Sawin & Shea

APRIL 10, 2024

Chapter 7 bankruptcy is a great financial solution for those struggling with debt, especially unsecured debts. With Chapter 7 bankruptcy, you as the debtor can discharge most unsecured obligations after liquidating nonexempt assets. For experienced bankruptcy lawyers in Indiana, contact Sawin & Shea, LLC.

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Sawin & Shea

MARCH 7, 2023

Are you wondering how to file bankruptcy Chapter 7? Or if filing for bankruptcy is right for you? If you’re struggling with debt and considering bankruptcy, speaking with a bankruptcy lawyer can help you determine your best options and give you some clarity on how the process works. What is Chapter 7 Bankruptcy?

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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. If the bankruptcy court has your Chapter 13 bankruptcy dismissed, you’ll need to refile or find another method for overcoming your debts, such as Chapter 7 bankruptcy. Bankruptcy dismissals have nothing to do with unloading debts.

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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. On November 11, FTX Trading LTD and approximately 130 of its affiliates filed voluntary chapter 11 bankruptcy petitions in Delaware.

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Debt Free Colorado

MARCH 3, 2023

Find Out the 10 Common Questions About Bankruptcy with Colorado Bankruptcy Lawyers. The decision to file for bankruptcy is a significant one, and we are here to assist you in determining whether bankruptcy is the best course of action for your circumstances. Do bankruptcies come in different types?

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Roths Child Law

APRIL 30, 2021

Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts. People often hesitate to file, however.

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Collections Law

JANUARY 13, 2023

It is extremely frustrating to discover that your debtor owes other people a lot of money. If your debtor hasn’t declared bankruptcy, there are several ways we can use to try to get you paid, even if you don’t have collateral or a court judgment yet. This helps to prevent your debtor from hiding the bacon.

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

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Sawin & Shea

NOVEMBER 24, 2021

However, though bankruptcy can seem scary, it is an option and one that can genuinely help you get back on your feet. There are benefits when you file for bankruptcy that protect you. An automatic stay is a fundamental part of bankruptcy that protects debtors from creditor actions. What Does an Automatic Stay Do?

Bankruptcy 52

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Debt Free Colorado

JANUARY 27, 2022

You’ve undoubtedly heard of bankruptcy. Some people swear they’ll never file bankruptcy, while others regularly use it as a tool. Our competent bankruptcy attorney at Dray Legal can explain this in more detail. Our competent bankruptcy attorney at Dray Legal can explain this in more detail.

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Sawin & Shea

DECEMBER 21, 2023

When an individual or business files for bankruptcy, an automatic stay immediately goes into effect. For debtors, the automatic stay provides critical breathing room to address financial issues under bankruptcy court protection. An automatic stay refers to the legal injunction put into place upon filing for bankruptcy.

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Burr Forman

JANUARY 26, 2022

Meek have been recognized in the January 2022 issue of Lawdragon’ s “500 Leading Bankruptcy & Restructuring Lawyers” List. Lawdragon says, “The start of the pandemic brought expectations for mountains of commercial bankruptcy work. Golden was named in the Bankruptcy & Commercial Litigation specialty.

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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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PBWT

JANUARY 19, 2021

In 2019, we began following a Circuit split regarding a secured creditor’s obligation to return collateral that it lawfully repossessed pre-petition after receiving notice of a debtor’s bankruptcy filing. ” [ii] In December, the Supreme Court granted certiorari and on Thursday adopted the minority view. [i]

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff An unpaid secured lender with a prepetition mortgage does not have a right to receive payment of proceeds from a postpetition sale of real property. the “Debtor”) $1.5 2] In 2022, the Debtor commenced a chapter 11 bankruptcy case. [3]

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Sawin & Shea

SEPTEMBER 14, 2022

When filing Chapter 7 or Chapter 13 bankruptcy, it’s critical to understand the difference between consumer debt and non-consumer debt. Your consumer and non-consumer debts impact your ability to file Chapter 7 bankruptcy, and your debt types also determine what’s protected by an automatic stay when filing Chapter 13 bankruptcy.

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ABI

JANUARY 22, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff Under chapter 12 of title 11 of the United States Code (the “Bankruptcy Code”), a family farmer or fisherman can restructure its debts. In a Chapter 12 bankruptcy, the debtor generally proposes a plan for repaying creditors from future earnings. [1]

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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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Jimerson Firm

MAY 5, 2021

Certain entities facing ongoing financial hardship will chose to seek Chapter 11 or other bankruptcy protection, and while PPP loan and Coronavirus-related EIDL generally are forgivable, exactly how such loan default will be treated through reorganization is the subject of much current litigation and has yet to be fully determined.

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Sawin & Shea

JUNE 7, 2023

If you have a co-signer associated with your debt or if you are a co-signer, you need to be aware of how financial liability works and what happens when the primary debtor declares bankruptcy. Fortunately, in this blog, we’ll unpack cosigner responsibilities when it comes to bankruptcy and debt. What’s a Guarantor?

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PBWT

OCTOBER 27, 2021

But the powers of creditors’ committees are circumscribed by both the Bankruptcy Code and case law. The debtor operated 28 franchise restaurants primarily in the Sun Belt region. The debtor encountered financial problems related to the onset of the COVID-19 pandemic, resulting in a chapter 11 filing in April 2021.

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PBWT

AUGUST 16, 2022

The Bankruptcy Court for the District of Hawaii ruled that the extension was constructively fraudulent, and thus avoidable under Bankruptcy Code section 548. But the Owners’ grand plans never came to fruition, and they eventually filed for chapter 11 bankruptcy. See In re Pac. Holdings, Inc. , 8, 2022).

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Burr Forman

AUGUST 10, 2020

Bankruptcy and Restructuring Lawyers. Derek is the chair of the firm’s Creditors’ Rights and Bankruptcy practice group and a Fellow in the American College of Bankruptcy. Mike is also a partner in the firm’s Creditors’ Rights and Bankruptcy Practice Group.

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Roths Child Law

APRIL 30, 2021

Many consumers who find themselves unable to pay their bills look to different debt relief options to gain a fresh financial start, including bankruptcy. Chapter 7 bankruptcy can provide you with that clean financial slate that you're looking for where you can wipe away most of your debts. People often hesitate to file, however.

Chapter 7 bankruptcy 40

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Sawin & Shea

JANUARY 25, 2022

Dealing with debt can be scary and overwhelming, especially if you don’t know what will happen if you miss too many payments and default or have to file bankruptcy. While bankruptcy itself can also be scary, it is often the best option if you have too much debt to get a handle on your financial situation. What is Secured Debt?

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BN Lawyers

MAY 28, 2019

With the recent uptick in energy-related bankruptcies expected to continue for the foreseeable future (in one prominent example, industry giant Weatherford has just filed for Chapter 11 protection), oil and gas royalty owners need to be on alert. In re First River Energy, LLC , 2019 WL 1103294 (United States Bankruptcy Court, W.D.

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Taurus Collect

MAY 24, 2022

Therefore, it is vital to have a robust debt collection strategy to enable you to stabilise your cash flow and acquire money from your debtors without hampering your business relationships. Several times collectors end up calling debtors who have already paid off their debts long back due to the inefficiency in the recording.

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BN Lawyers

APRIL 5, 2019

The initial stage of a Chapter 11 filing is the most crucial and debtors must be ready for the tactics of aggressive creditors and stakeholders jockeying for priority in the restructuring proceedings. These motions also serve the dual purpose of dealing with the urgent concerns of major players in the debtor’s operations.

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Consumer Financial Services Law

JANUARY 31, 2020

The Facts As the Third Circuit explained, “the center of this bankruptcy appeal is “‘America’s first sports car’: The Chevrolet Corvette.” After repossession, Denby-Peterson filed an emergency Chapter 13 Bankruptcy petition in the Bankruptcy Court for the District of New Jersey. 542(a), but denied the request for sanctions.

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Debt Free Colorado

MARCH 10, 2021

Additionally, bankruptcy courts have imposed practice bans against UpRight in at least four jurisdictions. In the current matter, the USTP alleged that UpRight engaged in misconduct and misrepresentations impacting hundreds of Montana consumers, which came to light due to investigations by the USTP in two bankruptcy cases.

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Jimerson Firm

DECEMBER 30, 2020

Before liquidating any collateral or incurring costs of litigation, Lenders and CDCs should make a good faith effort to first negotiate a “workout agreement” with the borrower. 60 calendar days), the lender/CDC must move forward with liquidating the collateral. SOP 50 57 ; SOP 50 55. SOP 50 57 2; SOP 50 55.

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ABI

MARCH 9, 2020

Bankruptcy Court May Refrain from Enforcing a Valid Arbitration Clause. . American Bankruptcy Institute Law Review Staff. . Generally, a court will enforce an arbitration clause in a contract, but may refrain from doing so under certain circumstances. [1] By: Laila Rizk. John’s University School of Law.

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Sawin & Shea

APRIL 24, 2024

Before someone makes a bankruptcy filing, it is not uncommon for debtors to feel as if they have to make some tough decisions. This typically occurs because the debtor doesn’t have the money to pay all of their creditors, so they feel they need to rank which ones are more important to pay first. Which creditors can they pay?

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The Kaplan Group

JUNE 23, 2020

Here are some tips for both debtors and creditors considering a payment plan as a way to resolve an issue. Your creditors do not want you to go out of business or declare bankruptcy. Are you offering collateral? DO consult with a bankruptcy attorney or credit counselor. DO ask to create a payment plan.

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Consumer Financial Services Law

JANUARY 22, 2021

Background The case arose from four separate chapter 13 bankruptcy cases in which the debtors sought to regain possession of their vehicles from the City of Chicago, which had seized and impounded the vehicles prepetition due to unpaid parking tickets and similar traffic fines. The case, City of Chicago v. Fulton, No. Fulton, No.

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The Creditors Rights

MAY 24, 2016

The Ninth Circuit BAP recently discussed on appeal the issue of whether a bankruptcy court may use the “fair and equitable” standard for confirmation in § 1129(b) to deny an oversecured creditor default interest on its claim to which it would otherwise be entitled under § 506(b). In Wells Fargo Bank, N.A. 819 (9 th Cir. The BAP reversed.

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Jimerson Firm

JANUARY 27, 2021

If the borrower is unable to pay the full amount owed on an SBA loan after all of the collateral has been liquidated, the borrower may submit an “offer in compromise.” An offer in compromise is appropriate when the borrower’s business has closed down and all of the collateral has been liquidated. SOP 50 57 2; SOP 50 55.

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