HG.org Legal Resources

Bankruptcy Law Articles

Articles written by lawyers and expert witnesses worldwide
explaining the different aspects of Bankruptcy.


Misuse of Authority in Company’s Own Bankruptcy Application in Amsterdam

  July 6, 2016     By AMS Advocaten
In a recent case before the Court of Appeal of Amsterdam, a dismissal of a company’s own application for bankruptcy was upheld in appeal. The Court of Appeal found that the authority of a company to apply for its own bankruptcy had been misused. When is there misuse?

Ways to Stop Foreclosure

  June 30, 2016     By HG.org
There are several ways that homeowners can help guard against foreclosure so that they can keep their homes and avoid the negative consequences of this action.

Perfecting Your Security Interest – Requirements for Listing a Debtor’s Name on Florida Article 9 Filings

  June 28, 2016     By Jurado & Farshchian, P.L.
Florida lenders seeking to secure a lien against the personal property of a borrower in default must follow the guidelines detailed in Article 9 of the Uniform Commercial Code (UCC) and Florida’s Article 9, which governs secured transactions and is applied to a wide range of consumer and commercial credit transactions.

Enforcement and Seizure Proceedings in Romania

  June 27, 2016     By Hammond, Minciu and Associates
The Romanian courts do not necessarily operate with the speed and efficiency that may be found in Western Europe or the USA but this should not prevent a practitioner considering the following steps against a Romanian debtor. Consider here both the enforcement of a decision issued by a competent court as well as a seizure order against a debtor’s assets.

Deciding between Chapter 7 and Chapter 13 Bankruptcy

  June 26, 2016     By HG.org
Many individuals who file bankruptcy file under the specific chapter that they qualify for. If they are not eligible for one filing, they explore the other. However, some people fall into multiple eligibilities and determine which bankruptcy filing will better suit their needs.

What Bankruptcy Can and Cannot Do

  June 26, 2016     By HG.org
Millions of underwater debtors including individuals and businesses have turned to bankruptcy for relief. While bankruptcy is a powerful way to shield debtors from further debt collection efforts, it does not solve all financial problems. Additionally, there are different things that bankruptcy can accomplish based on the type of bankruptcy that is filed.

What Not to Do Before Bankruptcy

  June 16, 2016     By HG.org
Bankruptcy laws are often complex in nature and some filers make mistakes before they ever file their petition at the courthouse. Making certain mistakes may have an adverse effect on bankruptcy or even prevent someone from qualifying for bankruptcy. Some mistakes to avoid include:

Three Benefits of Chapter 7 Bankruptcy

  May 24, 2016     By Kotlyarov Law Group
Some of you may be at a point in your life when you are considering bankruptcy. If so, you may be wondering why a Chapter 7 Bankruptcy may be better for you. Some of the advantages to filing a Chapter 7 bankruptcy are as follows:

Defending a Debt Collection Lawsuit

  By HG.org
If a person owes money to a creditor, the creditor or debt collection company may commence a debt collection lawsuit against the debtor. If the creditor secures a judgment, it can then take steps to collect on it through garnishment or attaching a lien on the debtor’s unexempted property. There are often several ways that a debtor can avoid these negative results, including the following:

What Happens in a Debt Collection Lawsuit?

  By HG.org
Debt collection companies are often given a specific protocol to follow when collecting debts. Their owners may set out specific rules for these transactions. Additionally, federal and state laws often impose additional requirements regarding the collection of debt.

What is the Role of a Bankruptcy Attorney?

Bankruptcy is a complex procedure that requires you to make a host of critical decisions from before the time you file straight through to the time your debts are discharged and the bankruptcy procedure concludes. An experienced bankruptcy attorney can guide you through the dizzying maze of decisions, paperwork and procedure that marks a bankruptcy filing, whether it is a chapter 7 or chapter 13.

Cheque Dishonour Law in Bangladesh

In the modern world it is almost unthinkable that a business would operate without the help of a bank, and as such the use of cheques in Bangladesh have been increased in the past decade. Due to the high number of transactions via this mode, the possibility of a cheque being dishonoured is substantially high. As such the receiver of cheques must have adequate and effective legal recourse which they can entertain when they do face this situation.

New CFPB Rules and the Impact on Hard Money Lending

Hard-money lending is becoming more popular in the mortgage industry as real estate investors try to find new ways to take advantage of opportunities quickly by accessing this source of liquid capital. In addition, as interest rates rise, hard money lending becomes a way for investors to close deals faster.

What Is a Loan Modification Lawyer?

  By HG.org
Loan modifications are most commonly made to mortgages, often because homeowners are having difficulty making mortgage payments. A loan modification lawyer restructures an existing contract to modify the repayment terms of a loan.

How to Use a Tax Return after Consolidating Student Loans

  By HG.org
When a person files taxes in which he or she has paid a greater amount of taxes than his or her tax liability requires, he or she can receive a tax return. In some situations, a person may have taken the steps to consolidate student loans and may look for other ways to save. Some possible ways to smartly use these funds include:

Can You Recover from Bankruptcy and Foreclosure

Former homeowners who have been foreclosed on have to go through an entire year of loss after loss. First, they lose their home and have to relocate. Next, they have to figure out how to re-establish credit because they have lost their once good credit rating. Then, as homeowners attempt to put this behind them, they go to the mailbox and receive a 1099. A 1099A or 1099C is issued by the creditor for the abandonment or cancellation of debt.

Recovering Your Romanain Investment

Companies have been formed in the past for many reasons in Romania. Over the past few years the Romanian Trade Registry has endeavoured to clean up the number of Romanian dormant or non-trading companies which had been set up in the first flush of a free trade economy as shown on the register. In many cases the owners have let these companies die as they had no interest in them or their assets.

Bankruptcy in Panama: Legal Considerations

Every declaration of bankruptcy, represent certain effects over the person declared bankrupt. Some of them will generally apply to every person as of the moment of declaration, we will call those general effects, and some others will depend on other facts like the qualification of the bankruptcy.

Avoiding Foreclosure and Eviction without an Attorney in California

Foreclosure is a scary, cumbersome process that often renders homeowners desperate for help, and all too often they call upon unqualified, or unethical, self-proclaimed foreclosure defense attorneys or advocates.

Legislature Planning Changes to Voidance Actions under Insolvency Law in Germany

Insolvency law is about to undergo major changes. The German Federal Government introduced a bill at the end of September amending voidance actions under insolvency law.

What Happens If My Property Is Wrongfully Seized and Sold at Auction?

  By HG.org
In some instances, a party has the right to reclaim property and sell it off at auction. This can be the case in a number of legal actions, including home foreclosures, vehicle repossessions and storage locker auctions. Additionally, this party is often entitled to receive a deficiency judgment for any amount that the former property owner still owes after subtracting the proceeds and costs of the sale.

Correcting Inaccuracies in a Credit Report

  By HG.org
Information that is inaccurate or incomplete in your credit file can result in adversely affecting your credit. Possible results include being denied credit, receiving a higher interest rate or receiving less favorable terms. If you encounter information of this nature, you can take steps necessary to correct this information.

Restructuring and Insolvency in Greece

A Q&A guide to restructuring and insolvency law in Greece.

What Are the Laws Surrounding the Process of Repossession?

  By HG.org
When a borrower falls behind on payments of a secured good, the lender may be able to take steps to repossess this item. This process is commonly followed in contracts for automobiles, but it may be initiated in other cases.

Five Steps to Take if a Victim of Identity Theft

  By HG.org
Unfortunately when someone realizes that he or she is a victim of identity theft, this is usually become some negative result has already happened. A person may have been denied credit for which he or she believed would be a certainty. A letter may come in the mail regarding a debt of which the individual was never aware, or the Internal Revenue Service may send a notice of a large tax debt.

Bankruptcy Law in Wisconsin

What can bankruptcy accomplish for a person who is in debt in Wisconsin?

Bang Bang Here Comes the New Robust Bankruptcy Bill in India….Borrowers Beware

Bankruptcy is a legal proceeding in which you put your money in your pants pocket and give your coat to your creditors.

How Do I Get Out of a Co-Signed Lease?

  By HG.org
When a person cosigns on a loan, he or she is agreeing to be liable for the remaining balance if the original person on the lease fails to fulfill his or her obligations under the loan. If that person does not handle the lease in a responsible manner by making ongoing and timely payments, this can negatively impact the co-signer’s loan.

Cyprus Insolvency Law Landmark Precedent; Winding Up Of Orphanides Public Company Ltd

Employing some 2,000 drivers and packers on the supply end and 1,250 for the company, the supermarket chain was deemed the largest one in Cyprus, once considered too big to fail. Orphanides Public Company Ltd has now been declared insolvent.

What if I Ignore a Florida Credit Card Lawsuit?

After served with a Florida Credit Card lawsuit, depending on the balance alleged by the creditor or debt buyer, the Defendant has to either: File a written response to the lawsuit within 20 days (balance over $5,000), or Attend a small claims pretrial/mediation conference (balance under $5,000).

How Can I Get a Judgment Released?

  By HG.org
A Satisfaction of Judgment or Release and Satisfaction is a legal document that shows that the plaintiff has been paid all that he or she is owed, based upon the original judgment against the defendant. This legal document is important because it is not revocable; once it is signed and filed with the court, it cannot be changed. Judgment debtors are usually in a hurry to get this type of release so that the civil action stops adversely affecting their credit.

Fighting Collection After Judgment

  By HG.org
Losing a lawsuit stinks. Getting slapped with a court judgment will leave you filled with dread and wondering what you can do next. This is especially true if you lack the resources to immediately pay the judgment. So, what can you do after you have been hit with an adverse court ruling?

Sham Lawsuits in the Case of Loan Between Natural Persons in China

As every people can see, China economy is going down. With the tendancy, lending disputes are emerging with large amount. Among these cases are some sham lawsuits which influence judges' discretion.

Debt Collection in Turkey

Under Turkish Law, a creditor is granted the right to collect its receivable in two ways. Firstly, it can initiate litigation procedures by filing an action of debt before local courts. The other way is to initiate executive enforcement proceedings (enforcement proceedings without judgement) before execution offices.

Chapter 13 Bankruptcy

  By HG.org
When individuals have accumulated so much debt that it overwhelms them and they are unable to repay all of their debt according to the original terms of the contract, they may seek bankruptcy relief. Chapter 13 bankruptcy may be one option for them.

Fair Debt Collection Practices Act

A debtor's rights under the Fair Debt Collection Practices Act (15 U.S.C., Section 1692).

Normal Creditors and Secured Creditors in Thai Bankruptcy Law

Bankruptcy in Thailand is governed by the Bankruptcy Act of B.E. 2483 (1940) and allows bankruptcy status for both natural persons and juristic persons.

Defaulted Federal Student Loans and Tax Offsets

  By HG.org
When a person stops making payments on student loans, the Department of Education may take action to collect on this debt. One method is to try to initiate a tax offset to recuperate some of the money owed.

Mareva or Freezing Injunctions in the Cayman Islands

  By Loeb Smith
A mareva or freezing injunction is an interim court order, restraining a party from dealing with, or removing, assets from the jurisdiction. Such an order is normally applied for on an ex parte basis (or without notice to the respondent) in order to avoid the risk of the dissipation of the assets which the injunction is intended to cover.

Mortgage Companies Win in the Supreme Court

Recently, on June 1, 2015, the United States Supreme Court decided the case of Bank of America v. Caulkett.

Cyprus: New Insolvency Framework

The Insolvency Framework comprises of a package of six legislative texts which entered into force on the 07/05/2015, the date of their publication in the Official Journal of the Republic (five laws and a set of regulations). More specifically the following came into force:

Things to Consider when Selling Assets before Filing Bankruptcy

Many debtors try to sell off at least some off their assets in order to have money to pay their creditors and to live but there are risks in selling off assets too. This is because assets are supposed to be used to pay off your creditors and not favor one creditor over another unreasonably.

62% Take 121 Days to Settle Invoices

The Queen’s Speech confirmed a new Conservative Enterprise Bill which, for most SMEs, cannot come into play soon enough! The bill is aimed to help small business in settling late payments and disputes.

What Are the Laws Regarding Check Cashing and Payday Advances?

  By HG.org
Almost everyone has, at one time or another, come up just a little short when they needed to pay a bill or meet some other financial obligation. For many, services like check cashing and payday advances can be one way to deal with this dilemma, but they come with hefty fees and other considerations. So, what are the laws regarding check cashing and payday advances?

Car Repossession Laws

  By HG.org
Most people who own a car rely on it for getting virtually everywhere they need to go. That may include school, church, the store, or to pick up the kids; but for most, it primarily includes work. Thus, when you are late on your car payments, it may seem terribly ironic that the bank wants to deprive you of the means of getting to work to pay them back faster, but that is exactly what could happen.

How Do I Declare Bankruptcy?

  By HG.org
Let's face it, bankruptcy is a scary concept. It entails doing something that will erase portions of your debt, restructure other parts, and appear as a black mark on a credit report for seven to ten years. Still, there may be times when it is wisest to simply throw in the towel and get a fresh start. Thus, when it is necessary to do so, how do you declare bankruptcy?

New York Zombie Foreclosures On the Rise

According to RealtyTrac, there were 16,700 zombie foreclosures in New York in 2014. That number has since risen by 54 percent. These homes are often the houses that bring a neighborhood's value down; the houses with unkempt lawns and boarded-up windows that are easy to ignore and forget.

Wage Garnishment Laws

  By HG.org
If a creditor knows that a debtor is working, one effective method for the creditor to collect on this debt is to have the debtor’s wages garnished. However, there are several laws that apply that can affect the garnishment process.

Alternatives to Foreclosure: Six Options

What are the alternatives to foreclosure? Falling behind on your mortgage payments is extremely stressful. You toss and turn at night, imagining losing your house. But there is hope. Even if you've defaulted on your mortgage, you may be able to find an alternative foreclosure which will allow you to keep your home should you desire to do so.

The Role of the Execution Judge before and after Issuance of the Execution Law in Saudi Arabia

Before, the execution was performed by the King or his representative according to Article (50) of the Main Laws for the issued rule in 1412H, and the stipulations of the 2nd paragraph of the 7th Article of the Regions Law issued in 1412H, and this stipulates that the Prince of each region is to be responsible for execution of the judiciary rules in its final status, and now we conclude that the administrative ruler was the one to execute such judicial rules.

5 Common Debt Buyer Lawsuit Defenses

In addition to each of the defenses available in an original creditor lawsuit, debt buyer lawsuit defenses include standing, limited admissibility of documents, conditions precedent, and additional damages under the FDCPA.

What to Expect at a Florida Small Claims Pretrial

Service of a Small Claims Lawsuit is often a consumers first interaction with the civil court. Here is a quick explanation of what to expect at a Florida Small Claims Pretrial.

5 Common Defenses to a Credit Card Lawsuit

Five Common Defenses to a Credit Card Lawsuit include reviewing consent orders, inconsistencies, contract amendments, counterclaims, and payment plans.

Mortgages After Bankruptcy in New York

Credit card debt. Bills piling up. Filing for bankruptcy. Bankruptcy proceedings. Destroyed credit. Foreclosure. All of these things can take a toll on a person, not just financially, but emotionally and legally. Though some might view bankruptcy as an admission of failure, bankruptcy is actually an opportunity.

New Proposals for Chapter 11 Bankruptcy from the American Business Institute

This year, Chapter 11 bankruptcy is getting an overhaul. These changes are designed to make filing for Chapter 11 bankruptcy easier for businesses.

New Year, New Start: Life After Bankruptcy in New York

Filing for bankruptcy changes your life. As you know if you recently filed for Chapter 7 or Chapter 13 bankruptcy, filing for bankruptcy takes a toll on your credit score, your financial well being, and your emotional health.

How to Collect Debts Owed by a Bankrupt Client

  By HG.org
When business owners hear that a customer is going through the process of bankruptcy, they may start to write off the debt. However, this may cause business owners to lose funds to which they are entitled. By being aware of their rights and following these steps, business owners can protect their bottom line.

What Is the Fair Debt Collection Act?

  By HG.org
The Fair Debt Collection Practices Act was enacted in 1977 in order to curtail abuses by debt collection companies. The act provides protections to consumers against harassing tactics, empty threats, telephone contact and dissemination of credit information by third-party debt collection companies. It also provides remedies to individuals who have had their rights violated regarding these matters.

What Actions Must a Collection Agency Avoid?

  By HG.org
Third-party debt collectors must conform to a certain set of rules that are prescribed by a variety of federal and state laws. The primary consumer protection law that debt collection agencies must adhere to is the Fair Debt Collection Act. However, the state where the debt collection agency operates or the state where the debtor resides may carry additional consumer protection laws with which the agency must also comply.

Hounded By Debt Collectors, What Can I Do?

  By HG.org
Debt happens to almost everyone at some point in their life. When one falls behind on those debts, it is natural to feel embarrassed, under fire, and alone. Many debt collectors take advantage of these feelings to unduly pressure, harass, and embarrass those with delinquent accounts.

Tax Offsets for Defaulted Student Loans

  By HG.org
A federal student loan is one of the most difficult items to escape. Federal student loans are usually not dischargeable in bankruptcy. Furthermore, the federal government can take dramatic steps to ensure that it receives the money that is owed.

Florida Homeowners and Investors Bracing for Next Huge Wave of Mortgage Foreclosures

The next foreclosure epdimic is coming from hundreds of thousands of Home Equity Lines of Credit (HELOC)s that are coming due after their 10 year term.

Malta Preparing for Solvency II Directive

On the 22nd of December, 2014 the MFSA commenced a consultation process on proposed amendments to the Insurance Business Act (Cap. 403 of the Laws of Malta) and the Insurance Intermediaries Act (Cap. 487 of the Laws of Malta).

Inherited IRAs and Creditor Protection

Your IRA is protected from creditors if you have to file bankruptcy, but what happens to that IRA if you die and leave it to a child? Many assumed that the inherited IRA retained that creditor protection in a child’s bankruptcy. The United States Supreme Court ruled otherwise in Clark v. Rameker, 134 S. Ct. 2242 (2014).

What New Bankruptcy Rules Came Into Effect in 2013?

  By HG.org
Nearly every year, the rules of procedure for various types of courts change. Bankruptcy courts are no exception. Bankruptcy courts are governed by the Federal Rules of Bankruptcy Procedure. Often these changes are relatively small and technical, and only of interest to bankruptcy attorneys, but this year the rules changes primarily affect cases filed by individuals. So, what new bankruptcy rules came into effect on December 1, 2013?

Can You Go to Jail for Debt in America? Maybe.

  By HG.org
Anyone who has ever fallen behind on their bills knows just how troubling that experience can be. Harassing phone calls, letters, and emails are the usual tricks of the trade, or for secured debts, repossession or foreclosure. But, America abolished debtors prisons. So, debt collectors are not supposed to be able to put you in jail because you owe money. However, a few have discovered a way to do just that.

What Personal Property is Exempt from Chapter 7 Bankruptcy in Texas?

Chapter 7 Bankruptcy allows debtors to retain all their exempt properties although the ones that are not exempt are typically turned over to the trusties of the chapter. Such pieces of property are usually sold and the proceeds distributed to the creditors. What applies in Texas?

Debt recovery process in Poland

If you have a debtor in Poland you will probably need to face standard debt recover process with your Polish lawyer. Before doing so you may have a look at the stages and court fees that you will have to cover in order to find a way to justice.

Debt Collection Proceedings in Spain under Civil Law and Employment/Labor Law

Although debt collection proceedings in civil and employment labor law in Spain are proceedings with the same purpose they have some differences.

If Your Debtor is a Resident of the Ukraine

Debt collection is a complicated juridical procedure, especially if your debtor is in the other country. Along with the already familiar problems there are some additional aspects (like linguistic barrier, country’s specific legislation). It seems nearly impossible, but it can be solved easily. To solve the problem, a foreign businessman needs Ukrainian lawyers’ help.

Georgia Court of Appeals Decides Against Material Supplier

A recent decision by the Georgia Court of Appeals has given homeowners loop-hole against lien claims as the lien claimant's summary judgment against the homeowner was reversed.

How to File a Mechanics and Materialmen's Lien in Georgia

Contractors and suppliers, whose labor, services, equipment or materials were used to improve real estate, may be entitled to file a claim of lien under the Georgia Mechanics and Materialman's Lien Statute if they are not paid. Navigating this law, however, can be difficult so we have put together this step-by-step guide to help you understand the complexities of Georgia's Lien Laws.

Stuck With Unaffordable Student Loans, Now What?

  By HG.org
Every year, millions of students are convinced to take on student loans with promises of huge salaries upon graduation, but often the reality is a bit different and these same students are left with an enormous debt and little or no means of repayment. Indeed, these debts can last for decades.

Can the Shares of a Cayman Islands Company be Pledged as Security?

  By Loeb Smith
It is not possible to "pledge" registered shares under Cayman Islands law because title to the shares cannot be transferred by physical delivery. Any grant of security over registered shares that is called a "pledge" will typically be either (i) a legal mortgage or (ii) an equitable mortgage/share charge, depending on its terms. If the security purports to be something else, the chances are that it will be entirely ineffective.

Different Types of Bankruptcies in America and the Bankruptcy Abuse Prevention and Consumer Protection Act

  By HG.org
The recent economic downturn put many in a difficult financial position, unable to repay all of their obligations. This has been true for not just individuals, but businesses and cities, as well. When this occurs, the law provides a mechanism for getting out of control debts back under control, either by restructuring debt or wiping out certain types of obligations. This is bankruptcy.

Detroit's Casino Tax Dollars Become Issue in City's Bankruptcy

  By HG.org
Detroit was one of the most heavily hit cities during the recent economic downturn. Although it has started to rebound, based in large part upon federal subsidies provided by the Obama Administration which many credit with saving the American auto industry, the city continues to deal with financial woes as it struggles through the larges Chapter 9 municipal bankruptcy in US history.

Update your Credit Application Procedures Today

The recession has two valuable lessons for credit managers: First, even the best businesses can become significant credit risks, and, second, we have all had more practical experience in extending credit and collecting on past-due receivables. This article focuses on practical tips which credit managers can implement today to reduce the likelihood of nonpayment.

How Can I Get a Bankruptcy Exemption?

  By HG.org
Bankruptcy exemptions can make a dramatic difference in your bankruptcy proceeding whether you are filing Chapter 7 or Chapter 13. While the result for having an exemption is different for each type of bankruptcy filing, both help the consumer keep more – either property or money.

Debt Collection Procedures in Italy - How to Collect a Debt in Italy

A general overview of the legal steps which are usually followed, under Italian law, in respect of debt collection.

How to Calculate the Chapter 13 Bankruptcy Plan Payment

  By HG.org
A debtor proposes a repayment plan that will allow them to repay a portion of their debt. A Chapter 13 bankruptcy plan determines the amount that each creditor can expect, the duration of the plan, the value of the debtor’s property and the funds that are available to repay the debts. Several factors impact the amount of monthly repayments that the debtor will make.

Merger of American Airlines and US Airways After Bankruptcy May Face Anti-Trust Law Issues

  By HG.org
A bankruptcy judge in New York has endorsed a plan to merge American Airlines and US Airways. That approval, however, is contingent upon the outcome of an anti-trust lawsuit filed by the US Department of Justice which asserts that such a merger would deprive the marketplace of choice and competition.

Effects of Bad Credit and Legal Considerations

  By HG.org
Negative credit can have many far reaching consequences. Although you may not realize it, the health of your credit history will determine whether or not you are suitable for all sorts of things, including basic needs like renting an apartment or getting a job.

Six Financial Dos and Don’ts When It Comes to Divorce

Nobody said the divorce process was easy—but know life after divorce is possible. During a divorce, you’ll be faced with several important decisions that will ultimately affect your life both short- and long-term. Keeping your financial security in mind will make all the difference.

Fighting Credit Card Debts in Arizona

  By HG.org
Are you an Arizona resident that has fallen behind on credit card debt? Is the credit card company harassing you with phone calls, letters, or worse, filed a lawsuit against you? If you find yourself in this situation, you have several options, and some are better than others. So what are your options?

Common Questions About Bankruptcy

  By HG.org
Bankruptcy is a legal proceeding that helps some people who cannot pay their bills get a fresh financial start by temporarily, or permanently, preventing creditors from collecting debts from you. Bankruptcy is generally considered the debt management tool of last resort because the results are long-lasting and far-reaching. A bankruptcy stays on your credit report for 10 years, making it difficult to acquire credit, buy a home, get life insurance, or sometimes get a job.

20 Early Warning Signs Indicating Changes in Credit Profile

After a vendor extends credit, it is vital that the vendor continually monitor the debtor for changes in its credit profile in order to minimize the vendor's risk of nonpayment. The following list of 20 early warning indicators, will help you see the risk coming before it happens.

What Kinds of Debts are Discharged in Bankruptcy?

  By HG.org
When we talk about discharging debts in bankruptcy, we are usually referring to a Chapter 7 bankruptcy. Typically, a Chapter 13 bankruptcy involves a restructuring of debt rather than a discharge, or forgiveness of debt. For that reason, for most people the main goal of filing for Chapter 7 bankruptcy is to discharge / wipe out their debts. For example, while there are many other types of debt that Chapter 7 will discharge, credit card debt is one of the most commonly discharged debts.

The Process for Filing an Arizona Bankruptcy

  By HG.org
Bankruptcy can be a complicated process with many technical requirements and provisions. Understanding the basic steps for a bankruptcy in Arizona will help you know how to prepare and what to look out for as you move forward.

Top Mistakes Made in Foreclosures

  By HG.org
Mortgage foreclosure is the process by which the bank takes your home for not paying your loan. It can be a long, difficult, and confusing process for many homeowners, and if you are facing a foreclosure you should contact a local, qualified attorney for advice on how to respond. In the meantime, here are 10 common mistakes people make during a mortgage foreclosure:

What is the Difference Between Chapter 7 and Chapter 13 Bankruptcy?

  By HG.org
When preparing to file for bankruptcy, there are often many things on your mind. How will this affect my credit? Will I be able to pay for this? What will I lose? What will I gain? But one question that many people do not even know to ask is “what is the difference between a Chapter 7 and a Chapter 13 bankruptcy?” The answer can have profound repercussions on your case.

How Do Home Loan Modification Scams Work?

You should be aware that there are many loan modification scams taking place right now in the U.S. These scams target homeowners who are struggling to meet mortgage payments, as predators are taking advantage of especially financially vulnerable people.

Are Foreclosure Rates Beginning to Decrease?

There have been various reports in the media indicating that foreclosure rates have fallen to pre-bubble crisis levels.

Good News for Cayman Domiciled Private Equity Funds - Introduction of New ELP Law

  By Loeb Smith
The Cayman Islands (“Cayman”) continue to be the leading offshore jurisdiction for the establishment of both hedge funds and private equity funds. Typically, private equity funds are structured in Cayman as exempted limited partnerships (“ELPs”) and the introduction of the Exempted Limited Partnership Law, 2014 (the “New ELP Law”), which came into force on 2nd July 2014, will enhance the attractiveness of Cayman as the leading offshore jurisdiction for private equity funds.

5 Things You Need to Know Before Filing for Bankruptcy

In 2013, nearly 40,700 Floridians filed for bankruptcy. An important, life-changing decision, coming to terms with the fact that you need to file could be the light at the end of a seemingly long, debt-filled tunnel—that’s why it’s imperative you get the facts, know your rights and obtain accurate, aggressive representation from a local Tampa Bay area law firm.

New Law Regarding Bankruptcy in Romania

After several attempts including an appeal to the Constitutional Court of Romania the legislators have now adopted a new law regarding insolvency and bankruptcy. The new law is Law no. 85/2014 and was issued in June 2014 coming into force on 28th June 2014.

New Law Concerning Debt Recovery in Albania - "On Late Payments for Contractual and Commercial Obligations”

The Albanian parliament has passed on 24.04.2014 the law no. 48/2014 “On Late Payments for Contractual and Commercial Obligations”, which is partially aligned with the Directive 2011/7/EU of the European Parliament “On Combating Late Payment in Commercial Transactions”.

Divorce and Credit Card Debt – Known and Unknown

More and more couples are racking up excessive amounts of debt. To make matters worse, some debt, especially credit card debt, is hidden from the other spouse. Some blame this phenomenon on the fact that more marriages consist of two-income couples. Each spouse may find it difficult to relinquish control of his or her own money. But when divorce is on the horizon, how is this debt ultimately divided?

Handling Credit Card Debt

Credit Card Debt is something that is becoming a bigger problem as Americans are getting further in debt. One of the ways that you can address your mounting credit card debt is through debt relief via debt settlement. Contact a experienced bankruptcy lawyer or debt relief expert and find out what options are available to you regarding your credit card debt, other outstanding creditors, and methods of available debt relief.

Bankruptcy vs Other Options

When you think about filing bankruptcy you really want to understand all your options. This is the quick overview of bankruptcy vs other other options.

Alphabet Soup for Installment Agreements

What is an installment agreement? An installment agreement is an option for those who cannot pay their entire tax bills by the due date. It allows taxpayers to pay the amount due over a period of time


Contact a Lawyer

Find a Local Lawyer