Chapter 7 Bankruptcy

20 Nov Chapter 7 Bankruptcy Lets You Cut Your Debt Losses and Move On.

[caption id="attachment_26396" align="alignright" width="216" caption="Cheaper to file bankruptcy"][/caption] Sometimes it makes more sense to let go of the past and start building a new future. Chapter 7 bankruptcy can be your solution. Does this debt arrangement conversation sound familiar? Client: I want to make arrangements to pay this debt. Me: Ok, how much can you offer to pay? Client: Nothing, I don’t have any money? Is it any wonder the bank will not work with you? Be realistic, creditors want cold hard cash, not talk, not arrangements. If you cannot make a payment, your arrangement, while well intentioned, is nothing more than an empty promise. It is time to check into reality.
Read More

16 Oct Should My Business File for Chapter 7?

I frequently meet with clients who own a business that has financial problems. It may not be able to pay its bills as they come due, there may be an eviction threatened, or a lawsuit. These clients have done some homework, and usually start out our meeting by saying that they want to retain me to file Chapter 7 bankruptcy for their corporation or LLC. They are also surprised when I tell them that for most businesses, Chapter 7 makes absolutely no sense. Why?
Read More

24 Sep Should You be Concerned About a “Poison Pen” Letter?

Your bankruptcy filing can stir deep emotions. More than a few times, I have received calls from individual (as opposed to corporate) creditors who, after receiving a bankruptcy notice, have called me to express their displeasure that my client is seeking to discharge a debt. Sometimes these folks will appear at your 341 hearing to protest and sometimes they will write a "poison pen" letter.
Read More

02 Sep Bankruptcy Judge Uses Creative Solution to Help Homeowner in Foreclosure Limbo

Nashville bankruptcy judge George C. Paine, II confronted one of the thorniest issues facing debtors in his district, and crafted a creative solution to deal with the problem. The debtor in that bankruptcy case was caught in a situation more and more homeowners now face....

Read More