from The American Bankruptcy Institute
Many business owners are confused on whether a personal bankruptcy filing has the ability to wipe out business-related debt. In many cases, this is possible depending on the type of debt and whether you are indeed personally liable for the debt. The way your business is structured may also affect your ability to obtain a [...]
Robert “Jeff” Johnson, 46, was recently sentenced to 15 months in prison for fraud, along with being ordered by a federal judge to pay $1.6 million to the Internal Revenue Service (IRS) and a bank he defrauded. Johnson was indicted on 12 counts in 2010 that included theft, larceny, obstruction of correspondence, falsification of records, [...]
On average, a Chapter 13 bankruptcy repayment plan can last anywhere from three to five years. Yet, there are factors to consider in determining how long your case will last since each situation varies. The amount you pay is based on your monthly income, with similar factors determining the amount of time the debtor commits [...]
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 11, 2013 Reports: Fisker Automotive to file for bankruptcy this week Alfacam sees risk of bankruptcy, shares suspended Bankruptcy clouds ‘Girls Gone Wild’ collection path
Bankruptcy may help reduce your vehicle payment but your mortgage payment may not have the same option. In other words, depending on which chapter you file you may be able to have your vehicle payment reduced, reaffirm your loan agreement with the lender, or set up a payment arrangement that helps you get caught up [...]
Some debtors claim their mortgage lender refused payment after they file bankruptcy protection. While this may sound unusual, the lender may decide not to accept payment from you in order not to violate the automatic stay that goes into effect when your petition is filed. When bankruptcy is filed the automatic stay goes into effect. [...]
Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 09, 2013 Bankruptcy trustee wants to sell Casey Anthony’s life story Doctors driven to bankruptcy Greensboro mayor is $10.8 million in debt, bankruptcy records show
For consumers considering bankruptcy protection, you may be unaware of the credit counseling requirement needed in order to file your petition. There is also a financial management courses that are required in order for debts to be successfully discharged. Many may not be fully aware of the second course requirement since it is different from [...]
Myra Holmes, 55, was recently convicted by a federal jury of one count of bankruptcy fraud, one count of bank fraud and three counts of making a false statement to a bank. There were two other false statement accounts Holmes was acquitted on after a recent 3-week court trial. Her conviction includes taking more than [...]
Making the decision to file bankruptcy brings you one step closer to achieving the fresh start you’re looking to achieve. In regaining financial control you want to ensure you follow the process thoroughly in order to obtain a favorable outcome. One of the most important aspects in establishing a positive working relationship between you and [...]Bankruptcy News for You
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