Chapter 11 small business part one discussed some of the reasons businesses lose money, and the start of the analysis business owners need to do before deciding if a small business Chapter 11 makes sense. So, you figure out what it cost to run the business every month, then, you know how much you need [...]
July 2009
June 2009 will be a month to be remembered by the debt collectors and debt collection lawfirms. Consumers are suing Debt Collectors in record volume. In June, debt collection lawsuits jumped 29.6%. Webrecon, LLC reported the statistics, and it is obvious that the number of debt collection abuses are sky high. In June, there were [...]
A surprising result in a California bankruptcy case: an $800,000 house with a monthly payment of $4,446, a motor home with a monthly payment of $396, and a boat with a monthly payment of $760 actually enabled a married couple to successfully file chapter 7. The court in In re Jensen, 2009 WL 1708229 (Bky.C.D.Cal. [...]
With all the news stories about the foreclosure crisis and with the available programs for folks to try to maintain their house, a more basic question arises–should I even keep my house in a bankruptcy filing? To be sure, this is not a decision to be made lightly and only after exploring all available options. [...]
The Motley Fool says the currently-available home mortgage loan modification programs are “dangerously delaying the inevitable“. ‘This all loops back to a painful reality: The only way to climb out of the housing mess is to let prices find a true bottom,” according to The Fool. “Ultimately, that means those who bought homes they could [...]
Over the past couple of years I have met with several dozen remodeling contractors to discuss bankruptcy. Like many places, the Atlanta area has experienced a downturn in home building and home renovations and building contractors of all sizes have suffered greatly. Clients and potential clients in this profession range from the one man contractor [...]
