Tag Archives: bankruptcy

California Chapter 11 Bankruptcy Law

California Chapter 11 Bankruptcy Law California businesses have a couple of options to deal with dire financial conditions, and filing for a Chapter 11 bankruptcy can be an attractive option. However, it can be a bit complex, and to be … Continue reading

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How Creditors Get Paid Under a Chapter 11 Plan

Obviously, the debtor doesn’t have sufficient ready funds to pay all creditors at the time of filing. Instead, an approved plan relies on future business earnings and profits to address creditor debts. The debt claims are prioritized with taxes owed … Continue reading

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Don’t Declare Bankruptcy Before You Need To

Today, many people are deciding to declare bankruptcy. With so many people being laid off, a lot of people are deciding to file for bankruptcy but you need to realize that it is not for everyone. There are other ways … Continue reading

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How and When to Reopen a Bankruptcy Case

Sometimes people want to reopen a closed bankruptcy case because they failed to invoke important procedures while their bankruptcy case was open. Fortunately it’s usually possible to reopen the bankruptcy and play catch-up. Common reasons for wanting to reopen a … Continue reading

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Chapter 11 Bankruptcy basic

       Chapter 11 bankruptcy is a reorganization procedure used by businesses, including sole proprietors, partnerships, and corporations. The debtor in chapter 11 files a petition which includes a list of assets and liabilities, and a detailed statement of financial … Continue reading

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The Homeowners struggle

Warren op-ed: Banking on Hypocrisy posted by Katie Porter Check out Credit Slips co-blogger Elizabeth Warren’s op-ed on Politico, entitled Banking on Hypocrisy. She quotes extensively from a letter that the American Bankers Association sent to banking regulators in 2006 … Continue reading

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Mortgage servicing and standing

Cramdown Controversy #2–Will I “Succeed?” posted by Katie Porter Our active readers at Credit Slips already started debating the second controversy about the pending cramdown legislation: is the failure rate of chapter 13 too high to make mortgage modification in … Continue reading

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