Fraser

JUNE 25, 2020

Whenever a business or individual receives a notice from a United States Bankruptcy Court indicating that a business they have had dealings with has filed a chapter 11 bankruptcy petition, the clock starts ticking, and they should be aware of the following timeline, and key events and milestones that may affect their rights.

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Sawin & Shea

NOVEMBER 15, 2023

Put simply, Chapter 7 is a liquidation while Chapter 13 is about reorganization. In the case of a Chapter 7 bankruptcy , the court appoints a trustee who is in charge of selling off (liquidating) a debtor’s non-exempt assets. This is what is called a “surrender” under bankruptcy law.

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Debt Free Colorado

MARCH 3, 2023

There are officially six separate categories of bankruptcy , each designated after a specific section of federal bankruptcy law. However, Chapter 7 and Chapter 13 bankruptcy are the two types of bankruptcy that are most frequently filed. What Should I Consider Before Filing for Bankruptcy?

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Sawin & Shea

JANUARY 25, 2022

However, if you file for bankruptcy, it can put a pause on debt collection, including actions by secured creditors. How your debt is handled in bankruptcy will depend on which type you file. With unsecured debt, there is no lien or security interest agreed upon.

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Debt RR

DECEMBER 13, 2019

Many businesses are both debtors and creditors. Some major retailers filed for Chapter 11 bankruptcy in 2019, including Beauty Brands, Innovative Mattress Solutions, Things Remembered, Z Gallerie, Kona Grill, Perkins & Marie Callender’s, Sugarfina, Forever 21, and Barneys New York. Secured Creditors.

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Collection Industry News

DECEMBER 21, 2020

Pre-COVID-19, consumers were required to appear in person for section 341 meetings where they were examined under oath by bankruptcy trustees and creditors. Under the CBRA, consumer debtors will still be examined at 341 meetings, but those meetings can be conducted remotely. Debtors’ Attorneys Paid over Time.

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