Posts Tagged ‘Preparing for Bankruptcy’

My Spouse Died During Bankruptcy, Will I Lose The Life Insurance Payout?

If you are filing a joint bankruptcy with your spouse and your spouse dies during the bankruptcy process, this could impact your case in several ways. One of the most important consequences of the death of a filing spouse during bankruptcy is that the life insurance benefit payout cannot become part of the bankruptcy estate.  For example, if you and your spouse filed bankruptcy in January 15, 2010 and your spouse passed …

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Category: Bankruptcy , bankruptcy law

Tags: Bankruptcy Insurance policy Life insurance Texas

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Should Pamela Anderson File Bankruptcy?

Pamela Anderson has disputed rumors that she is considering bankruptcy.  But should the former Baywatch star file bankruptcy given the multiple liens placed o her property? According to several reports, Pamela Anderson is facing liens from various construction companies for unpaid bills totaling nearly $1 million and a bill for $252,360 for unpaid California state taxes. But despite the reports, Anderson says that she is far from filing bankruptcy : …

Comment author: Should Pamela Anderson File Bankruptcy? | Reed's Bankruptcy Blog iSilverlight

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Category: Bankruptcy

Tags: Bankruptcy Celebrity Pamela Anderson Real estate Taxes

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Texas State-Specific: Bankruptcy and Divorce

… can often be a big factor when people are making the tough decision whether or not to file for bankruptcy.  Sometimes, divorce is the cause of the financial hardship leading the individual toward bankruptcy.  Other times, individuals need to know what the requirements are when it comes to divorce settlement proceedings if you already know you’re going to file for bankruptcy.  A recent case here in Texas demonstrates that failing to disclose your intention to file for bankruptcy

Comment by Jacob Decker: … especially in bankruptcy. Do yourself a favor and …

Category: DFW Metro Bankruptcy , Divorce and Bankruptcy , Economy

Tags: Bankruptcy Divorce Law Lawyers and Law Firms Texas

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Pilgrim’s Pride’s Post Bankruptcy Moves Include Texas Job Losses

… jobs and streamline processes, Pilgrim’s Pride which was purchased by JBS USA during Chapter 11 bankruptcy, implemented 230 corporate and administrative job losses, including 160 job losses in East Texas.

“We operate a lean corporate structure,” said spokesman Chandler Keys. “One of the main goals is to make sure we don’t have layers of bureaucracy.”

While more job losses aren’t currently planned, Keys did not rule out additional job losses in the future.  As part of …

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Category: Bankruptcy , Chapter 11 Bankruptcy , Unemployment - Job Loss

Tags: Bankruptcy Job Loss Pilgrim's Pride

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What Is The Process Of Chapter 7 Bankruptcy?

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 …

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Category: Chapter 7 Bankruptcy , Dallas Bankruptcy

Tags: Bankruptcy Attorney Bankruptcy Court Creditors

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House Rules Committe Agrees to Consider Bankruptcy Modification Amendment Today!

Call your representatives now! We need your help! See below for contact information.

The House Rules Committee just minutes ago agreed to allow the bankruptcy modification amendment to be considered on the House floor as an amendment to the broader financial services reform bill AS EARLY AS THIS AFTERNOON!!

H.R. 4173 being offered by Reps. Conyers, Turner, Lofgren, Marshall and others  will help financially distressed families avoid foreclosure. …

Comment author: House Rules Committe Agrees to Consider Bankruptcy Modification … Leading just to Me

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Tags: Bankruptcy Community Action Financial services foreclosure Mortgage United States House Committee on Rules

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Girls Gone Wild Owner Facing Bankruptcy?

Girls Gone Wild owner Joe Francis, may be facing bankruptcy after the IRS placed a lien against him for $34 million and seized his bank accounts worth approximately $100 million.  The IRS claims that Joe Francis has failed to pay taxes for 2001, 2002 and 2003; but the Girls Gone Wild owner claims that he owes the IRS nothing.  The tax lien came just weeks after Francis agreed to a plea deal to escape jail in his federal tax evasion case. …

Comment author: Girls Gone Wild Owner Facing Bankruptcy? | Reed's Bankruptcy Blog Compare on me

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Category: Bankruptcy

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What Can I Keep Under 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

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General Growth Continues Chapter 11 Bankruptcy Process

… the second-largest U.S. mall owner, recently won court approval to reorganize $500 million in debt for two shopping centers, adding to its $11.6 billion in property-level debt that has been reorganized in Chapter 11 bankruptcy.

U.S. Bankruptcy Judge Allan Gropper approved reorganization plans for Stonestown Galleria in San Francisco and Mall of Louisiana in Baton Rouge, Louisiana. Company lawyer Anup Sathy says General Growth is left with six remaining property-level loans worth $2.8 …

Category: Bankruptcy , Breaking News , Chapter 11 Bankruptcy

Tags: Business Chapter 11 Bankruptcy

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Unlisted Debt Comes Back To Haunt Bankruptcy Debtor

In the bankruptcy case of Mammola, Robert J.; In re, 20 the bankruptcy debtor failed to list a creditor who later filed a lawsuit against the debtor.  After attempting to reopen the bankruptcy case so that the omitted creditor could be included in the discharge, the bankruptcy court denied the debtor’s request.

The details of the bankruptcy case:

The debtor filed for Chapter 11 relief in …

Category: After Bankruptcy , Bankruptcy , Chapter 7 Bankruptcy , Debt Collectors , bankruptcy law

Tags: Chapter 7 Bankruptcy Debtor

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Pilgrim’s Pride Prepares For Bankruptcy Exit

Pilgrim’s Pride which filed for bankruptcy last December with $2.72 billion in debt is preparing to exit bankruptcy.  The nation’s largest chick processer has secured $1.65 billion in proposed financing and is planning to ask a bankruptcy judge for approval of their plan to exit bankruptcy next week.  However, the plan faces the challenges from the U.S. Department of Agriculture.

In its objection the government …

Category: Chapter 11 Bankruptcy

Tags: Bankruptcy Pilgrim’s Pride

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Four Things You Should Know About Bankruptcy And Death

If a debtor dies during bankruptcy, the bankruptcy case does not automatically end. Remember, those debts are still owed and creditors could come after assets of the deceased debtor without a bankruptcy discharge. For example, if the debtor owned property, assets or cash, they could go after those assets with the approval of the court. Only the automatic stay of bankruptcy prevents creditors …

Comment by Jay S. Fleischman: … dies during the bankruptcy case then someone must be …

Category: Bankruptcy

Tags: Bankruptcy Chapter 13 chapter 7 Death

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