Chapter 11 Bankruptcy Filings Rose 72% in 2023 CFO is reporting that Chapter 11 bankruptcy filings rose 72% in 2023. The story can be found at https://www.cfo.com/news/chapter-11-bankruptcy-reorganization-2023-Epiq-...

 SBA EIDL LOANS & CIVIL & CRIMINAL PENALTIES & BANKRUPTCY FILINGSMany people are contacting us, asking if wrongfully applying for or misusing SBA EIDL funds constitutes a crime or could subject them to civil or criminal penalties. The answer depends on the "facts and circumstances" of each case. The first fact to consider is whether the action was a mistake (negligent) or willful. Negligent actions are not criminal, but willful actions may be. Second, what is the dollar amount involved? Was it a misapplication of $25,000.00, $50,000.00, or $1,000,000.00?

 The Washington Post Business Edition is reporting that in a reversal of policy the U.S. Government will heighten efforts to collect $30 Billion of defaulted SBA EIDL loans by referring those loans to Treasury Direct for collection. This is a reversal of  SBA policy where the SBA had stated that they would not seek to collect defaulted SBA loans under $100,000.00Clients with questions about defaulted SBA loans should contact Jim Shenwick, Esq.

The Ultimate Guide to Preserving Your Retirement Savings in Oregon Bankruptcy
Bankruptcy can be stressful and overwhelming, especially if you are worried about losing your hard-earned retirement funds. However, there are ways to protect your retirement savings from creditors and keep them intact for your future. In this article, we will discuss the steps and strategies for protecting your retirement funds in bankruptcy in Oregon. 
Short Summary:

The Ultimate Guide to Preserving Your Retirement Savings in Oregon Bankruptcy
Bankruptcy can be stressful and overwhelming, especially if you are worried about losing your hard-earned retirement funds. However, there are ways to protect your retirement savings from creditors and keep them intact for your future. In this article, we will discuss the steps and strategies for protecting your retirement funds in bankruptcy in Oregon. 
Short Summary:

 IRS Grants Automatic Relief To Millions In Taxpayer Penalty WaiversThe story can be found at https://www.pelhamplus.com/finance/irs-grants-automatic-relief-to-millions-in-taxpayer-penalty-waivers/

Robert traded his 2007 Ford Mustang on a new Ford Focus shortly before filing Chapter 13 bankruptcy.

Virginia bankruptcy lawyer Kaitlin Vaillancourt worked with me on this Chapter 13 appeal.
Thomas Gorman, the Chapter 13 trustee, objected that was “bad faith.” Robert said it was prudent planning–he needed a newer, more efficient car to get through a five year Chapter 13 plan.

Most people who file bankruptcy never go to the bankruptcy courthouse.
 
About a month after your bankruptcy papers are filed, you have to attend a bankruptcy trustee hearing.  (Also called a “meeting of creditors” or a “341 hearing.”)  Those routine and they are done on Zoom.
When something is NOT routine, we have to go in front of the bankruptcy judge at the bankruptcy courthouse.
Where is that bankruptcy courthouse?

The bankruptcy court in Alexandria VA serves all of Northern Virginia. The Virginia bankruptcy court is a federal court. The Federal Court system divides Virginia into Eastern and Western districts.
We’re in the Eastern District, Alexandria Division

The FDCPA requires that a debt collector sue you in the right judicial district.
Virginia is divided into Judicial Districts. You can see that map here.
In Northern Virginia, most district are one county. But Loudoun and Fauquier share one district. Stafford is in with Fredericksburg and Spotsylvania. So if you live in Stafford, they can sue you in Spotsy. And if you live in Fauquier, they can sue you in Loudoun. Right?
That’s what we thought.