Archive for the ‘Bankruptcy’ Category.

Latest Bankruptcy News

Bankruptcy judge changes his mind on Bloomberg order
In a hearing today, U.S. Bankruptcy Judge Christopher S. Sontchi said he should have granted Bloomberg’s request to be heard on an expedited basis in objecting to his investigation of Bloomberg reporters’ sources. Bloomberg objected to the scope of the …
Read more on Reporters Committee for Freedom of the Press

Post-Bankruptcy, Colt Wants a Bigger Piece of Gun Sales
Colt filed for Chapter 11 protection in June, its second bankruptcy in 23 years, after suffering from the loss of military contracts and largely missing out on rapid growth in the commercial market. The company officially exited bankruptcy on Jan. 13 …
Read more on Fox Business

Report: Hancock Fabrics preparing for second bankruptcy filing
According to the story, the Baldwyn-based fabrics and craft retailer could file for bankruptcy this month, according to sources who asked not to be identified because the process isn’t yet public. As of 5:30 p.m today (Wednesday, Jan. 20), nothing has …
Read more on Northeast Mississippi Daily Journal

Latest Bankruptcy News

Buncombe #35 on list of bankruptcy rates by N.C. county
A recent analysis by Lexington Law ranks Buncombe County #35 on a list of N.C. counties by personal bankruptcy rates. With 14.16 bankruptcies per 10,000 residents from March 31, 2014 to March 31, 2015, Buncombe ranks worse than McDowell (#44) …
Read more on Mountain Xpress

Is bias behind black church bankruptcies?
A fifth of the nation’s religious congregations are predominantly black, yet they account for the majority of bankruptcies among U.S. churches, according to new research. Of the 654 churches to file for Chapter 11 bankruptcy protection between 2006 and …
Read more on CBS News

Correction to 3rd Update of KaloBios Bankruptcy Story
Correction to 3rd Update of KaloBios Bankruptcy Story. December 30, 2015, 08:49:00 PM EDT By Dow Jones Business News. loading. Shutterstock photo. (END) Dow Jones Newswires 12-30-152049ET Copyright (c) 2015 Dow Jones & Company, Inc.
Read more on Nasdaq

Surviving Bankruptcy

In our materialistic world, we have, unfortunately, come to hang our self worth on our financial worth. A fragile measuring stick in our unstable economy. Last year, 1.5 million bankruptcies were filed in the United States. And that number is on the rise despite reforms to the US Bankruptcy code meant to reduce the number of both bankruptcies and abuse of the system. Wading through the paperwork involved with a bankruptcy filing is difficult enough without lugging along emotional baggage that will persist beyond the discharge of debt.

Detroit bankruptcy lawyers are familiar with the emotional stress their clients suffer while enduring the admittedly complex bankruptcy scenario and can offer sage advice on surviving the process. Surrendering to the process is a good place to start. Sweet surrender is celebrated by songwriters and imposed by poets, but there is truth in the ideal. Bankruptcy can provide a new beginning. Find some new goals and challenges to help you move on with life. Here are some places to start:

Learn from your experience. Make new plans for financial security in the future. Learn to separate your self worth from your financial worth. Remember the old adage, “It’s only money.” Because, it really is. Revel in learning to live on less. Make thriftiness a game, of sorts. Challenge yourself to find new ways to be “cheap.” Allow yourself to experience the feelings of loss, anger, sorrow and frustration, and then put them behind you. Live in reality. Appreciate the new sense of control as the bankruptcy process moves forward and your new freedom is revealed. Learn some new financial skills to protect your financial well-being in the future. Detroit bankruptcy lawyers can help you find and learn these skills. Don’t beat yourself up. Let go of the resentment and shame – either that directed at yourself or others. Remember what Grandma said about holding a grudge. It only hurts you. Even if that grudge is directed at yourself.

The feeling of spiraling out of control as a stranger, or strangers, sifts through your financial life is understandable and expected. Try to overcome the impulse to panic and fret. Just sit back and let the situation roll along as it will anyway. Turn over the proverbial new leaf. And remember that Detroit bankruptcy lawyers have years of experience and can offer you advice in a compassionate atmosphere.

For experienced, knowledgeable and trustworthy bankruptcy assistance, contact the attorneys from Call toll-free 800-260-1402 today for your initial free consultation or come into one of their 100 offices across the country.

Surrender Not an Option for Homeowners in Bankruptcy

Surrender Not an Option for Homeowners in Bankruptcy
Courts are split on whether or not a debtor can unilaterally choose to surrender their home in satisfaction of the debt during the pendency of the bankruptcy plan when they initially agreed to keep the home and make payments. Some courts argue this isn …
Read more on Bloomberg BNA

DM Records seeks bankruptcy protection after losing judgment over ‘Whoomp
The hip hop record label, co-owned by Lighthouse Point residents Mark Watson and David Watson, filed for reorganization in Bankruptcy Court on Nov. 19. It listed $ 4.2 million in assets and $ 2.3 million in debt. It had about $ 18,000 in its bank account.
Read more on South Florida Business Journal

After bankruptcy, Detroit’s second shot

After bankruptcy, Detroit’s second shot
But a year after a federal judge approved a cost-cutting and reinvestment plan in the nation’s largest-ever municipal bankruptcy case, Detroit’s financial future still hangs in the balance. Among the greatest concerns: a multi-billion dollar pension …
Read more on Lansing State Journal

Washington-area bankruptcy filings for Nov. 9, 2015
Under Chapter 11 of the federal bankruptcy code, a company is protected from claims by creditors while it attempts to reorganize its finances under a plan approved by the court. In a Chapter 7 liquidation, a court trustee sells assets to pay creditors …
Read more on Washington Post

The End of Chapter 11 Bankruptcy Protection
Then there are the safe harbors that remove derivatives, repurchase agreements and securities trades from the crucial protections of the bankruptcy code. It was only a matter of time before smart lawyers figured out that lots of ordinary supply …
Read more on New York Times

Chicago Bankruptcy Help

Chicagoland Bankruptcy lawyers, a valid choice

The other day I was having a conversation with a friend who runs his own business when the topic of bankruptcy came up. It was a valid concern of his. Its not surprising seeing as how the economy is floundering these days. He was concerned about the consequences bankruptcy would have on his life. But one thing we both agreed on was the importance of getting a good bankruptcy lawyer. I mean why not? One of the biggest mistakes one can make is not hiring a lawyer to handle complex legal issues. Being aware of your rights can protect you from total financial ruin and possible loss of all assets.

Everyone knows that bankruptcy is not something to people look forward to. I know the word bankrupt seems bad and induced fear, but thats only because you may not be looking at it the right way. Bankruptcy is actually the legal relief that one pursue when exposed to total loss. It is the way a legally negotiating your debt. Its made for their wellbeing and protection from bill collectors and bill collector harassment. Unfortunately many people people avoid bankruptcy when it could be their best option for future financial safety. Chandraiah Law Firm understands the concerns you may have and respects your dignity in this difficult process.
As a Chicago Bankruptcy Attorney they can help you to understand the law and make the process as painless as possible.

Dont drive to downtown Chicago and pay $ 30 for parking at a firm where you wont see an actual attorney. Dont sit in a waiting room with dozens of other people just to sit down with an paralegal. Come to Chicago Bankruptcy Help. At Chicago Bankruptcy Help you will be able to speak directly with the founder, Sam Chandraiah. He will personal speak with you to understand your situation and provide an honest, helpful recommendation.

So you see that you dont have to go through the bankruptcy alone. Chicago Bankruptcy Help can assist you in the Chicagoland area with bankruptcy. The Chicagoland bankruptcy lawyers specialize in bankruptcy and are affordable as well. In fact I would highly recommend visiting their website to see that a Chicagoland bankruptcy lawyers is just what you need. Ignore wont change the situation. In fact in will only take away your choices. Take a few moments with Chandraiah Law Firm and understand your rights and options. You will be glad that you did.

Chicago Bankruptcy Help. The Chandraiah Law Firm.

More Bankruptcy Articles

Bankruptcy Lawyer Washington

By submitting a list or schedule of your exempt property in yourBankruptcy Lawyer washington
proceedings you can protect certain elements of your personal property. That way you can keep it from the hands of creditors seeking to redeem it for value. The fear of bankruptcy, a fear that most financially responsible people experience, shouldn’t be a crippling factor in financial decisions anymore. We can all survive filing bankruptcy and with a little luck and the right bankruptcy lawyers, nobody will have to give up everything.

When filing for Bankruptcy Lawyer washington in order to obtain financial relief in the form of a fresh start that will eliminate debt, one must provide a list of personal effects and property. This is generally passed on to creditors who can use such information to repossess or lien debtor properties. Since bankruptcy is supposed to help debtors out in the long run, states provide lists of what types of personal property and equity is exempt from collection or transfer of ownership. Ideally, these laws maintain a bankruptcy system that guarantees creditors won’t take things of little or no economic value and cause debtors undue hardships or suffering. Certain property equity, which is the difference between it’s market value and that of any claims held against it, may be qualified to remain out of the clutches of creditors.

Different states have varying standards. In Bankruptcy Lawyer Washington exemptions can protect up to $ 40,000, $ 2,700, and $ 5,000 of the equity of a homestead, household goods, or a vehicle. Life insurance and retirement plan bankruptcy exemptions can guard these types of monthly payments from creditors, or protect existing life insurance plans that apply to a debtor or their next-of-kin. Exemptions also apply to savings, bonds, pensions or anything in a qualified retirement plan.

In addition to these and a number of other broad categories, Bankruptcy Lawyer Washington that will protect up to $ 2,000 equity in various property not covered by other exemptions. The state of Indiana’s laws protect primary residence equity up to a value of $ 7,500 and $ 15,000 if a spouse shares the owner title for the property with the debtor. Similarly, $ 4,000 equity in other real estate besides primary residences can be guarded from creditors and up to $ 8,000 is safe if a spouse co-owns the real estate. Intangible property, such as money in bank accounts, as well as from tax refunds and other sources, can only be guarded in amounts up to $ 100, but as with many other states, retirement plan payments are 100% safe.

Different bankruptcy exemptions exist in different states. Seemingly similar exemptions may not have the same amount of value from one locale to another. This can be very confusing to a debtor. However, every qualified bankruptcy attorney makes it their business to know exactly what property they can save for you, depending on the rules of the state in which you reside.

Bankruptcy allows everyone to start again and begin fresh financially but it’s easier said than done. Changes in bankruptcy law have made it harder to file. Without going into the gory, political details, what this means is that if you’re under financial pressure and considering bankruptcy you should consult with a professional. Just like you go to the doctor when you break a leg you should consult with someone who knows the ins-and-outs of financial law.

Bankruptcy is a life event and one that will clean out your financial closet but you should not go it alone. In 2005, a new bankruptcy law was enacted. This law made it much more complicated for debtors to file bankruptcy. With careful planning, however, and a good lawyer, it can be done. A good attorney knows the ins and outs of this new law so you’ll get great results. When looking for a bankruptcy attorney and before you hire one, make sure that he or she has the capacity and expertise to win your case.

The news of the past months on the increase in bankruptcy, over 20% from the calendar year last year, merits mention for Texas residents. The bad news is bankruptcies are on the rise. While bankruptcies and foreclosures have affected the lives of all of us in some way, in Texas, perhaps surprisingly, bankruptcies and foreclosures are much less common than in states such as California and Florida.

Of course, California has the most bankruptcies because of its population, but the number of foreclosures is quite high. While in Texas the rates of foreclosure are 1 in 800, California and Florida are being hit by 1 in 200 and 1 in about 170 respectively. (In other words, 1 person in 200 who owns a home in California is foreclosed on, while only 1 person 800 who owns a Texas home loses it to foreclosure.) Because of the danger of foreclosure, and the dangers of waiting too long, lawyers are more in demand.

Unfortunately the demand for lawyers is creating a climate for mistakes to be made. Too often Texas residents and citizens nationwide make the mistake of going with a referred lawyer, the friend of a friend, the cheap lawyer, or the lawyer who promises you the world. What should in fact be looked at is experience.

Most people who are suffering with financial problems and who need to think about filing bankruptcy have similar questions and concerns. An easy to read and easy to understand book about bankruptcy called, What you Should Know Before Filing For Bankruptcy, provides resources for those suffering financial problems.

Visit for more information.

Related Bankruptcy Articles

Bankruptcy Lifelines

With a personal bankruptcy attorney NJ, you have got all of the help you must deal with the difficulty of this economy. You have to bring your funds into account particularly if you have a small business. If that business is floundering and appears like it is about to go under, it’s time and energy to go see a lawyer. Perform a rudimentary search on the internet to determine what legal professional is a match for your requirements. You must see their history to judge whether they’re honest or otherwise not. Intimidating good feedback is often the barometer one goes by in deciding who to employ. Bad feedback is a warning banner to stay away. Ensure you end up a bankruptcy lawyer which truly understands exactly what they’re speaking about because you are sinking the final of one’s money into this service.

Just because you’re perhaps not going bankrupt, it is advisable that you prepare yourself. Have a contingency plan. Talk to a bankruptcy attorney should you feel such as your funds come in the purple. In this way, you can prevent the worst instance scenario of processing for personal bankruptcy originally. Personal bankruptcy lawyers aren’t just here that will help you whenever you’re currently going bankrupt. They could be an asset in stopping you from reaching that deplorable financial state. These professionals can make sure that you don’t drop home and company you worked so difficult for. It could be extremely hard to deal with lender property foreclosure in your residential property and seeing a bankruptcy attorney can help to ensure that you never have to face this issue in the future.

For many who hire a personal bankruptcy.html”>bankruptcy attorney NJ, you can find undoubtedly no regrets available at all. This type of person consummate experts who will place your needs first. They’re caring simply because they see individuals like you every single day that have issues with money. Because of this, they recognize that revenue shouldn’t be their primary prerogative. Due to this reality, they may be very reasonable about their particular prices. You don’t have to worry about asking them for a discount in terms of having to pay because they understand you’re in dire straits in terms of cash. Actually, they understand that today, as part of your, it is essential for you to be making every cent matter. Constantly try to save money as much as possible even if you’re within lawyer’s office.

Also, you must be sure you have got all your articles in order before your consultation. This can make it possible to prevent any quibbling over semantics in terms of your documents. In the event that you forget some thing, it could cause a delay therefore wasting time and money. This can be not at all a situation you prefer so that you need to be aware with regards to your private legal affairs. Always have files of all you need since you never know when it may be brought up. Your savior may rest in a document that’s hidden in your archives so be thorough in looking for what you ought to present to your lawyer. This way, you could get the most from every assessment with your bankruptcy lawyer NJ.

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