what can you do if you have a smaller business that is owed money by the Chapter 11 business. There are actually a number of steps that you can take to help maximize your recovery
REPRESENTING CREDITORS IN LARGE CHAPTER 11 BANKRUPTCIES
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Cherry Hill Bankruptcy Blog
Who sets the payment amount for a Chapter 13 repayment plan?
Two main factors come into play in determining how much the payments will be. The Debtor’s disposable income and the nonexempt equity in the Debtor’s property.
Is someone eligible to file for bankruptcy after a prior filing?
The length of that waiting period depends on the type of bankruptcy they filed before and the type of bankruptcy they want to file this time.
New Jersey Retail Stores Continue to Close
The pandemic as well as inflation has led to the closing of numerous retail stores in New Jersey.
JOHNSON AND JOHNSON SUBSIDIARY FILES FOR CHAPTER 11 AGAIN
LTL Management LLC, a subsidiary of Johnson and Johnson, filed a Chapter 11 in the United States Bankruptcy Court for the District of New Jersey in Trenton New Jersey on April 4, 2023.
BANKRUPTCY INCOME LIMITS INCREASE ON APRIL 1, 2023
the court wants to see if the person filing bankruptcy has the means to pay something back to the creditors. To do this, the court compares the debtors income to the average income of a family the same size as the debtor that lives in the same state as the debtor
Can Student Loans be Discharged in Bankruptcy?
Can student loans be discharged in Bankruptcy? The answer is sometimes. Different factors come into play such as is the student loan federal or private, is there a hardship, what type of institution the student attended and for what purpose was the money used.
Is a need to file for bankruptcy your fault?
If you find yourself facing overwhelming debt and you’re considering using bankruptcy to get out of it, are you the one who put yourself in this position? Probably not.
FILING AN EMERGENCY BANKRUPTCY PETITION
While filing a bankruptcy generally requires that you provide your attorney a lot of infomation regarding assets, liabilities, income and expenses along with doscuments like paystubs, bank statements and tax returns, and that you complete a credit counseling course that takes approximately one hour, it is still possible to file a Chapter 13 to stop the sheriff sale by filing an emergency (skeleton) petition and schedules.
Increasing Bankruptcy Expense Limits Under the Means Test
Even if your income and expenses, with this add-on, still results in the need to file a chapter 13 and pay something to your creditors, your payments will be less than they would have been
