… more profitable operation. Unfortunately for Pilgrim’s workers, that process may include a post-bankruptcy wave of job losses.

But despite the job losses, Pilgrim’s Pride should probably consider itself lucky to survive because when they first filed Chapter 11 bankruptcy, they were unable to find any major U.S. banks to fund its bankruptcy restructuring. This is why they are now merging with the Brazilian beef processor who purchased a majority share in the company during …

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… once their debt has been discharged and their bankruptcy case closed?  Below are four tips every post bankruptcy debtor should follow if they want to start their fresh start out on the right foot.

Live within your means. Debtors exiting bankruptcy must learn to rely less on debt and more on the real income they earn.  Avoid overextending yourself, create a budget and stick to it.

Save at least 10 percent of your income.  For debtors emerging from bankruptcy, savings will be the key …

Tags: budget post-bankruptcy

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There’s an interesting article in the Huffington Post, which suggests a unique (well not so unique) solution to the foreclosure crisis.

The author said:

“Let’s have a federal bill that states that any bank that took a bailout loan and hasn’t paid it back yet isn’t permitted to foreclose on anybody’s primary residence. In addition, bonuses for senior officers at lending institutions will be reduced by a factor tied to …

Tags: foreclosure Huffington Post Loan Mortgage Real estate

… was Linda Amick, who worked for the company for 24 years, according to an article in the Huffington Post.

The article said:

“It was really a great place to work,” Amick told the Huffington Post. She looked forward to a comfortable retirement on a few acres in a small town 50 miles from Atlanta, Georgia. So much for that: Nortel Networks filed for bankruptcy protection in the U.S. and Canada in January, eliminating Amick’s job. Now, stuck in a home she bought on that …

Tags: Chapter 11 Title 11 United States Code Huffington Post Nortel Networks

You should be able to qualify for a home loan post-bankruptcy, though most lenders require that you wait two years after discharge.

One of the biggest concerns on the minds of those considering filing for bankruptcy is whether they’ll be able to buy the house they’ve dreamed of owning post-bankruptcy.  For many, it seems like an impossibility, but it’s not.  It’s true, though, that most lenders are going to want you to wait …

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… debt.

Another form of protection should you believe your future ex is planning for bankruptcy post-divorce is to have a “hold harmless” or “indemnity” clause included in the divorce decree, requiring your spouse pay certain debts or repay you if a creditor comes after you for that debt.  This way, if your ex-spouse later files for bankruptcy and the credit comes after you for the money, you can ask the bankruptcy judge to enforce the indemnity agreement between you and your …

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According to an article in the Washington Post, a bankruptcy judge approved Michael Vick ’s bankruptcy plan to repay creditors.  Michael Vick’s creditors, who are owed more than $20 million in total, ratified the bankruptcy plan to repay them based on his future earnings and the sale of his assets.

The article said:

“Vick signed a contract with the Eagles that pays him $1.6 million this season, with a team option for next …

Tags: Bankruptcy Credit card Debt Finance Michael Vick United States Washington Post

… bankruptcy due to decreased advertising revenue and a reduced number of people listening.  A full post-bankruptcy recovery may require this broadcaster to renegotiate vendor and employee contracts during bankruptcy and maybe even restructure its business model. And while some broadcasters have chosen to forgo filing Chapter 11 bankruptcy, Regents Communications will hold a cash flow advantage over those competitors after reducing its debt obligations significantly in bankruptcy.

… are interested, the name “checkbook” loan comes from the fact that you will need to fill out a post-dated check in order to get a loan.  Of course that doesn’t change the fact that you will be paying dearly to take out any type of payday loan.

 

Anyway, if you find yourself in a position where you are considering a payday loan, you may want to consider other options.  If you are struggling to get by from month to month, it may be the result of an unmanageable amount of debt.  If …

… still be a struggle a recent study revealed.

Foreclosure Listing Service in Addison analyzed post-bankruptcy cases of homeowners in 60 Texas counties. It found that in 2009, $2.28 billion worth of real estate was affected by a bankruptcy filing, an increase of 26 percent over 2008’s dollar volume of $1.92 billion.

The study reviewed cases in bankruptcy courts in Fort Worth, Dallas, Houston, Sherman, Austin and San Antonio. In 2009, 12,170 properties were affected, the report said, …

Holding rental property when filing bankruptcy can impact your “means test” and your post-bankruptcy fresh start depending on the circumstances surrounding that property.  Let’s take a look at a few scenarios:

If you have a rental property with a paying tenant, the rent received will be counted towards your income.  This fact alone could cause you to “fail” the means test which would mean that you would need to file Chapter 13 bankruptcy instead of …

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 …

Comment by Charlotte Bankruptcy: … Great little blog post – we try to go through this with …