Perhaps the biggest misconception of filing for bankruptcy is how long it takes to rebuild your credit. The amount of time a bankruptcy stays on your credit report varies depending on the type of...
October 10, 2022
Bankruptcy,
Business Bankruptcy
The term “preference payment” in a bankruptcy context can come as a surprise to many unsuspecting creditors. Picture this, you’re a small business, and one of your customers (also a small business)...
October 7, 2022
Bankruptcy
September 21, 2022
Bankruptcy,
Chapter 13,
Chapter 7,
Chapter 11
As of the last few months – cryptocurrency brokerage firms such as Three Arrows Capital, and Celsius Network, Ltd. filed for Chapter 11 Bankruptcy. Unfortunately for some of their customers, there...
September 19, 2022
Bankruptcy,
Business Bankruptcy,
Business Law
Internationally, the United States is looked at as a land of opportunities. Many come here seeking better business opportunities, educational benefits, or any other route to the American Dream....
August 18, 2022
Bankruptcy,
Chapter 13,
Debt Management,
Chapter 7,
Chapter 11
On June 21, 2022, President Biden signed into law the Bankruptcy Threshold Adjustment and Technical Corrections Act (Bill S. 3823). What Bill 3823 does is it increases the Chapter 13 debt limits...
July 21, 2022
Bankruptcy,
Debt Management,
Credit
When a person files for bankruptcy, they are beginning a complicated legal proceeding that involves multiple moving levers. Doing so creates obligations for both debtors and creditors, while also...
June 16, 2022
Bankruptcy,
Business Bankruptcy,
Business Law,
Credit
Under the bankruptcy code, a debtor my reject certain “executory contracts” as they can be considered liabilities to the estate. What this means is that a debtor may choose to assume, or reject,...
June 16, 2022
Bankruptcy,
Credit
While it does not happen often, debtors do sometimes pass away while their Chapter 7 or Chapter 13 bankruptcy case is still pending. Those in their old age, or those attempting to discharge...