After the debtor delivers all requested paperwork to his/her bankruptcy attorney, the bankruptcy petition is filed with the bankruptcy court.  The bankruptcy petition is generally 45 to 50 pages long but may be shorter if we are filing an “emergency bankruptcy” which is used when you need bankruptcy fast to stop an imminent foreclosure, wage garnishment etc. Eventually all paperwork must be fully completed.

Once the …

Comment author: Charlotte Bankruptcy

Comment by Charlotte Bankruptcy: … and Greensboro, NC Bankruptcy Lawyers

Category: Chapter 7 Bankruptcy , Dallas Bankruptcy

Tags: Bankruptcy Attorney Bankruptcy Court Creditors

Permalink: /dallas_bankruptcy/what-is-the-process-of-chapter-7-bankruptcy/

The burning question in most potential bankruptcy debtors’ minds is “What can I keep?”  You’re understandably worried about losing everything, but let me just put your mind at ease.  You’re definitely not going to lose everything. In fact, most people keep everything.  Bankruptcy was created specifically to help consumers sinking under the waves of financial overburden, and both state and federal law provide for …

Comment by Jim Ince: … of value in a bankruptcy. Most people worry about …

Category: Chapter 7 Bankruptcy , Dallas Bankruptcy Laws , Fort Worth Bankruptcy Laws , Property Exemptions , bankruptcy law

Tags: bankruptcy law chapter 7 Exemptions Texas

Permalink: /chapter_7_bankruptcy/what-can-i-keep-under-chapter-7-bankruptcy/

Chapter 11 bankruptcy is a type of bankruptcy used by businesses or individuals with at least $1,010,650 in secured debt, such as properties and vehicles and $336,900 in unsecured debt, such as credit cards. We mostly hear about Chapter 11 bankruptcy when companies such as GM file bankruptcy or celebrities such as Michael Vick and Stephen Baldwin seek bankruptcy protection; but Chapter 11 …

Comment by Jacob Decker: … to file for a Chp 11 than a Chp 13 or even a Chp 7. You …

Category: Bankruptcy , Chapter 11 Bankruptcy , Filing Bankruptcy

Tags: Bankruptcy Chapter 11 Bankruptcy Filing Bankruptcy

Permalink: /filing_bankruptcy/what-to-expect-in-chapter-11-bankruptcy/

Chapter 13 bankruptcy allows a debtor to repay all or part of their debts over a 3 to 5 year period of time.  However, some debtors who have filed Chapter 13 bankruptcy may find themselves facing new financial difficulties at some point during the repayment period that prevents them from making agreed upon payments.  This reason alone has been major factor is scaring off some debtors from …

Category: Bankruptcy , Bankruptcy Q&A , Chapter 13 Bankruptcy , Chapter 7 Bankruptcy , Economy , Foreclosures

Tags: Chapter 13 Bankruptcy Chapter 7 Bankruptcy Convert

Permalink: /chapter_7_bankruptcy/can-i-convert-my-chapter-13-to-chapter-7-bankruptcy/

Veoh, an online video sharing service plans to file for Chapter 7 bankruptcy and liquidate its business, according to the company’s founder, Dmitry Shapiro. Shapiro posted a passionate open letter blaming a legal battle with Universal Music Group for the company’s bankruptcy: 

“Two years ago, Universal Music Group (UMG), the largest music company in the world sued Veoh alleging copyright infringement. While we made every effort to convince …

Category: Breaking News , Chapter 7 Bankruptcy , Economy , Filing Bankruptcy

Tags: Chapter 7 Bankruptcy Universal Music Group Veoh

Permalink: /chapter_7_bankruptcy/online-video-sharing-company-files-chapter-7-bankruptcy/

Many business owners considering bankruptcy find it difficult to decide whether they should reorganize their debts Chapter 11 bankruptcy or liquidate their debts in a Chapter 7 bankruptcy.  Below are a few questions every business owner should ask before they file Chapter 11 bankruptcy.

Is my business viable?  Oftentimes businesses run into financial problems because they are running on faulty business plans or their …

Category: Bankruptcy , Bankruptcy Q&A , Chapter 11 Bankruptcy , Chapter 7 Bankruptcy , Economy , Filing Bankruptcy

Tags: Business Chapter 11 Bankruptcy Chapter 7 Bankruptcy

Permalink: /chapter_7_bankruptcy/four-questions-you-should-ask-before-filing-chapter-11-bankruptcy/

Penton Business Media Holdings Inc. filed for Chapter 11 bankruptcy protection in hopes that the company can reduce the large amount of debt it incurred when the company bought trade-magazine publisher Penton Media Inc. three years ago.  Penton Business Media came to its bankruptcy decision after it became apparent it may not be able to pay its debts.  Penton Business and Penton Media filed Chapter 11 Bankruptcy with a prepackaged …

Category: Bankruptcy , Breaking News , Chapter 11 Bankruptcy , Economy

Tags: Chapter 11 Bankruptcy company

Permalink: /bankruptcy/penton-business-media-holding-files-chapter-11-bankruptcy/

Chapter 11 bankruptcy has become almost a like a “miracle cure” for companies around the country.  At the onset of the recession and foreclosure crisis, many companies desperately sought the protection of Chapter 11 bankruptcy, went through the bankruptcy process and emerged more stable and more profitable.  But how is it that bankruptcy can help companies turn the proverbial corner …

Category: Bankruptcy , Bankruptcy Q&A , Chapter 11 Bankruptcy , Economy

Tags: Chapter 11 Bankruptcy Debtor

Permalink: /bankruptcy/how-chapter-11-bankruptcy-can-save-good-companies-during-hard-times/

… A major supplier of castings for manhole covers and frames, Neenah Enterprises, Inc., has filed Chapter 11 bankruptcy due to a dramatic plunge in sales revenue.  Neenah’s Chapter 11 bankruptcy filing lists assets of $286.6 million and debt of $449.1 million.

Neenah, based in the Wisconsin town of the same name, reported a $150 million net loss on net sales of $333 million for the fiscal year ended Sept. 30. In fiscal 2008, net sales were $511 million with a net loss of $12 million. …

Category: Bankruptcy , Breaking News , Chapter 11 Bankruptcy

Tags: Business Chapter 11 Bankruptcy

Permalink: /bankruptcy/neenah-enterprises-files-chapter-11-bankruptcy/

Rumors are swirling that Borders Bookstore may need to file for Chapter 11 bankruptcy or even a Chapter 7 bankruptcy if it is not able to make significant changes to its business model that will allow it to compete with electronic rivals.  Of course, Borders has vehemently denied speculations that it will need to seek protection from creditors under Chapter 11 bankruptcy.  But it is Borders’ outstanding senior secured loan of $42.5 million which is …

Category: Bankruptcy , Bankruptcy Q&A , Breaking News , Chapter 11 Bankruptcy

Tags: Business Chapter 11 Bankruptcy

Permalink: /bankruptcy/would-borders-benefit-from-chapter-11-bankruptcy/

… one of the largest domestic off-site airport parking businesses in the United States, has filed Chapter 11 bankruptcy and plans to sell the company after sales were negatively impacted by the battered airline industry.  Parking Co. of America’s Chapter 11 bankruptcy filing listed the company’s assets at $94 million and its debt obligations at $233 million as of September 30, 2009.   Its parent company, PCAA Parent LLC has also filed Chapter 11 bankruptcy.

Parking Co. of …

Category: Bankruptcy , Breaking News , Chapter 11 Bankruptcy

Tags: Bankruptcy Chapter 11 Debt

Permalink: /bankruptcy/parking-co-of-america-files-chapter-11-bankruptcy/

… troubles.  The left leaning radio network, which owned 100 radio outlets nationwide, filed Chapter 7 bankruptcy so that it can be liquidated to repay creditors.

“The very difficult economic environment has had a significant impact on Air America’s business. This past year has seen a ‘perfect storm’ in the media industry generally,” the company said in a statement on its Web site.

Bankruptcy has become a common move for many media companies during this recession.  …

Category: Chapter 7 Bankruptcy

Tags: Air America Chapter 7 Bankruptcy Radio

Permalink: /chapter_7_bankruptcy/air-america-radio-files-chapter-7-bankruptcy/