Blog Posts in January, 2011
Posted on Jan 28, 2011 By Majed
Yes. Under the bankruptcy code, any individual living in or business housed in the United States may file for bankruptcy. This includes a not-for-profit organization. Non-profits have the same filing ...
Continue reading "Can a Non-Profit Organization file for Bankruptcy?" »
Posted on Jan 26, 2011 By Majed
According to a recent Gallup poll, over 25% of unemployed adults are in financial distress. This is slightly more than the 21% of underemployed adults in financial distress and grossly more than the ...
Continue reading "Bankruptcy and Unemployment" »
Posted on Jan 24, 2011 By Majed
Simply put, a trustee serves as a liaison between the Chapter 13 debtor and his/her creditors. They are not looking out for your interest; this is your bankruptcy attorney. Rather, the trustee has the ...
Continue reading "What is the Role of a Chapter 13 Trustee?" »
Posted on Jan 21, 2011 By Majed
Over the past few years bankruptcy has gotten a bad rap. Many people fear bankruptcy based on news reports or what they think to be true. However, what many corporations and wealthy individuals know ...
Continue reading "Why are People Afraid of Bankruptcy?" »
Posted on Jan 19, 2011 By Majed
How many times one can file for bankruptcy largely depends on what type of protection the debtor is looking to file and what type of protection they filed in the past. If you previously filed a ...
Continue reading "How Many Times Can I File for Bankruptcy?" »
Posted on Jan 17, 2011 By Majed
Many individuals facing financial difficulty wonder where they can get money to pay for an attorney when their head is barely above water. This is a very real and astute observation and it is a valid ...
Continue reading "How Can I Afford a Bankruptcy Attorney?" »
Posted on Jan 14, 2011 By Majed
Among the many changes of the 2005 bankruptcy reform was that addition of mandatory, random bankruptcy audits. Most individuals who file for bankruptcy will not be audited. However the Code revisions ...
Continue reading "What You Should know about Bankruptcy Audits" »
Posted on Jan 12, 2011 By Majed
Americans saw an increase in consumer bankruptcy filings for the fourth consecutive year, according to a report by Fox News. Increasing unemployment rates and the rising cost of consumer goods no ...
Continue reading "Consumer Bankruptcies Increased 8% in 2010" »
Posted on Jan 10, 2011 By Majed
Not necessarily. Chapter 7 eligibility is determined by two things. If you earn less than the state's median income you are automatically eligible to file for Chapter 7. If you earn more, your ...
Continue reading "Do I Need to Quit my Job to Qualify for Chapter 7?" »
Posted on Jan 7, 2011 By Majed
Much of consumer bankruptcy practice is focused on Chapter 7 and Chapter 13, as they are the most common forms of bankruptcy utilized by individual debtors. However, there is a significant group of ...
Continue reading "Chapter 11 for Small Business Owners" »
Posted on Jan 5, 2011 By Majed
They can and should be. If you have borrowed money from dear old grandpa, mom or Cousin Joe, these individuals are now considered creditors once you file for bankruptcy. Additionally, friends, ...
Continue reading "Can Personal Debtors that are not Companies be Discharged?" »
Posted on Jan 3, 2011 By Majed
Chapter 13 is a form of bankruptcy protection that allows debtors to work out payment agreements with creditors under court-supervision. The new agreements are legally binding and replace the previous ...
Continue reading "A Chapter 13 Repayment Plan could Halt Your Car Repossession" »