By: Dean A. Langdon Chapter 13 bankruptcy (in or outside of Kentucky) is meant to offer debtors the opportunity to keep property they might lose in a Chapter 7 bankruptcy by paying their creditors over 3 to 5 years. The trade-off is turning over all “projected...
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Overview of debtor-in-possession financing in Chapter 11
A consumer in Lexington, Kentucky, can choose from several types of bankruptcy when he or she feels he or she can no longer manage his or her debt. Bankruptcy allows consumers to discharge certain types of secured debt. A common option for businesses owners and...
Recent Bankruptcy Filings for Senior Living: What’s Next
By: Laura Day DelCotto I noticed this week that there were two recent senior living-related chapter 11 bankruptcy filings. One in New York and the other in Delaware. This could be one looming example of types of nation-wide fall outs from industry-wide COVID changes....
A New Ruling on Dismissing a Chapter 13 Bankruptcy Case
By: Dean Langdon Chapter 13 bankruptcy is often used by individuals to stop a foreclosure sale of their home and give them a chance to catch up the past due payments. Sometimes debtors abuse the bankruptcy process by filing Chapter 13 to stop a sale, then dismiss...