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Chapter 11 bankruptcies are up 63 percent
Chapter 11 bankruptcies occur when companies file for bankruptcy in order to protect themselves from creditors and to restructure their debt into something more manageable. This process is overseen by a Federal bankruptcy judge. Usually,…
Toys “R” Us not going bankrupt after all
In the early summer of 2018, one of the largest and most iconic toy stores shocked the world by closing almost all of its 800 stores. Toys R Us was already in Chapter 11 bankruptcy…
Bankruptcies soar among the elderly
A 2018 study has shown that bankruptcies among the elderly have increased over the last several years at a significant rate. From 1991 to 2016, the study indicated that bankruptcies of people 65 and older…
The easiest ways to save money after bankruptcy
Life after a bankruptcy can be a tough. Sure, the knowledge that your debts have been wiped out is good, but sometimes there is a sense of failure. There is also the fear that you…
Privacy considerations in bankruptcy cases
Many people facing the prospect of filing a personal bankruptcy are concerned about the loss of privacy that could occur when their financial affairs become a matter of public record. This is a reasonable concern….
Can student loans be discharged in bankruptcy?
The spotlight on student loan defaults has grown brighter the past five years, yet the ever-growing student loan crisis crippling the financial futures of many students in college and beyond has yet to be solved…
Do I have to file a joint bankruptcy with my spouse?
It is no secret married couples do a lot of things together, such as raise children and pay taxes. Something else they can do as a unit, but do not have to, is file a…
Exemptions allow debtors to keep assets despite filing bankruptcy
There is no question filing personal bankruptcy is daunting. Understandably, debtors have a multitude of questions, such as how filing might impact their credit score, what happens to the debts included in bankruptcy paperwork and…
What is the role of Bankruptcy Trustee?
A person who files bankruptcy will likely never meet or speak with the countless people involved in their bankruptcy, such as their creditors and, in most cases, the Bankruptcy Judge assigned to their case. However,…
What an automatic stay is and how it can keep debt collectors away
When a debtor files bankruptcy, a “legal shield,” called an automatic stay, goes into effect immediately. It serves to stay, or stop, all collection efforts in effect at the time of the bankruptcy filing. One…