Sawin & Shea

APRIL 3, 2024

Filing for bankruptcy is a great financial option for those struggling with cumbersome debt. But you may be wondering, “What Is the Impact of Bankruptcy on Professional Licenses and Certifications?” How Will Filing Bankruptcy Impact My Professional License?

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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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Sawin & Shea

JUNE 21, 2023

Filing for Chapter 13 bankruptcy can help you improve your financial situation. The Chapter 13 repayment plan consolidates your existing debts into a three to five-year plan to pay back your creditors, and initiating the process offers immediate protections, including an automatic stay, and allows you to keep all of your possessions.

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Credit Corp

FEBRUARY 23, 2024

Getting back on your feet after bankruptcy can be a gradual process, but it doesn’t mean you have to give up on your dream of buying a home. In fact, buying a house is possible just a couple of years after you file for bankruptcy. Read on to learn more about buying a house after bankruptcy.

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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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PBWT

OCTOBER 24, 2022

bankruptcy court recently denied chapter 15 recognition to a case in the Isle of Man (IOM). Although the court found that the IOM proceeding was a “foreign proceeding,” it also held that the debtor’s center of main interests wasn’t in the IOM and the debtor didn't have an establishment there.

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PBWT

JULY 20, 2021

The Bankruptcy Code grants the power to avoid certain transactions to a bankruptcy trustee or debtor-in-possession. Is there a general requirement that these avoidance powers only be used when doing so would benefit creditors? Plaintiff filed for bankruptcy in February 2021. See, e.g., 11 U.S.C. §§

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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. 1] In 1995, Purdue, a privately held pharmaceutical company owned and governed by the Sackler family developed and the FDA approved Oxycontin. 8] The U.S. 8] The U.S. 8] The U.S. 9] The U.S. 10] The U.S.

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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?

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PBWT

DECEMBER 19, 2021

The debtor is a well-known truck rental company. Years before the debtor filed for bankruptcy, a class action lawsuit was filed against it. The suit alleged the debtor had improperly charged certain environmental fees and sought damages totaling $53 million. In June 2021, the debtor filed for chapter 11.

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Sawin & Shea

JANUARY 12, 2022

Debt elimination is typically one of the primary reasons a debtor will pursue bankruptcy. While filing for bankruptcy is often the best course of action if you are overwhelmed by debt and struggling to stay afloat, it’s important to understand what debts can and cannot be discharged in bankruptcy.

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Sawin & Shea

MARCH 27, 2024

Filing for bankruptcy can feel incredibly daunting, especially if you have concerns over whether it may impact your future job prospects. The sad reality is that many people hold misconceptions regarding bankruptcy filers. They believe those declaring bankruptcy are irresponsible or bad with money. What Is Chapter 7 Bankruptcy?

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ABI

JANUARY 13, 2022

American Bankruptcy Institute Law Review Staff. . Section 523 of Title 11 of the United States Code (the “Bankruptcy Code”) generally provides that a student loan cannot be discharged unless it would impose “undue hardship” on the debtor. [1] Kimberly Lee. John’s University School of Law. 16] . . [1] 523(a)(8). [2]

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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. by the existence of a separate provision, §542, that expressly governs the turnover of estate property.”

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Titan Consulting

AUGUST 23, 2020

Bankruptcy will destroy your credit and remain on your credit report for up to 10 years. In many cases, you may also lose certain secured assets like homes and cars in a liquidation to pay your creditors some of what you owe. You must qualify to file for bankruptcy, and your income must meet an income means test. Key Takeaways.

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Sawin & Shea

JULY 13, 2022

The majority of people in Indiana who have thought about declaring bankruptcy likely already know how challenging it is to get student loans erased. Although it is not impossible, debtors normally need to pass the Brunner test, which establishes that repaying the student loans will put them in an unreasonably difficult position.

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Nexa Collect

AUGUST 8, 2020

Agencies offer their agents rigorous training and access to advanced tools like skip tracing and bankruptcy scrub to improve the accuracy of their collections. Skip tracing techniques allow agents to track down debtors that have “skipped” out on their debts and are no longer reachable. Most creditors are unaware of these.

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Nexa Collect

JULY 28, 2020

Agencies offer their agents rigorous training and access to advanced tools like skip tracing and bankruptcy scrub to improve the accuracy of their collections. Skip tracing techniques allow agents to track down debtors that have “skipped” out on their debts and are no longer reachable. Most creditors are unaware of these.

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Sawin & Shea

MARCH 2, 2022

Shortly after you file for Chapter 7 or Chapter 13 bankruptcy, you will receive a notice for your section 341 meeting of creditors. It’s an essential part of the bankruptcy process that usually takes place at the Federal courthouse, but currently is done over the phone or via a Zoom chat due to the pandemic.

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Hudson Weir

JULY 11, 2022

In recent articles, we’ve covered insolvency in great detail, but what is bankruptcy and is it any different? The bankruptcy rate in the UK had been increasing steadily in recent years. So, what is bankruptcy exactly? How long does bankruptcy stay on your credit report in the UK? What is bankruptcy?

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Nexa Collect

MARCH 12, 2021

The FCRA-mandated credit reporting period is the same in Puerto Rico: 7 years for debt, and 10 years for bankruptcies, but note that Puerto Rico has its own statute of limitations for filing lawsuits to collect debts: 15 years. 981p (12)). All that being said, in Puerto Rico interest is allowed on money judgments, at a rate of 6%.

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Collection Industry News

AUGUST 18, 2020

Despite the impact of the COVID-19 outbreak on legal matters and company wellbeing, creditors still have the same remedies at their disposal to recover unpaid debts (for further details please see “ Debt collection during COVID-19 “). dissolve an agreement with the debtor. dissolve an agreement with the debtor.

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PBWT

DECEMBER 28, 2022

It’s often hard to persuade a bankruptcy court to grant a motion for substantial contribution. First, has my work benefitted both my client and other creditors? Second, did my work result in more than an incidental benefit to the bankruptcy estate? Both ACCJ and RLT were not-for-profit corporations with similar missions.

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Consumer Financial Services Law

JULY 21, 2021

Bankruptcy Court for the Eastern District of North Carolina. The bankruptcy court order held mortgage servicer Newrez, LLC (“Newrez”) and the holder of the mortgage note at issue in civil contempt for failing to abide by the terms of the individual debtors’ confirmed chapter 11 plan (the “Plan”). Newrez, LLC v. Lorenzen , 139 S.

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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. Unsecured Creditors Committee et al. , The debtor and his two brothers-in-law served as co-trustees of both trusts. A recent 10 th Circuit decision shows why. Thuma of the U.S.

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UK debt collections

NOVEMBER 16, 2023

The personal insolvencies consisted of 703 bankruptcies, 3,245 debt relief orders (DROs) and 5,933 individual voluntary arrangements (IVAs). DRO and bankruptcy numbers were higher than last year, with DROs in October 2023 being 71% higher than in October 2022, although the number of bankruptcies remained well below pre-2020 levels.

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PBWT

JULY 28, 2022

21-441, the Supreme Court case considering the question of whether the 2018 difference in fees between Bankruptcy Administrator judicial districts and U.S. Trustee judicial districts was consistent with the Constitution’s uniformity requirement for bankruptcy laws. Trustees, while six operate with Bankruptcy Administrators.

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ABI

JANUARY 24, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff In In re Maxus Energy Corporation , the United States Bankruptcy Court for the District of Delaware held that PSE&G could not file an amended proof of claim years after the bar date had passed on its timely-filed proof of claim. [1]

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ABI

JANUARY 19, 2024

The United States Court of Appeals for the Second Circuit held that only a party to an assumed contract can assert a cure claim against the debtor in In re George Wash. 4] Under the Ground Lease, Debtor was responsible for hiring and paying contractors for developing the retail portion of the George Washington Bridge Bus Station. [5]

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ABI

JANUARY 28, 2024

John’s University School of Law American Bankruptcy Institute Law Review Staff A motion for a preliminary injunction in a bankruptcy is governed by Federal Rule of Bankruptcy Procedure 7065, which incorporates Federal Rule of Civil Procedure 65. [1] Garrity Kuester St. 2] In Vital Pharmaceuticals, Inc. 24] Id.

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Burr Forman

OCTOBER 15, 2021

Hanna is a partner in the firm’s Creditors’ Rights & Bankruptcy group. Her practice focuses on representing creditors and debtors, both in and out of court, on a variety of issues. Hanna helps clients enforce or restructure debt obligations, including through the bankruptcy process. About Burr & Forman LLP.

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Debt Free Colorado

FEBRUARY 21, 2022

Bankruptcy may appear to be a scary process, but it does not have to be. You may be able to apply for one of many different types of bankruptcy, each of which accomplishes various aims, depending on your specific situation. The Fair Debt Collection Practices Act (FDCPA) does not apply to original creditors or cover company obligations.

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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 Texas, royalty creditors are afforded statutory protections. Texas, March 7, 2019).

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PBWT

AUGUST 24, 2020

I don’t know if Congress foresaw, when it enacted new Subchapter V of Chapter 11 of the Code [1] in the Small Business Reorganization Act of 2019 (“SBRA”), that debtors in pending cases would seek to convert or redesignate their cases as Subchapter V cases when SBRA became effective on February 19, 2020, but it was foreseeable.

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ABI

JANUARY 26, 2023

1] In In re Szczyporski, the United States Court of Appeals for the Third Circuit held that the shared responsibility payment is a tax entitled to priority under Title 11 of the United States Code (the “Bankruptcy Code”). [2] 3] The IRS filed a proof of claim against the Debtors for unpaid taxes and interest, including a $927.00

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . In In re Roman Catholic Church of Archdiocese of Santa Fe , the United States Bankruptcy Court for the District of New Mexico, held, in a matter of first impression, that bankruptcy courts have authority to confer derivative standing on creditors or committees to assert claims. [1]

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