The Positives of Bankruptcy It seems as though when anyone talks about bankruptcy, the negatives are always highlighted. For example, think back to the last conversation you had with a friend or family member about filing for bankruptcy. Did they focus on the positives of bankruptcy (a debt-free lifestyle, a fresh new start) - or [...]
After experiencing their third bankruptcy in ten years, Filene's Basement and Syms have decided to liquidate their stores nationwide. "The filings today are the result of a process that has been taking place for several months," Syms said. "Our board has conducted a rigorous assessment of all the strategic options and alternatives available and after [...]
Researching whether bankruptcy is the best option is no easy task - especially when a large majority of what you find online tends to give credit to major bankruptcy myths. With rumors circulating that declaring bankruptcy will immediately be known by the public (in most cases, that's not true) to bankruptcy's permanent impact on your [...]
If you intend to surrender your home in bankruptcy, you may wonder when you need to move out. Below are a few guidelines on when you may need to move out of your home: No Surprises First, it's important to know that there are no surprise evictions in bankruptcy. No one will suddenly show up [...]
Credit-Building Myths After declaring bankruptcy, your primary focus might be to rebuild your credit score. After all, you know that while bankruptcy is a black mark on your credit score, it's not a death sentence for your finances: bankruptcy is on your credit score for seven to ten years, but lenders will start working with [...]
The IRS is amongst a small group of creditors objecting to the Dallas Stars' bankruptcy exit plan. The federal taxing authority is challenging the plan alleging that it infringes upon its rights. The federal tax agency detailed its opposition to the National Hockey League team's Chapter 11 plan of reorganization, arguing that the plan doesn't account [...]
Bankruptcy is a tool that should be used by people who have experienced a financial crisis and need help to recover and start fresh. A bankruptcy can do several things to help you if you're overextended and drowning in debt but there are certain things that a bankruptcy cannot do. The problem is that there [...]
A Chapter 13 bankruptcy may seem like a bad idea, after all it's a repayment plan and not a debt discharge program like a Chapter 7 bankruptcy . But there are many reasons to choose a Chapter 13 bankruptcy over a Chapter 7, the main reason being that you want to protect some of your [...]
Determining Your Disposable Income When you file for bankruptcy you'll need to determine your disposable income. There are a couple different ways to do this, one is more involved and detailed, but you may want to use more than one method to see which result is more useful for you when filing bankruptcy. Your disposable [...]
If you recently moved from one state to another, there are certain rules that will impact where and how you file bankruptcy. Let's take a look at a few of those rules and other considerations a debtor must make before filing bankruptcy after a move: Where You Moved Certain bankruptcy rules could impact your case [...]