Credit Matters After Bankruptcy

The Fair Credit Reporting Act: Damages for Inaccurate Reporting After Bankruptcy By: Michael J. Gartland Every person who has ever been extended credit should obtain a free, annual credit report. These could be obtained from the three consumer reporting agencies (TransUnion, Equifax and Experian). They should check to see if

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Forcing Someone into Bankruptcy: Who Wants to Go First?

By: Laura Day DelCotto The Bankruptcy Code clearly permits creditors to initiate an involuntary bankruptcy filing, and the Official Forms contain the simple paperwork to start the process.  11 U.S.C. §303.  However, the risks of being accused by the putative debtor of a “bad faith” filing are probably better than

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Marriage and Small Business Debt

By: Dean A. Langdon Marriage involves sharing risks and rewards with a spouse. Entrepreneurial couples may establish a business together, or one spouse may establish a business and exclude their spouse due to the risk of economic loss.  After all, between 20-50% of small businesses fail within the first 5

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Creditor Tips for Chapter 7 Bankruptcy

By: Jamie L. Harris If you receive notice that a customer or client has filed for Chapter 7 bankruptcy relief, there are certain things you need to know about the bankruptcy process.  First, you should cease any pre-petition collection efforts.  The automatic stay afforded by the bankruptcy filing stays any

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Tax Workouts

By: Jamie L. Harris If you or your company is dealing with tax debt, getting resolution of the debt can seem overwhelming, especially when penalties and interest are considered.  Typically, whether you are dealing with the state or federal government, payment plans are available.  Sometimes, penalties can be waived as

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Exemption Amounts Increased April 1st 2019

By: Laura Day DelCotto Under the Bankruptcy Code, every 3 years, certain debt limits and the exempt assets limits increase.  This is done to keep up with inflation.  The amounts recently were raised for all cases filed after April 1.  Most of our individual clients ask about what they may

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