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Tag Archives: bankruptcy filings

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 »

How Effective Was the BAPCPA?

In 2005, Congress passed the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) to reform bankruptcy and in an attempt to make it more difficult for abusive bankruptcy filings to occur. By definition, reform should improve an unsatisfactory condition. Forbes ran an article in 2012 that tax rebates boost bankruptcies. This fact suggests that tax… Read More »

How Bankruptcy Remedies the Economic System

We often hear people say that filing bankruptcy is “unethical” or “wrong” and that it isn’t good for society.  From a macroeconomic viewpoint, however, bankruptcy filings are good for the economy.  When a person files for bankruptcy, it frees up that person’s monetary flow. Without the bankruptcy system, debtors would remain unable to pay debts,… Read More »