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

NOVEMBER 15, 2023

If you’re struggling with financial hardship, filing for bankruptcy can be an effective way to get back on your feet. But filing for bankruptcy in Indiana doesn’t mean every outstanding debt you’ve ever incurred gets wiped away. Declaring bankruptcy will discharge most types of debt but not others. What do we mean by this?

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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. Which creditors can they pay? Which ones will not get the payment they’re owed? They’ll help you avoid potential pitfalls within the bankruptcy code.

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Sawin & Shea

JANUARY 25, 2022

If you are struggling with debt and are behind on payments, it’s important to understand what kind of debt you have and how it will be handled should you miss too many payments. 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.

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Collection Industry News

DECEMBER 21, 2020

Court of Appeals for the Ninth Circuit recently reversed an award of summary judgment in favor of a defendant debt collector against claims that it violated the federal Fair Debt Collection Practices Act (FDCPA) by attempting to collect a debt that was discharged in bankruptcy and no longer owed. Wells Fargo Bank , N.A., 3d 502 (9th Cir.

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Debt RR

APRIL 22, 2021

Now you hear the dreaded news: Your non-paying customer is filing for bankruptcy. However, if the debtor owes a significant amount, you may want to consider pursuing the debt in bankruptcy court. A Chapter 11 commercial bankruptcy filing is a serious legal matter that brings its own unique set of time constraints.

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CICM

JUNE 9, 2021

In this week’s guest blog, the Menzies LLP Creditor Services team highlight the areas you should be looking for on receipt of insolvency paperwork and, most importantly, whether there will be a dividend. Priority of payments in a company insolvency. Below is a non-exhaustive list of priority: Secured creditors – with a fixed charge.

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BN Lawyers

MARCH 23, 2020

It can make the difference between being able to work out an arrangement with a landlord or equipment lessors and needing to file for a chapter 11 bankruptcy to save your business. A lender may be willing to forbear payments in exchange for extending repayment out over an additional six-months to avoid forcing your business into bankruptcy.

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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.” Joy Denby-Peterson purchased a 2008 Corvette in July 2016, and several months later the vehicle was repossessed when Denby Peterson failed to make all of the required loan payments. any act to.

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Debt RR

DECEMBER 13, 2019

Refinancing typically lowers monthly payments and interest rates in exchange for lengthening the timeframe of the loan. Some creditors will accept equity and/or other concessions in exchange for debt forgiveness. Regardless of how it’s restructured, creditors often choose this route to protect their investments. Noteholders.

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ABI

JANUARY 12, 2022

American Bankruptcy Institute Law Review Staff. . Subject to court approval, a trustee or debtor in possession may assume or reject an executory contract or unexpired lease of a debtor under section 365 of title 11 of the United States Code (the “Bankruptcy Code”). [i] John’s University School of Law.

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Taurus Collect

DECEMBER 29, 2022

You have to deal with bad debts and clients who have filed for bankruptcy. Read on to understand what to do when a client files for bankruptcy. Under the law, creditors cannot communicate with the debtor if they have filed for bankruptcy. Discern the bankruptcy type. Cut off contact. Do the math.

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Collection Industry News

SEPTEMBER 29, 2020

Just in Time: New Bankruptcy Relief for Small Businesses. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million) to take advantage of a new way to restructure under chapter 11 of the Bankruptcy Code. million of third-party debt is set to expire early 2021. By Jerrold L.

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Collection Industry News

DECEMBER 21, 2020

proposed sweeping legislation that would overhaul consumer bankruptcy law. The proposed changes generally make it easier for consumers to access the bankruptcy system and discharge their debts. Below is a discussion of 10 critical changes proposed in the Consumer Bankruptcy Reform Act of 2020 (CBRA). and Jerrold Nadler (D-N.Y.),

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