Many, many types of debts are discharged when an individual files Chapter 7 bankruptcy. The most common type of debts discharged in bankruptcy are credit card debts, medical debts, lawsuit debts, and department store debts. These debts are discharged and those creditors are not allowed to harass the person filing bankruptcy. The bankruptcy discharge prohibits […]
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Filing bankruptcy is a last resort for most people. People in debt try to avoid bankruptcy by “tightening their belts” to reduce monthly expenses so the debts can be repaid over a period of time. Other people try increasing monthly income by working overtime or a second job. Some sell their jewelry, cars, or other […]
Read MoreThe Bankruptcy Code provides six basic types of bankruptcy cases. Each type of bankruptcy case is codified in a distinct “chapter” of the Bankruptcy Code. 11 U.S.C. § 101 et seq. Each type of bankruptcy case is identified by the Bankruptcy Code “chapter” number that contains the substantive bankruptcy law applicable to that respective type of […]
Read MoreTo qualify for relief under Chapter 7 of the Bankruptcy Code, the debtor may be an individual, a partnership, or a corporation or other business entity. 11 U.S.C. § 101(41) & 11 U.S.C. § 109(b). According to attorney Robert Schaller, bankruptcy relief is available under Chapter 7 regardless of the amount of the debtor’s debts or […]
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Attorney Robert Schaller Supports Increasing Amount of Bankruptcy Exemption for Vehicles in Florida.
Recently the Florida legislature passed a bill increasing the bankruptcy exemption allowed for Floridians with equity in their vehicles. The proposed bill would have increased the vehicle exemption in bankruptcy from $1,000 to $5,000. However, Gov. Ron DeSantis vetoed that bill. So Floridians are currently stuck at $1,000 for a vehicle bankruptcy exemption. Will that […]
Read MoreTennis legend Boris Becker was jailed for 2.5 years after being found guilty of charges relating to his 2017 bankruptcy, according to Eyewitness News, https://ewn.co.za/2022/04/29/boris-becker-jailed-by-british-court-over-bankruptcy. Becker allegedly transferred significant money from his business account while concealing shares in a tech firm and property in Germany. You can send an email to the author, Robert Schaller, […]
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The National Law Review published an article titled “10 Retailers to Watch for a Bankruptcy Filing in 2022.” Click here to read the article. AMC is first on its list. Has streaming killed the movie theater company?
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Investopedia published an interesting report on bankruptcy rates by race. Bankruptcy lawyers can improve their targeted marketing by better understanding bankruptcy demographics. Click here to read Investopedia’s article titled “Bankruptcy Rates by Race.”
Read MoreSparkchronicles.com is reporting that a wave of bankruptcies is brewing with almost 20% of companies expressing serious concerns. For more information, read the article by clicking here.
Read MoreBloomberg Law identified the three skills bankruptcy associates need to stand out. The first skills is a general knowledge about accounting and finance. The second skill is project management. The third skill is oral advocacy. To read the full article click the link.
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