacting more workers even those workers who have traditionally been protected from layoffs during a recession. [...]