Bankruptcy is a legal process that allows someone unable to repay their debts to eliminate or discharge those debts. While there are many parts of bankruptcy that are beneficial, such as the automatic stay that stops collection activity, for most people, the discharge...
Month: October 2020
Pandemic Leading to Business Bankruptcies of Companies Large and Small
The pandemic has had a devastating impact on a number of businesses large and small. Some have been forced to file Chapter 7 and close their doors forever. Some have filed Chapter 11 in an effort to reorganize. Certain industries have been hit harder than others....
McDowell Law PC Bankruptcy Case Issue Before Supreme Court In October 2020
Daniel Reinganum, Esquire an attorney at McDowell Law, PC in Maple Shade New Jersey argued in bankruptcy court that when a debtor files for bankruptcy after their vehicle has been repossessed but before it has been resold, the creditor must return the vehicle without...
Can creditors stop the discharge of a debt during bankruptcy?
Although bankruptcy is a system intended to protect individuals and businesses from financial hardship, the law also includes many protections for financial institutions and those owed money by people seeking a discharge.