Weather forecasters gave us Rhode Islanders fair warning that we would be experiencing the worst rain storm in over one-hundred years. We even made national news. Small streams were overwhelmed, the water table rose, and property owners that never before worried about such things were forming lines outside Lowe’s and Home Depot hoping to buy [...]
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You may or may not lose your rental property if you file bankruptcy. The two most important issues are whether the property is producing a positive income and whether the property has any equity, as well as which chapter of bankruptcy you file. Maintaining a rental property is not without its costs. At a minimum, [...]
Chapter 13 bankruptcy is especially well tailored to middle and upper middle class Americans who are having financial difficulty. In a Chapter 13 creditors get paid back at least some of what they are owed, and debtors participate in an affordable payment arrangement administered by a Chapter 13 Trustee. Chapter 13 is usually a win-win [...]
If you are planning on filing for bankruptcy soon after moving out of your marital residence, there are some potentially serious issues to consider. While filing for bankruptcy soon after separating from your spouse and leaving your home is entirely permissible, you should be sure you are fully aware of the consequences, particularly if you have equity in your [...]
According to a recent article in the The Economist, “in one respect at least America remains a beacon for the rest of the world: its treatment of corporate bankruptcy.” The purpose behind America’s corporate bankruptcy laws is “to put economic resources back to productive use as quickly as possible.” U.S. bankruptcy laws distinguish between those [...]
Today, December 29, 2009, was a cold and miserable day in Atlanta, Georgia. Unfortunately I had a Chapter 7 bankruptcy 341 hearing to attend at the federal courthouse in Atlanta. I bundled up the best I could, took the train to the nearest stop – about 1/2 a mile from the courthouse – and braved [...]
