Pendergraft & Simon, L.L.P. Legal Blog
Can creditors stop you from discharging their debt in bankruptcy?
If your finances have reached the point where filing for bankruptcy seems like a good solution, then you likely have more obligations to pay each month than you have the income to cover them. This kind of financial situation can lead to aggressive collection activity, creditor lawsuits, repossession efforts and even foreclosure on your home….
What is a 363 sale in business bankruptcy?
The bankruptcy court may need to liquidate some assets when a business initiates bankruptcy proceedings. Any proceeds from the sale of those items go to cover some of the company’s debts. The bankruptcy court refers to the sale of these assets as a “363 sale” in reference to the similarly numbered section of the U.S. Bankruptcy…
Should debt be limited? Can young people avoid going into debt with more regulations?
Some estimates show that a quarter of people between the ages of 18 and 34 have at least $30,000 in debt. Approximately one out of every 10 owes over $100,000. This may include all kinds of debt, such as student loans, credit card debt, car loans and more. These statistics show that younger people often find…