When a business files a bankruptcy, under certain circumstances the bankruptcy trustee can assert a preference claim against certain creditors and take back from those creditors money previously paid to the creditor by the debtor. For example, if within 90 days of the...
Law Office of Robert Braverman, LLC
Filing bankruptcy gives you a chance to rebuild your credit
To the average American, filing for bankruptcy may seem like a scorched-earth tactic for handling their debts. People might even compare it to a nuclear attack on their finances, leaving nothing behind. While it is true that bankruptcy has a profound impact on your...
The New Small Business Reorganization Act
The new Small Business Reorganization Act was signed into law by President Donald Trump on August 23, 2019 and goes into effect in February 2020. The changes are long over due. Filing a Chapter 11 bankruptcy for a small business has been problematic because it is more...
Don’t forget to take post Bankruptcy filing Money Management Course
Don't forget to take post filing Money Management Course. A lot of people filing bankruptcy are aware of the need to take a credit counseling course before they can file bankruptcy. Typically it is taken on line or by telephone. However, you should be aware of the...
When do you lose assets as part of a bankruptcy filing?
One of the biggest reasons that people give for avoiding or putting off bankruptcy is the potential for the loss of their major assets. Most people only have a cursory understanding of how bankruptcy works, but the idea that the courts will liquidate certain assets is...
WHERE SHOULD MY BANKRUPTCY BE FILED?
There may be more than one place where you can file your bankruptcy. The statute indicates you can file where you reside, where you are domiciled or where your principal assets are located. Lets say your permanant address is in Willingboro New Jersey. That is where...
HOW MUCH WILL MY CHAPTER 13 BANKRUPTCY PAYMENT BE?
"How much will my Chapter 13 bankruptcy payment be?" is a question I am often asked. While it is a simple question, the answer is not simple since the amount is determined by a number of factors. First, is the Chapter 13 purpose to pay mortgage arrears? If so, the...
The differences between Chapter 7 and Chapter 13 bankruptcy
People find themselves struggling with debt for all kinds of reasons. Maybe they wound up unexpectedly divorced which depleted their financial resources and savings while simultaneously creating an obligation to pay child support. Maybe they got hurt on the job or in...
BANKRUPTCY SALE OF ST CHRISTOPHERS CHILDRENS HOSPITAL
Philadelphia 's Hahnemann Hospital and Saint Christopher's Hospital for Children were part of a health care conglomerate that filed for bankruptcy on July 1, 2019. On September 23, 2019 the bankruptcy court in Wilmington DE approved the sale of Saint Christopher's...
Dealing with a financial emergency when you have a low income
Common recommendations for keeping your finances in good order include budgeting and self-restraint. While this may seem to be wise and good-intentioned advice, it is not of much use to those whose income can barely cover essentials like food and shelter.Many people...

