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Archive for January 4th, 2009

Three Biggest Exceptions to Means Testing in Bankruptcy »

It used to be that there were two main exceptions to having to pass the “means test” when filing for bankruptcy under the new laws enacted in October, 2005.  Recently, a third large exception was added.
Prior to October, 2005, filing for bankruptcy did not require form “b22″ or taking a means test.  Instead of this [...]

Utah State Law Library Cites BLN »

A shout out to the Utah State Law Library blog who cited to the Bankruptcy Law Network”
“The Bankruptcy Law Network is a great online resource if you have questions about bankruptcy and want information from a reputable source. The web site content is created and vetted by bankruptcy attorneys and consumer advocates from across [...]

Chapter 11 Debtor in Possession »

In a Chapter 11 bankruptcy case, the debtor, the person or company that files the case, is a debtor in possession.
The debtor in possession, or D.I.P, has the power to keep running the business.  It also imposes duties and powers on the debtor.
The United States Trustee’s office has guidelines for the duties of a debtor [...]

Bankruptcy: An Acceptable Resolution For Financial Strife »

Just “walk away.”  That’s the title of a recent Newsweek article by Jane Bryant Quinn, normally a conservative financial writer.  The article recommends filing for bankruptcy in some circumstances, and doing it sooner rather than later.
Ms. Quinn discusses the humiliation often associated with filing for bankruptcy and points out, correctly, that that the purpose of [...]