Albuquerque Law

JUNE 30, 2021

Business owners have several options to handle their debt, including Chapter 11 bankruptcy. However, many business owners avoid bankruptcy because of the common myths surrounding this debt relief option. Business owners must be aware of these myths – and the truth about Chapter 11 bankruptcy.

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Albuquerque Law

SEPTEMBER 2, 2021

Many business owners believe that only big businesses can file Chapter 11 bankruptcy. This belief likely stems from the fact that when big businesses file bankruptcy, it usually becomes national news. So, who can file Chapter 11? Generally, any type of business can file Chapter 11 bankruptcy.

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Albuquerque Law

APRIL 27, 2021

There are many different chapters of bankruptcy. The chapter that a debtor selects depends primarily on their individual needs and financial circumstances. One option that is available to both individuals and businesses is a Chapter 11 reorganization. Who can file Chapter 11? Keyword: Reorganization.

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PBWT

MARCH 3, 2022

uniform Laws on the subject of Bankruptcies throughout the United States.” ” While Congress has general authority to establish a bankruptcy system, bankruptcy laws must be “uniform.” ” But not every aspect of the bankruptcy system is the same across every judicial district. Trustee district.

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Albuquerque Law

OCTOBER 2, 2020

When business owners decide to file Chapter 11 bankruptcy, they suddenly have a lot on their plate. It is often beneficial to speak with a lawyer to understand all of the steps required of you when filing Chapter 11 bankruptcy, but here are five critical steps you must remember: 1. General income.

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In the Red

FEBRUARY 4, 2022

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased a larger than usual 10.973% this time for new cases filed on or after April 1, 2022. Official bankruptcy forms will likely be updated as April 1st draws near. . . .

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PBWT

APRIL 6, 2021

It is well-settled that if you are a debtor in chapter 11, you do not have the unfettered right to convert the case to a chapter 7 liquidation. In 2017, the debtor filed chapter 11, following years of ultimately unsuccessful litigation stemming, in part, from the co-trustees’ meritorious countersuit.

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Account Recovery

JUNE 5, 2023

Facing the possibility of a $3 billion claim from the Consumer Financial Protection Bureau, the parent company of Lexington Law and CreditRepair.com filed for Chapter 11 bankruptcy protection yesterday. A copy of the filing, filed in the Bankruptcy Court for the District of Delaware, can be accessed by clicking here.

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Fraser

JUNE 25, 2020

It should come as no surprise, therefore, that the economic downturn has led to a surge in corporate bankruptcy filings. According to data from Epiq Global, 722 companies sought bankruptcy protection around the U.S. For creditors to maximize their recoveries, they must stay informed and take action during a bankruptcy proceeding.

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Sawin & Shea

JANUARY 19, 2022

Filing your taxes and filing for bankruptcy are two things that can be confusing and challenging on their own. Filing your taxes after filing for bankruptcy is not as complicated as it may seem, and if you are still confused after doing some research, you can always reach out to a bankruptcy lawyer. Tax Debt and Bankruptcy.

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Account Recovery

SEPTEMBER 11, 2020

IQOR FILES FOR BANKRUPTCY PROTECTION Collection operation and contact center business-process outsourcing provider iQor filed for Chapter 11 bankruptcy protection yesterday, seeking approval of a pre-packaged plan that would provide the company with $130 million of funding to reorganize itself and continue operating.

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Albuquerque Law

OCTOBER 2, 2020

When business owners decide to file Chapter 11 bankruptcy, they suddenly have a lot on their plate. It is often beneficial to speak with a lawyer to understand all of the steps required of you when filing Chapter 11 bankruptcy, but here are five critical steps you must remember: 1. General income.

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Jimerson Firm

DECEMBER 29, 2023

When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. 11 U.S.C. §

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Sawin & Shea

MARCH 6, 2024

Two of the most common options for dealing with unmanageable debt are filing for bankruptcy and pursuing debt consolidation. Bankruptcy and debt consolidation are distinct solutions, each with advantages and potential drawbacks. A bankruptcy attorney can help you determine the best kind of bankruptcy filing for your circumstances.

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Fraser

JULY 21, 2020

As the bankruptcy wave continues to build, more businesses are being forced to deal with bankrupt customers. What’s worse—and which often comes as a big surprise—is when a business gets sued by the debtor or bankruptcy trustee seeking to recover payments made by the debtor before the bankruptcy. What is a Preference Lawsuit?

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Sawin & Shea

NOVEMBER 15, 2022

Bankruptcy is sometimes the best solution for those struggling with overwhelming debt. They fear that other people will find out about their bankruptcy and view them as financially irresponsible. There’s nothing wrong with filing for bankruptcy, but worrying about what other people will think is understandable. Trustee Program.

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Collection Industry News

MARCH 27, 2024

NEW YORK/ALEXANDRIA, VA – April 2, 2024 – New bankruptcy filings during the first calendar quarter of 2024 (Jan. major filing categories, according to data provided by Epiq Bankruptcy, the leading provider of U.S. bankruptcy filing data. 1 through March 31) registered year-over-year increases across all U.S.

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PBWT

NOVEMBER 20, 2022

Earlier this year, we wrote about the challenges facing the crypto industry that resulted in the bankruptcy filings of Three Arrows Capital, Celsius Network, and Voyager Digital. We noted that other crypto entities could also end up in chapter 11, and that prediction has proven correct.

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ABI

JANUARY 12, 2022

1] Facing litigation by, among others, the Attorney General for the State of New York, the National Rifle Association and an affiliate filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code in Texas. [2] 8]. Here, the court dismissed the NRA’s Chapter 11 filing. [9]

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Roths Child Law

AUGUST 14, 2023

One common solution to debt is bankruptcy. Here’s what you should know: Should you file for Chapter 7 or Chapter 11 bankruptcy? You might be able to apply for Chapter 7 or Chapter 13 bankruptcy. For many people, Chapter 7 bankruptcy is frequently regarded as their best choice.

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . In general, a successful case under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) culminates in confirmation of a plan of reorganization, pursuant to which the debtor’s liabilities will be addressed. Victoria Giorgio.

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ABI

JANUARY 13, 2021

American Bankruptcy Institute Law Review Staff Member. . Congress passed the Small Business Reorganization Act of 2019 (“SBRA”) to give small businesses a better chance to successfully reorganize under Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”). [1] John’s University School of Law.

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Nerd Wallet

NOVEMBER 28, 2022

The cryptocurrency trading and lending platform BlockFi filed for Chapter 11 bankruptcy on Monday, deepening the uncertainty for customers who already had been unable to access their deposits for several weeks. The article BlockFi Bankruptcy Deals New Blow to Crypto. Andy Rosen writes for NerdWallet. Twitter: @[link].

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Sawin & Shea

FEBRUARY 16, 2022

An emergency bankruptcy is a bankruptcy filing method that expedites the filing process to stop creditors and bill collectors from seeking debts from borrowers. Individuals can file an emergency bankruptcy, also known as a skeleton bankruptcy, under Chapter 7 and Chapter 13. Filing for Emergency Bankruptcy.

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In the Red

FEBRUARY 15, 2019

An official notice from the Judicial Conference of the United States was just published announcing that certain dollar amounts in the Bankruptcy Code will be increased about 6.2% Official bankruptcy forms will likely be updated as April 1st draws near. this time for new cases filed on or after April 1, 2019.

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Sawin & Shea

AUGUST 18, 2021

One issue that you may worry about when filing for bankruptcy is whether or not it will affect your employment. In the midst of a stressful financial time when you are having to accept the idea that your finances are changing, it is normal to believe that there is a stigma attached to bankruptcy. Bankruptcy Code (11 U.S.

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Sawin & Shea

FEBRUARY 14, 2024

If you or a loved one has recently filed for bankruptcy or are considering bankruptcy, you may wonder who may find out about your financial situation. That said, we’re here to answer common questions regarding the accessibility of bankruptcy information and whether these documents are part of public records.

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Debt Free Colorado

JANUARY 10, 2022

When someone finds themselves in financial distress, they may consider filing for bankruptcy. But just like choosing a doctor or an in-law, not all forms of bankruptcy are the same and selecting the wrong one can wind up doing more harm than good. . Which type of bankruptcy should you take? Bankruptcy Defined.

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Direct Recovery

APRIL 17, 2023

California has one of the highest bankruptcy rates in the country, but the majority of consumers here still need to learn more about the process involved to make informed decisions on whether it might be a good option for them. How long will bankruptcy impact your credit? Chapter 11 – This is usually for corporations.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff The families of the victims of the Sandy Hook shooting sued Alex Jones in a Connecticut state court, and his company, Free Speech Systems, in a Texas state court. [1] 2] A Subchapter V case differs from a traditional Chapter 11 case in several ways.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In Purdue Pharma, L.P. 3] In 2007, Purdue began facing a number of claims from states and individuals, and at the same time, distributed approximately $11 billion to Sackler Family Trusts. [4] Katharine Manganello St. 8] The U.S.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Pazzo Pazzo Inc. , 1] Facing financial distress, Berley, filed a petition for relief under Chapter 11 of the Bankruptcy Code. [2] 2] Pursuant to Berley’s confirmed Chapter 11 reorganization plan, Speedwell Ventures, L.L.C.

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Sawin & Shea

APRIL 6, 2021

Bankruptcy is a smart, legal, and effective way to wipe out a mountain of old debts. There are many reasons why people resist bankruptcy, but some are based on fiction rather than facts. Maybe you’re avoiding bankruptcy merely because of a mistaken impression about it, so let’s clear things up. Assuming It Is Rarely Needed.

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Albuquerque Law

JANUARY 19, 2023

Here are some of the basic elements of this form of bankruptcy that you should know. The goal of subchapter 5 is to make it easier for small businesses to seek reorganization bankruptcies. According to the United States Courts , it does this by cutting costs and facilitating the bankruptcy process. How does it work?

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Collection Industry News

JANUARY 27, 2024

Total bankruptcy filings rose 16.8 percent, with significant increases in both business and non-business bankruptcies, in the twelve-month period ending Dec. Courts, annual bankruptcy filings totaled 452,990 in the year ending December 2023, compared with 387,721 cases in the previous year. The post Bankruptcy Filings Rise 16.8

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Direct Recovery

AUGUST 27, 2021

Filing for bankruptcy sounds incredibly intimidating, and it often has exactly the type of negative impact on credit reports that many fear. Understanding Bankruptcy Rates in California. California had more bankruptcy filings than any other state in 2021 through May. Chapter 7 Bankruptcy Rates in California.

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Sawin & Shea

APRIL 17, 2024

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

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