Those considering bankruptcy protection often wonder what happens to property that is subject to a lien. In some cases, a bankruptcy court may set aside or reduce the lien on the property, allowing more flexibility in bankruptcy process. If individuals (or spouse's filing jointly) wish to keep the property secured by a lien, they can also agree to a reaffirmation plan with secured creditors. A reaffirmation agreement is a promise to continue to pay the amount owed despite the bankruptcy, … [Read more...]
Archives for February 2022
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews
Human Resource Decisions During Chapter 11 Bankruptcy
Given the economic challenges of late, many business owners may consider Chapter 11 bankruptcy protection in order to turn things around financially, restructuring debt and the overall organization of the business so that they can remain open. Soon as they file a petition for bankruptcy, an automatic stay is triggered, providing some needed breathing room from creditor actions while they figure things out. Of course, when a business owner declares Chapter 11 bankruptcy, there are many … [Read more...]
Google Rating
Based on 67 reviews
Facebook Rating
Based on 7 reviews
Yelp Rating
Based on 1 reviews