article thumbnail

Should you tell your creditors you are filing for bankruptcy?

Roths Child Law

One of the challenging topics when filing for bankruptcy is whether or not to tell creditors. Should you inform your creditors about your plan to file for bankruptcy, or is it a bad idea? Your objective of notifying creditors about your plan can help you determine if doing so can be beneficial or not.

article thumbnail

Attorney Facing FDCPA Class Action for Allegedly Attempting to Collect on Judgments for Bankrupt Creditor

Account Recovery

The lawsuit, filed in the Southern District of New York, targets the defendant, a debt collection attorney accused of continuing to collect on judgments against former students of the Technical Career Institute (TCI) despite TCI having filed for Chapter 7 bankruptcy. The background: Technical Career Institutes, Inc. Learn more.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

FTX creditors will make money on bankruptcy: $1.19 for every dollar

Collection Industry News

Almost all of the creditors of failed crypto company FTX will end up profiting from the money they put into the exchange, a federal bankruptcy judge ruled Monday. Ray, who also shepherded Enron through bankruptcy, added that the estate is working to finalize arrangements to make distributions to creditors around the world.

article thumbnail

How to Stop Creditor Harassment

Debt Free Colorado

Know How to Stop Creditor Harassment & Wage Garnishment Debt can be a heavy burden. You may be considering Chapter 7 bankruptcy. Consulting with a Chapter 7 bankruptcy attorney in Boulder, CO, can help determine if it is the right solution. Our blog will provide a general overview of Chapter 7 bankruptcy.

article thumbnail

When Will a Bankruptcy Fall Off My Credit?

Credit Corp

A bankruptcy can remain on your credit report for up to ten years from the filing date of Chapter 7 bankruptcy or up to seven years from the filing date of Chapter 13 bankruptcy. While bankruptcy may be a last resort, there are times where filing bankruptcy might make sense.

article thumbnail

How does the automatic stay protect creditors and debtors?

Roths Child Law

Filing for bankruptcy is a significant decision that can be simultaneously stressful and a source of relief for those who choose this path. When someone files for bankruptcy, an essential provision called the automatic stay comes into play. This turn of events is fundamental to the bankruptcy process.

Debtor 96
article thumbnail

Florida Bankruptcy Court Sanctions Debt Buyer for Seeking to Collect Debt that Consumer Failed to Schedule in Bankruptcy Case

Troutman Sanders

The debt purchaser in In re McIntosh argued that because it was enforcing a debt that was not listed correctly on the debtor’s bankruptcy schedules, it was entitled to assume the debt had not been discharged. As background, in 2002, the debtor and her then-spouse jointly filed a “no asset” Chapter 7 bankruptcy petition.