Bankruptcy Law Articles

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

To Solve Problems with Debtors in the Court Becomes More Difficult in Belarus

The Law of Republic of Belarus of January 10, 2011 No. 241-З “On Introduction of Amendments and Supplements to Certain Codes on the Issues...
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Late Payments in Commercial Transactions - EU

During the ongoing crisis, the private and public sectors are under attack, often unable to react to the destructive power of evolution. Trade...

Should You Have Your New Loan Documents Reviewed by an Attorney?

Have you ever heard the cold hard slap of five points? Maybe next time you don't have to...

Debt Collection - Turkey

Methods of debt collection in turkey, status of foreign legal or personal entities regarding debt collection in Turkish law.

Loss Mitigation, HAMP and Lawsuits: A Recipe for Litigation

Unless you are living in a cave, you know by now that the near collapse of the residential real estate market in 2008 -and the continuing...

Cram Down Your Mortgage in a Single Asset Real Estate Bankruptcy

If you are a natural person, corporation, partnership or limited liability company that owns an income producing parcel of real property and you...

Recent Bankruptcy Court Decision May Illuminate Whether Electricity Will Be Considered a Good

I give the experimentalist’s answer to the very fundamental but very familiar query: “What is electricity?” His answer is naïve, but simple and...

Financing a Purchase When a Conventional Mortgage Is Not an Option

Alternative Financing Methods in a Slow Real Estate Market.

The Order for Payment and the Monitorio Procedures in Spain

Which election is the most suitable to collect a debt in Spain? This articles focuses on the orders for payment procedures and the so-called...

Common Myths Regarding Filing for Bankruptcy

Filing for bankruptcy is often a confusing and difficult topic for consumers – however, it is also an extremely important solution for those who...

How to Enforce a Foreign Judgment in China

  By Amaris Law
A case study on enforcing a German judgment in P.R. China, showing exemplary pitfalls for foreign clients who intend to realize the enforcement...

Real and Personal Property Exemptions in Bankruptcy

One of the first questions that most potential bankrupts have is, “What will happen to my property, if I file for bankruptcy?”

Asset Protection for the More Modest Estate

The author explains how to protect a medium sized estate from bankruptcy without going to the expense of establishing an offshore trust.

What Does a Bankruptcy Trustee Do?

Many people who are contemplating filing bankruptcy ask the question, what exactly is the job of the bankruptcy trustee? Is he my friend or foe?...

Can I Eliminate My Second Mortgage in Bankruptcy?

The current financial crisis, brought on by the collapse of the housing market has more and more people looking for solutions to their "under...

What Is the Chapter 13 Bankruptcy Process in Arizona?

The author explains the legal process of a Chapter 13 petition filing.

Chapter 7 Bankruptcy - Do I Qualify under the "Means Test"?

As a result of perceived abuses in the bankruptcy system, Congress passed the "Bankruptcy Abuse Prevention and Consumer Protection Act of 2005."...

The Life of a Judgment (Lien) in Florida

A recent case decided by the Fifth District Court of Appeals discusses the statutory framework for perfecting and maintaining a judgment lien on...

California and Debt Settlement Scams

Some pitfalls and some recommendations when hiring someone to settle your debts.

Motion to Vacate Dismissal of Bankruptcy Case

In San Francisco, CA, the US Bankruptcy Court, Northern District of CA is located at 235 Pine Street, walking distance from public...

Can I Stop the IRS Seizure of Individual Property?

If you failed to pay your federal taxes, the IRS may seize your property. To find out more about alternatives to an IRS seizure of individual...

Multiple Bankruptcy Filings (Filing More than Once)

If you have already filed for bankruptcy in Maryland, you may be able to file again.

California Fair Debt Collection Practices Act

Debt collectors are heavily regulated by federal and California state laws.

How Does a Chapter 13 Work?

The court expects you to change your lifestyle. With trustee monitoring your financial attitudes, your case can be reopened to enlarge the...

Types of U.S. Foreclosure Proceedings

With the collapse of the real estate market, the word “foreclosure” has unfortunately become an often used word in the English language. This...

Creditors Beware: Consumers Who Know Their Legal Rights!

In the past four years we have become more familiar with the terms: Short Sale, Foreclosure, and Bankruptcy. Creditors have become increasingly...

Steps in Check Bounce Matters in India

Careful reading of the Section 138 of the Negotiable Instruments Act, 1881 provides the steps that is required to be followed with regard to the...

Credit Rating Agencies - Implementation of Regulation (EC) No 1060/2009 - Cyprus

The Cyprus Securities and Exchange Commission (“CYSEC”) has recently issued a circular drawing the attention of persons operating credit rating...

The Next Step in the Foreclosure Mess: Congressional Hearings

With the revelation that many big lenders were "robo-signing" documents - signing them without verifying the accuracy of the information - to...

Watch Out for Loan Modification Scams

The combination of the recession, high unemployment rates and the crash of the housing market has left many homeowners struggling to make their...

363 Sales in Bankruptcy

There are three ways to buy assets from a Chapter 11 estate.

Watch Out Third Floor: The Bankruptcy Trustees Are Lurking

The interplay of divorce law and bankruptcy law has given rise to lots of litigation in the past and will continue to do so in the future.

Opening a Closed Chapter 7 Case to Avoid a Judicial Lien under 11 USC 522(f)(1) and 11 USC 522(f)(2)

If you regularly file bankruptcy cases, or represent clients in real estate closings or refinances, chances are you have been confronted with a...

Be Ever Vigilant: Bankruptcy Practice and the Civil Enforcement Initiative

In October 2001, the United States Trustee Program created and launched its National Civil Enforcement Initiative ("CEI").

The New Bankruptcy Code: Goodbye Consumer Chapter 7 Cases

On April 20, President Bush signed what has been termed the biggest rewrite of U.S. bankruptcy law in a quarter century.

Using Assignments to Liquidate Business

When a business entity faces the need to liquidate its assets and go out of business, an assignment for the benefit of creditors (hereinafter...

Filing Proofs of Claim in Bankruptcy

For a creditor, filing a Proof of Claim in a bankruptcy proceeding is crucial if the creditor desires to be paid. The procedure for filing a...

Dealing with a Large Amount of Debt?

The current economic conditions have led many people to face the issue of debt. There are many factors that contribute to financial...

Protecting Creditors Rights When a Debtor Files a Chapter 7 or Chapter 13 Bankruptcy

In cases where the debtor has filed under Chapter 13, or it has been converted to a Chapter 13 from a Chapter 7 bankruptcy, a debt collection...

Chapter 11 Bankruptcy: What Businesses Can File for Bankruptcy?

The United States Bankruptcy code that deals with Chapter 11 Business Bankruptcy is one of the most complicated statutes in American history....

What Happens to Intellectual Property during Bankruptcy

Many of you would recognize the name CBGB from t-shirts and slogans, all without knowing that the name originated from a legendary music venue...

Company Abandonment and Its Impact on the System of Managerial Liability - Spain

In this article, the author outlines the protections available to creditors of limited liability companies once they have been abandoned, or...

A Short Guide to Pre-Bankruptcy Credit Counseling

If you're confused by some of the changes to bankruptcy law, you're not the only one. One of the new requirements is the completion of a...

Considering a Loan Modification? Consider Bankruptcy Instead

The crash of the housing bubble has left many homeowners in homes that are now not worth what was paid for them. The current economic crisis and...

Enforcement of Bank Guarantees - Spain

What happens if the beneficiary of a bank guarantee or other surety decides to enforce it against a payment default by a debtor who has been...

Using Chapter 13 Bankruptcy To Get Current On A Mortgage

The Bankruptcy Code gives homeowners facing foreclosure the right to cure the default any time up until the foreclosure sale process is...

Garnishing Wages – Debt Collection in Potter County, Mckean County and Tioga County Pennsylvania

In Pennsylvania you cannot garnish wages to collect a debt even after obtaining a judgment against you. The harassment and the false information...

New RESPA Regulations: What Lenders Should Know

The onus for ensuring compliance with the RESPA revisions falls squarely upon lenders.

How Bankruptcy in Michigan Affects Your Credit

Bankruptcy in Michigan will have a negative impact on your credit for several years. The author goes into detail about how your credit will be...

Filing for Chapter 13 Bankruptcy in Maryland

The purpose of a bankruptcy proceeding in Maryland is to alleviate your difficult financial obligations. As soon as you file for bankruptcy in...

How to Stop Wage Garnishments

The author discusses how to stop wage garnishments.

Fear of Filing for Bankruptcy?

The author addresses the fears of filing for Bankruptcy.

The 1111b Election

1111b is a unique feature of a chapter 11 case that invites strategy plays by both debtor and creditors.

The 1934 Chandler Bankruptcy Act

The author discusses the 1934 Chandler Act.

Historical Antecedents of the Bankruptcy Code

The author explains the history prior to the bankruptcy reform act of 1978.

The Bankruptcy Reform Act of 1898

The author explains the 1898 bankruptcy reform act.

The Bankruptcy Reform Act of 1978

The author discusses the bankruptcy reform act preceding that of 2005.

Before You Walk Away from Your Mortgage, Consider This

More and more people are simply packing their bags and walking away from their homes, convinced there’s no better way to deal with underwater...

Short Sales, Foreclosures and Bankruptcy in Tennessee

With the country in the midst of a national housing market crisis, many homeowners have found themselves in the precarious position of owing...

Mitigating Loss When You Have Something to Lose: Deficiency Judgments, Credit Rating and Public Image

The real estate crisis reaches every strata of society, including financially stable individuals and companies. There is no one-size-fits-all...

Florida Supreme Court Expands Remedies Available Against Judgment Debtors Owning Single Member LLCs

This article discusses the Florida Supreme Court's recent holding, in Olmstead v. Federal Trade Commission (SC08-1009), that pursuant to Florida...

Bankruptcy Filings Hit Record Levels

Personal bankruptcies hit a record high last year in Central Florida, and this year's total may be even larger. Rising bankruptcy levels are an...

Debt Settlement Companies: Saviors or Scoundrels

Debt-strapped consumers are being warned by consumer advocates that using debt settlement companies could leave them deeper in debt. The...

Loans of Money in Thailand

The Loan: “A Loan for Consumption is a contract whereby the lender transfers to the borrower the ownership of a certain quantity of property...

A Breakthrough in Turkish Litigation Practice: Proposed Amendments to Notification Law

This article mainly discusses the proposed amendments to the Turkish Notification Law and its harmonization with current telecommunication tools.

Unintended Consequences: Did Bankruptcy Changes Crash the Economy?

A half-dozen years ago, bankers were testifying to Congress about the need for a sweeping reform of bankruptcy law to make it more difficult for...

Thinking of Suing Your Lender?

Litigation Against Lenders and Banks - Is It For You?

Arbitrage en Code de Procédure Civile Morocain

Chapitre VIII: De l'arbitrage, Article 306 Toutes personnes capables peuvent souscrire un compromis d'arbitrage sur les droits dont elles ont...

Debt Collection Practices Are Leading to More Complaints

Lawsuits against debt collectors alleging violations of the Fair Debt Collection Practices Act (FDCPA) are on the rise, with 1,928 court filings...

Be Aware of Your Right to File Chapter 7 Bankruptcy

Bankruptcy is not a topic most people are comfortable with, and few are willing to discuss the issue openly. This lends a haze of mystery to the...

Credit Card Changes Wreaking Havoc

An early victory for the Obama administration in 2009 was the passage of the Credit Card Accountability, Responsibility and Disclosure Act...

I’m Being Evicted. Can Filing for Bankruptcy Help?

If you are being evicted for nonpayment of rent and there has not yet been a court judgment in favor of your lessor/landlord, filing for...

Tax Consequences for Forgiven Debt

As more families refinance their mortgages, are forced into foreclosure or find other ways to cancel their mounting debt, the last thing that...

How Will Canada's New Mortgage Rules Affect Condo Pre-sales?

On February 16, 2010, Canada’s Finance Minister announced changes to federal mortgage rules that will take effect on April 19, 2010. The new...

Predatory Lending Litigation Update

The truth in Lending Act, loan modifications and recently enacted Civil Code §§ 2923.5 and 2923.6.

Deciding between a Debt Collection Agency and a Collection Law Firm

  By HG.org
Both debt collection agency and debt collection law firms perform similar roles by pursuing unpaid debts. Additionally, both are regulated by...

Three Things Your Attorney Should Advise You about Filing a Debt Collection Lawsuit

Attorneys are happy folks. They are happy to file a lawsuit on your behalf. However, you should take a moment and discuss a few things with your...

Credit Card Reform Act of 2009: Does it Help Consumers?

The much anticipated Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 became law on May 22, 2009; however, most of...

Homeowners Underwater in Florida

Brief Overview of Loan Modifications, Short Sales, Bankruptcy and Other Remedies to Avoid Foreclosure. As the mortgage crisis has unfolded...

Due Diligence! Buyer Beware!

This article will briefly discuss the advantages and disadvantages of the two common structures – share purchase or asset purchase arrangements.

Appliance World Goes Bust

Well-known appliance retailer, Appliance World stores in Denver, Colorado have been closed because its parent company, GCF Holdings LLC filed...

Major Security Mechanisms under Turkish Law and the Effect of Bankruptcy

This article mainly discusses the major security mechanisms available under Turkish law and the effect of bankruptcy.

Foreclosure - Don’t Give Up - You Can Fight

Many Americans unfortunately find themselves having difficulty paying their mortgages. When a family falls behind on their mortgage payments,...

Mortgages in Spain

What to look out for if requesting a Spanish Mortgage.

Prison Sentences for Monetary Debts in Turkey

According to Article 38 of the Turkish Constitution (TC) “No one shall be punished for any act, which does not constitute a criminal offence...

An Indispensable Tool in Business Life: Promissory Note - Turkey

This article aims at providing its readers with basic information on the validity conditions of promissory notes under Turkish law and the...

The Pros and Cons of Reverse Mortgages

“Are you short on cash? Do you own your home? Come in today and let us show you how you can make money each month while keeping your house!”

Legal Options Available to Victims of Real Estate Fraud in Ontario

Real estate fraud in Ontario generally includes “mortgage fraud” (e.g. fraudsters acquire a mortgage fraudulently through false information or...

Toronto Real Estate Lawyers: Defaulting on Your Mortgage

Defaulting on your mortgage...dreaded topic if you're going through it...but important to know if you're unaware or considering it...

Guide for New York Company Considering Chapter 11 Bankruptcy / Reorganization

A brief introduction to U.S. bankruptcy law for CEO’s

Bankruptcy Laws in Bahamas

  By Lex Justis
The assertion that the Bahamas laws on bankruptcy may be used as a double edged sword can be derived from section 10 of the Bankruptcy Act 1870,...

Am I Liable for my Husband's Debts?

As a general rule, you are liable for those debts you incur. If you and your spouse have a shared credit card in both of your names, you are...

Liability of Directors for Bankruptcy in Slovakia

In these times of economic crisis, companies may go bankrupt easier than ever. Companies should analyse and manage the risk of bankruptcy and...

Declaration of Bankruptcy: a Definition and Description of the Required Proceedings - Poland

In the Polish legal system both the possibility of declaring bankruptcy both of an entrepreneur as well as a consumer.

Execution Proceedings against a Debtor after Obtaining a Favorable Court Verdict

In which manner shall execution proceedings be commenced against a debtor after obtaining a favorable court verdict?

Winding Down: How to Properly Close your Business

Businesses close for a number of reasons. Sometimes, they close because the founder has suddenly become ill or has passed away, or perhaps...

Reform 3/2009 to the Spanish Insolvency Law

The Royal Decree Law 3/2009 of the 27th of March is a recent reform of the principal Spanish rules relating to insolvencies, i.e. the Insolvency...

Mortgage Foreclosure in France

Should you consider handing over your keys back to the bank?

Modern Designs of Cross-Default Clauses - Germany

Cross-default clauses are part of the customary tools and modules of international banks. Their operational area covers credit agreements with...

Practice & Procedures for Properly Closing a Foreign Invested Company in China

In light of the financial downturn, many foreign invested companies simply are abandoned by their foreign investors. However with recent...


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