Chapter 11 for large corporations has been much in the news lately, but Chapter 11 can be a valuable tool for individuals and small businesses, too. For most individuals and small businesses, Chapter 7 and Chapter 13 are the first options considered, but Chapter 11 relief is not limited to large companies, or even to [...]
May 2009
If you’re dealing with excessive personal debt, and you are considering bankruptcy as a solution, you will have two options: Chapter 7 bankruptcy erases your liability for most debts, so you will not be required to pay them back; Chapter 13 bankruptcy, conversely, allows you to pay your debts over an extended time period (typically [...]
People are often worried about whether they can keep their car in bankruptcy. This makes sense because in places without pervasive public transportation people need cars to get to work, take their kids to school, etc. There are a few key points about cars to remember. 1. In a Chapter 13 case you never lose [...]
In Charge Debt Solutions, one of the most reputable of debt management firms which try to keep people out of bankruptcy through so-called “debt settlement plans” now says that bankruptcy is the best solution for many of the people it counsels. The Los Angeles Times reports that In Charge now tells 42% of the people [...]
BankUnited is suing quite a few of my clients. Â We are fighting back. Â BankUnited, located in South Florida, was a leader in the use of Option ARMS. Â These mortgages were among the worst of the predatory toxic loans we have seen. Â One of my clients is an elderly man who received this horrible loan shortly [...]
Many people are losing their jobs these days. For example, car dealers are closing their doors everywhere.So are auto factories. People who used to make a very nice living are really struggling. Their income over the past few months might have been above the national average. But it won’t be for much longer. These people [...]
