bankruptcy

Bankruptcy - the very sound of the word strikes fear into the minds of those who face its possibility. But Chapter 7 liquidation, Chapter 13 personal reorganization, and Chapter 11 business reorganization can be powerful and effective financial tools for individuals and businesses who do not have sufficient cash flow to pay incoming bills.

Although bankruptcy cases are filed in federal bankruptcy court under a national set of rules, state law determines what property you can keep and protect from creditors.  Business and consumer bankruptcy lawyers often provide extensive and free bankruptcy information to the public through blogs and websites.  As always, however, no source of web-based information can substitute for personal legal advice.

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Original Technorati articles tagged “bankruptcy”

• in Business
  Bankruptcy Alert: Hostess Makers of Twinkies and Wonder Bread
  The Chapter 11 company owes its union pension fund nearly $1 billion.
  by stephengfm / on Jan 11, 2012
• in Business
  American Airlines Parent AMR Corporation Files for Bankruptcy
  The main goal of the bankruptcy is to cut employee payroll.
  by stephengfm / on Nov 29, 2011
• in Finance
  Alabama County To File Largest Ever Muni Bankruptcy
  This pending bankruptcy has cast a shadow over the county and Alabama's largest city, Birmingham.
  by stephengfm / on Nov 9, 2011

Latest blogosphere posts tagged “bankruptcy”

 

• Official: In bankruptcy, Coda asking for permission to conduct airbag recall

  
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  Filed under: EV/Plug-in , Coda Automotive Following its official bankruptcy filing , Coda Automotive is back with more not-so-good news. In Delaware bankruptcy court, the automaker has filed a motion to "conduct a voluntary recall of Coda Sedans to replace roof-mounted side curtain airbags." Last August, ...
  2 days ago

• Sinbad Files for Bankruptcy … Again

  
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  DatzHott.com - "Where Everything Cool is Hott!" Dang, Sinbad says he’s broke again. Sinbad filed for bankruptcy for the second time since 2009. Poor guy. Last month he filed chapter 13 bankruptcy. The comedian whose real name is David Adkins, says he owes $10,991,715 in debt and only has $131,000 in ...
  2 days ago

• Using Chapter 13 Bankruptcy to Regain Control of Tax Debt

  
  Reed's Bankruptcy Blog — Authority: 138
  If you’re seeking a solution to help manage tax debt then Chapter 13 bankruptcy may be something to consider.  It often depends on the type of debt in question, along with other financial obligations of the debtor.  You may even gain an advantage using Chapter 13 to handle the debt that you may not gain [...]
  2 days ago

• How to Declare Bankruptcy and Receive a Fresh Start – Bankruptcy Attorney

  
  Free Ezine Article Directory — Authority: 143
  Filing bankruptcy can be a difficult decision but in some cases it happens to be the best choice. It is an excellent choice if you want a fresh start but indeed it has plenty of drawbacks. It is no tiny ordeal, and knowing which bankruptcy attorney you can trust is Read More »
  2 days ago

• Dish Network Goes After Another Helping of Wireless Spectrum

  
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  Earlier this month, wireless network provider LightSquared Inc. received permission from the Federal Communications Commission (FCC) to use a band of wireless spectrum for a period of three months to...
  2 days ago

• Sinbad Claims He’s Bankrupt, Owes Millions To IRS

  
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  Sinbad is bankrupt yet again. The comedian and actor claims that he owes upwards of $10 million dollars to a handful of creditors. Included among the people looking for a payout are the folks at the Internal Revenue Service. Sinbad apparently owes around $8.3 million to the United States government. Sinbad, who was ...
  2 days ago

• Sinbad: Bankrupt And $8 Million In Debt

  
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  Sinbad, the popular ’90s comedian and sitcom star, is reportedly into the IRS for some major money, and filed for bankruptcy in April The 53-year old actor allegedly owes more than $8 million to the IRS and several hundred thousand to various creditors, but can only claim about $131,000 in assets. He was forced ...
  2 days ago

• Sinbad is broke

  
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  Just the other day I was wondering what ever happened to Sinbad (like seriously, publicly-on-record wondering about Sinbad), and today TMZ has answered my prayers. Though I have to admit, considering he came out with a comedy special called “ Where You Been ” three years ago, “what ever happened to Sinbad” ...
  2 days ago

• Sinbad files for bankruptcy…again

  
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      Sinbad filed for bankruptcy for the second time since 2009. Last month the comedian filed chapter 13 bankruptcy . SMH. According to BlackAmericaWeb: The comedian whose real name is David Adkins, says he owes $10,991,715 in debt and only has $131,000 in assets. Specifically, according to TMZ, he ...
  2 days ago

• What is Chapter 13 bankruptcy?

  
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  Chapter 13 bankruptcy is one form of bankruptcy under the United States Bankruptcy Code whereby someone reorganizes their debt and pays back either all or a portion of the debt over a 3 to 5 year period.  Chapter 13 is most commonly used to save a home that’s in foreclosure.  In a Chapter 13, a + Read More The ...
  2 days ago

• Cram Down Dance During Chapter 13 Bankruptcy

  
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  “Cram down” is lawyer-speak for a bankruptcy court reducing a secured interest to the value of the property. For instance, if a bass boat is worth $2,000 and there is a $4,000 balance owed to the bank, the bankruptcy court can cram down the secured interest to $2,000. The remaining $2,000 is now unsecured and paid ...
  2 days ago

• How the Eligibility for Chapter 7 Bankruptcy is Determined?

  
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  Since bankruptcy gives a fresh new start for individuals and businesses, the government wants to ensure that people don’t abuse this financial lifeline. So according to the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, the court uses the tool called means test, to determine the eligibility for ...
  2 days ago

• My Debt to Income is Very High and Nobody Will Give Me a Loan – Lisa

  
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  “Dear Steve, I am living on social security and savings, which are quickly becoming very scant. As my roof leaked over my head as I was sleeping, realized I needed to do something about this and thus began my quagmire (good word!) of a problem. Paid $8000. from five 0% promotional credit cards, carefully figuring ...
  2 days ago

• Taxpayers Foot the Bill for Bank Foreclosure Costs in $1 Billion Homeowner Help Plan

  
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  “Even though it’s a good intentioned program, it is a funnel to the banks. The end result seems to be the banks get the money and the homeowner doesn’t get the house.” ~ Taxpayers foot the bill for bank foreclosure costs in $1 billion homeowner help plan Banks are getting tens of millions of taxpayer … ...
  2 days ago

• The Most-Corrupt Administration Ever?

  
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  The Market Ticker – The Most-Corrupt Administration Ever? Let’s see how I do with the list. Fast And Furious (guns for drug lords, resulting in murder of Americans and Mexicans) Robosigning (over 100,000 perjured affidavits filed in court cases) IRS Tea Party and other group and individual abuse in direct ...
  2 days ago

• WAPO: The Slow-Going Process of Compensating Victims of Fraudclosure

  
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  Behind the mortgage settlements from the housing crisis Banks have paid less than half the $5.7 billion in cash owed to troubled homeowners under nearly 30 settlements brokered by the government since 2008, delaying help to the millions of victims of discrimination and shoddy lending that epitomized the housing ...
  2 days ago

• Trial This Morning at 9am. Going for the Jugular Right from the Start!

  
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  Trial This Morning at 9am. Going for the Jugular Right from the Start! Cross-posted from the Law Offices of Evan M. Rosen For all those who like reading about courtroom drama and complete incompetency by the Plaintiff’s bar, ENJOY! ~ If you are in South Florida and are looking for help ...
  2 days ago

• Now UCC Me, Now You Don’t: The Massachusetts Supreme Judicial Court Ignores the UCC in Requiring Unity of Note and Mortgage for Foreclosure in Eaton v. Fannie Mae

  
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  Now UCC Me, Now You Don’t: The Massachusetts Supreme Judicial Court Ignores the UCC in Requiring Unity of Note and Mortgage for Foreclosure in Eaton v. Fannie Mae Abstract: On June 22, 2012, in Eaton v. Federal National Mortgage Association, the Supreme Judicial Court of Massachusetts upheld a trial court ruling and ...
  2 days ago

• Broadway Auto Credit Gives Bad Credit in Green Bay an Expiration Date

  
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  GREEN BAY, Wis., May 20, 2013 /PRNewswire-iReach/ -- When suffering from bad credit it can be difficult to see the light at the end of the tunnel. Poor credit can leave hopeful car owners feeling consumed and overwhelmed, but even bad credit expires over time when the proper steps are...
  2 days ago

• It’s Alive! Dexia’s $775 mln MBS case vs JPMorgan Back From the Dead

  
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  It’s alive! Dexia’s $775 mln MBS case vs JPMorgan back from the dead Here is how U.S. Senior District Judge Jed Rakoff led off his blockbuster ruling Friday in Dexia’s mortgage-backed securities case against Bear Stearns successor JPMorgan Chase: “Those who don’t believe in ghosts have never been in court, ...
  2 days ago

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