Sawin & Shea

JANUARY 11, 2024

Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Bankruptcy filings for both individuals and businesses are on the rise. Since 2005, a debtor education course from an approved provider is mandatory for anyone who files for bankruptcy.

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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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Credit Corp

MAY 30, 2023

Bankruptcy can happen to anyone—despite their best efforts. And while most people understand that bankruptcy is generally bad for them, many don’t realize the details of how it can impact you. Read below to find out what happens to your credit score after bankruptcy and what you can do to repair your credit afterward.

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Sawin & Shea

JULY 19, 2023

If you find yourself in an untenable financial situation, bankruptcy may be your best option. Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt. Chapter 7 bankruptcy , or liquidation bankruptcy, allows you to discharge all or most of your debt.

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Roths Child Law

MAY 7, 2023

Are you struggling with overwhelming debt and considering bankruptcy as a way out? If so, you may have heard of Chapter 7 and 13 bankruptcy. Bankruptcy is a legal process that allows individuals or businesses to eliminate or reorganize their debt. This stops virtually all collection actions from creditors.

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Credit Corp

MAY 1, 2024

Participate in a Debt Relief Program If you’re too busy to negotiate or you just don’t feel confident doing it on your own, consider signing up for a debt relief program. File for Bankruptcy Bankruptcy is a legal process that allows you to eliminate some or all of your debts. Filing for bankruptcy has several pros and cons.

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Credit Card Debt Chapter 7 bankruptcy Bankruptcy Creditors 59

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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Sawin & Shea

AUGUST 30, 2023

What is Bankruptcy? Bankruptcy is an opportunity for someone to forge their way through what seems like an impossible debt-ridden situation and come out the other side. Although businesses can also declare bankruptcy, we will focus on personal bankruptcy in this article. Alimony payments. Court fines.

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Debt Free Colorado

FEBRUARY 17, 2023

Filing Bankruptcy for A Fresh Start in Colorado Whether you’ve lost your job or experienced insurmountable medical expenses on your credit card, or incessant calls from your creditors, you can get a fresh start by declaring bankruptcy. A bankruptcy discharge is a moment when you are no longer liable for any debt.

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Sawin & Shea

OCTOBER 18, 2023

But if you’re trying to decide if you should file for bankruptcy, going on vacation is more complicated. Vacation in Chapter 7 Bankruptcy You can take a vacation before filing for Chapter 7 bankruptcy if you’ve already paid for it, you weren’t experiencing financial difficulty at that time, and it’s non-refundable.

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ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Kramer , the U.S. 2] Taleb was the Vice President and General Counsel of Kramer’s Michigan-based real estate business. [3] 6] Taleb filed an $800,000 non-priority claim in the personal bankruptcy case. [7]

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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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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

FEBRUARY 19, 2021

Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts. Let’s take a look at some specific reasons why you may want to pursue a liquidation bankruptcy. Generally speaking, retirement funds are exempt from creditors in a bankruptcy proceeding.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In cross-border insolvency proceedings, the power to obtain information through discovery is essential for recovering assets for creditors. Historic & Trophy Buildings Fund FCP-SIF (the “Debtor”) entered into a liquidation proceeding in Luxembourg. [1]

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Albuquerque Law

FEBRUARY 22, 2022

There are options for family farmers to seek relief from debt and the financial challenges they face, but the thought of bankruptcy leads many farmers to worry about whether they will lose their property, their livestock and their livelihood? Chapter 7 and Chapter 13 bankruptcy are some of the most well-known forms of debt relief.

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Debt Free Colorado

MARCH 10, 2023

Learn about the Five Bankruptcy Myths in Littleton, Colorado Due to worries stoked by myths and misconceptions about bankruptcy, many people choose not to obtain debt relief. Truth be told, declaring bankruptcy may be one of the best decisions you’ve ever made for your present, future, and family.

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Albuquerque Law

MARCH 3, 2021

This past year has not been easy on anyone in the business world. When struggling with overwhelming debt, many restaurant owners fear that seeking debt relief through bankruptcy will mean the end of the line for their business. Liquidation is not the only option. Why do restaurant owners still avoid bankruptcy?

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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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PBWT

JULY 25, 2021

Some courts permit debtors to designate vendors crucial to their business as “critical vendors.” Debtors are permitted to pay them amounts owing when a bankruptcy case is filed. Dorsey allowed the bankruptcy trustee to pursue those preference claims against critical vendors. Insys Liquidation Trust v.

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Collection Industry News

AUGUST 16, 2023

This case study showcases the remarkable success achieved through DR’s strategic partnership in the liquidation of Simply Mac. (SM), SM), a company that faced intricate challenges during its Chapter 7 bankruptcy filing. The liquidation of Simply Mac.

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Albuquerque Law

MARCH 3, 2021

This past year has not been easy on anyone in the business world. When struggling with overwhelming debt, many restaurant owners fear that seeking debt relief through bankruptcy will mean the end of the line for their business. Liquidation is not the only option. Why do restaurant owners still avoid bankruptcy?

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Bankruptcy Chapter 7 bankruptcy Collections 40

PBWT

APRIL 26, 2021

A recent case shows how even late payments can be used to satisfy the ordinary course of business defense in a preference avoidance action. About 20 months after the lease began, the tenant filed for chapter 7. The defendant later moved for summary judgment, citing the ordinary course of business defense. Baumgart v.

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff One of the requirements a debtor must meet in order to be eligible for Subchapter V of Chapter 11 of title 11 of the United States Code (the “Bankruptcy Code”) is that it must be "engaged in commercial or business activities." [1]

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Taurus Collect

DECEMBER 29, 2022

Every business depends on its customers or clients for cash flow to sustain itself. In fact, their money is like the lifeblood of the business owner and the employees as well. Unfortunately, safeguarding your business is not as simple as regularly exercising and eating healthy; there are various obstacles down the road.

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Collection Industry News

FEBRUARY 5, 2021

04, 2021 (GLOBE NEWSWIRE) — Epiq, a global technology-enabled services leader to the legal services industry and corporations, released its January 2021 bankruptcy filing statistics from its AACER bankruptcy information services business. bankruptcy filings,” said Chris Kruse, senior vice president of Epiq AACER.

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Roths Child Law

FEBRUARY 19, 2021

Filing for Chapter 7 bankruptcy can be an effective way to eliminate a variety of unsecured business or personal debts. Let's take a look at some specific reasons why you may want to pursue a liquidation bankruptcy. Generally speaking, retirement funds are exempt from creditors in a bankruptcy proceeding.

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Nexa Collect

AUGUST 2, 2020

The loss does not mean the future business, but if they file for bankruptcy, then even the current outstanding AR may turn into a complete loss. It takes startups about 2 to 3 years to become successful and 7-10 to become truly profitable. The next step is often filing a Petition for Chapter 11 bankruptcy protection.

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PBWT

NOVEMBER 24, 2020

a cryptocurrency investment platform currently in Chapter 11, asked Delaware Bankruptcy Judge John T. Dorsey to convert the Chapter 11 case to a Chapter 7 liquidation (or, in the alternative, to appoint a Chapter 11 Trustee “with expertise in hunting down. stolen cryptocurrency”).

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Better Credit Blog

JANUARY 11, 2022

If you find yourself saddled with more debt than you can reasonably pay off in a timely manner, you can always file for bankruptcy. But sometimes bankruptcy is the best way to get a new start so you can then stay on top of your finances, and with hard work, you can begin to turn your financial life around. About Bankruptcy.

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ABI

JANUARY 23, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff The Bankruptcy Court for the Southern District of New York was presented with two issues related to a subpoena target’s refusal to comply in In re Three Arrows Capital, Ltd. 7] In re Three Arrows, 649 B.R. Tayler Eynon St. citizen residing abroad.

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Collections Law

SEPTEMBER 10, 2021

There is no question that a bankruptcy filing can frustrate your attempt to collect on a debt from another business in Massachusetts. You may still receive some payment through bankruptcy, even if you cannot collect on the entire amount the business owes you. You should not give up, though. At Law Offices of Alan M.

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Debtor Bankruptcy Chapter 7 bankruptcy Collections 52

ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Under title 11 of the United States Code (the “Bankruptcy Code”), a trustee or debtor in possession may avoid or recover certain payments made by the debtor before the bankruptcy filing as a “preference.” [1] 3] In Insys Liquidation Trust v. McKesson Corp. ,

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ABI

JANUARY 22, 2023

John's University School of Law American Bankruptcy Institute Law Review Staff The Worker Adjustment and Retraining Notification Act ("WARN Act") provides that “an employer shall not order a plant closing or mass layoff until the end of a 60-day period after the employer serves written notice of such order” to each impacted employee. [1]

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. A unique opportunity for Chapter 11 restructuring of small businesses with up to $7.5 The clock is ticking for small businesses (with debt of less than $7.5 million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code.

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ABI

JANUARY 19, 2024

John’s University School of Law American Bankruptcy Law Review Staff Under section 548 of title 11 of the United States Code (the “Bankruptcy Code”), a trustee may avoid any transfer or obligation incurred if the debtor had actual intent to hinder, delay, or defraud creditors. [1] John Hayes St. 30] [1] 11 U.S.C. §

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Debt RR

DECEMBER 13, 2019

Corporations have been increasingly defaulting on debt, with many businesses are struggling to maintain revenues and liquidity. Sometimes businesses aren’t prepared for market changes or a slump stretches longer than it should have, causing them to fall further into debt as bills pile up. Liquidate Inventory/Assets.

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