When a bankruptcy petition is filed, section 362(a) of the Bankruptcy Code states that the bankruptcy petition provides a stay on the commencement or continuation of an action or proceeding against the debtor.An "Automatic Stay" provides relief to the debtor by stopping all litigation and collection efforts against him, giving him pause and time to reorganize his finances.After bankruptcy filing, creditors who wish to continue litigation against the debtor must file a motion to lift the stay in Bankruptcy Court.

 Yahoo is reporting that in October Individual Chapter 13 Bankruptcies Increase 27 Percent Over Last Year. The article can be found at https://lnkd.in/erj-t-4m
Jim Shenwick, Esq [email protected] 917 363 3391

 THE CFO website has a very useful article on restructuring businesses. The article is titled: 6 Steps to Prepare for the Next Restructuring Wave
It can be found at:https://www.cfo.com/budgeting-planning/strategy-budgeting-planning/2022/...
Jim Shenwick, Esq [email protected] 917 363 3391

 Fox Rothchild has published an article regarding the standard for dismissal of an individual’s Chapter 7 case based on the Debtor’s pre-petition bad faith behavior. The article can be viewed at https://www.jdsupra.com/legalnews/is-prepetition-bad-faith-cause-for-45603/
Jim Shenwick, Esq. [email protected] 917 363 3391

 Chapter 7 vs. Chapter 13 Bankruptcy: Which Is Best for You? See the informative article at https://wtop.com/news/2022/10/chapter-7-vs-chapter-13-bankruptcy-which-i...
For those people with questions about chapter 7 bankruptcy please contact Jim Shenwick,Esq. [email protected] 917 363 3391

 Forbes has an informative article about Biden’s Student Loan Forgiveness Application Is Here — 5 Tips Before You SubmitThe article can be found at https://www.forbes.com/sites/adamminsky/2022/10/15/bidens-student-loan-f...
JIm Shenwick, Esq 212 541 6224 [email protected]

 PR News Wire has a post on the differences between Chapter 7 and 11 for a small business. The post can be found at https://www.prnewswire.com/news-releases/differences-between-chapter-11-...
Jim Shenwick, Esq [email protected] 212 541 6224