Category Archives: Bankruptcy
Bankruptcy is a complex process, and a personal one. For that reason, many people consider trying to wade through the bankruptcy process themselves, without the assistance of an attorney. However, despite your do-it-yourself attitude, it is highly inadvisable to go through the bankruptcy process without a lawyer to help guide you. Bankruptcy is so easy to mess up – even skipping a little step or improperly filling out a form can lead to your case getting thrown out, or certain debts not getting discharged. But what should you look for in a bankruptcy attorney? A deep knowledge of bankruptcy law Someone who understands the complexity of your case, whether individual or for business bankruptcy Someone that you think you can develop a good professional relationship with When seeking a bankruptcy attorney, beware of scams – there are a lot of companies out there promising quick fixes for your financial problems….
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One of the main benefits of Chapter 7 bankruptcy is the ability to eliminate debts and get a fresh start. But exactly which debts are wiped in Chapter 7? Will you really have a clean state to rebuild your finances on? A discharge releases the debtor from liability for debts and stops creditors from pursuing collection against the debtor. The good news: many debts are dischargeable in bankruptcy, and Chapter 7 does not take very long to complete (usually a few months). The bad: not all debts can be discharged, and you may have to make other sacrifices. What Debts Can Be Discharged in Chapter 7? Under the Bankruptcy Code, there are 19 categories of debt that cannot be discharged. These include: Unscheduled debts (debts you fail to list on your bankruptcy petition or mailing list) Some taxes Spousal or child support, as well as other debts owed for former…
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Will the sexual assault scandal simmering at The Weinstein Company lead to bankruptcy? Not according to Bob Weinstein, but other signs indicate it might happen. According to Variety, the company’s leadership is torn on whether to reorganize in the face of potential bankruptcy. Some members wish to sell the company. Others are concerned that the explosive allegations against Harvey Weinstein could lead to massive liabilities when all potential sex assault and harassment lawsuits are said and done. Still, others worry that the name of the company has been irreversibly tarnished, which will affect its ability to move forward with new projects. And according to TMZ, company leaders are concerned that they might not be able to get rid of Harvey Weinstein. Despite having already fired him, his contract stipulates that he is entitled to mediation followed by arbitration before he is allowed to be fired. His continued employment, if it…
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