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Tag Archives: chapter 11

The Myth of Irresponsibility: Why Most Individuals File for Bankruptcy

The good news on bankruptcy is that the number of filings in the United States went down in 2012. About 1.25 million people are expected to file this year for one of the versions of bankruptcy (Chapters 7, 11 or 13). This is down from 1.38 million in 2011. The Great Recession that began in… Read More »

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 »

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 »

Advantages the Debtor in Possession Role Offers in Chapter 11

In Chapter 11 bankruptcy, a corporation, partnership, or sole proprietorship can reorganize the business, continue operations, and work to pay off debts.  The debtor stays in possession of the business and acts as the fiduciary, called a debtor in possession. Maintaining control over the business provides advantages for debtors because they have more decision-making power… Read More »