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Monthly Archives: November 2012

Tis’ The Season: Holiday Gift Cards And Bankruptcy

Gift cards are not just for holidays anymore. As a stocking stuffer or a graduation present, gift cards make it easy for those who give and those who receive. We represent clients across the United States taking serious measures to reduce their debt, pay back creditors and improve their credit worthiness. But what measures do… Read More »

Lesser Known Types of Bankruptcy

Most people are familiar with the concept of filing for bankruptcy. And many people understand that there are different types of bankruptcy for businesses and individuals. The most common types of bankruptcy — and the ones with which most people are familiar — are Chapter 7, Chapter 11 and Chapter 13. But many people are… Read More »

What Debts Can’t be Discharged?

Bankruptcy is a powerful tool for debtors who want to get a fresh start on their lives or businesses. But it still does have limits. Not all debts are subject to discharge in bankruptcy and it is important for those considering the process to understand what debts may remain before moving forward. The scope of… Read More »

What Role do Creditors Play in Bankruptcy?

Depending on the type of bankruptcy proceeding, creditors can have numerous rights. While bankruptcy automatically stays must collection activities, certain creditors may play an active role in the bankruptcy process. These creditors — whom the petitioner must list in his or her bankruptcy petition — must receive notice of the filing. Under Chapter 7, creditors… Read More »

What Kind of Assets Can You Keep after Liquidation?

Filing for bankruptcy is a big decision and people frequently have concerns about how it will affect their assets and credit, especially in the case of Chapter 7 liquidation bankruptcy. Many people believe that when they file for Chapter 7, they must give up everything they own in order to receive a discharge. But that… Read More »

Successful Companies that have Declared Bankruptcy

People are often quick to assume that bankruptcy is a financial death sentence. That is why they often get confused when they hear a major company is filing for bankruptcy but see them continuing to do business. The fact is bankruptcy is not what many people think. Its purpose is to allow conscientious debtors another… Read More »

Bankruptcy Statistics Nationwide

Bankruptcy is more common than you may think. According to the Administrative Office of the United States Courts, in 2011 there were over 1.4 million bankruptcy filings nationwide. The vast majority of these — over 70 percent — were for liquidation under Chapter 7. Also surprisingly, individuals and other nonbusiness entities accounted for over 96… Read More »