Why Did Donald Trump’s Businesses Fail? Trump portrays himself as a successful businessman who has a net worth of up to $10 million. He says he could force many of his companies into bankruptcy due to large amounts of debt. Law was used to protect the interests of others Critics have pointed to Donald Trump’s […]
Krystal, a Fast-Food Chain, Has Filed for Chapter 11 Bankruptcy protection Krystal, the nation’s second-oldest fast-food chain, had 4,890 employees at Sunday’s bankruptcy filing. This is despite its efforts to improve its bottom line through the closing of dozens of more restaurants. The Dunwoody-based company, which has restaurants all over the US, blamed rising labor […]
What is Bankruptcy? What are the Different Types and What Are The Consequences? Bankruptcy in the United States is a legal process that is governed by the bankruptcy courts. It assists individuals and businesses in repaying some or all of their debts. Although bankruptcy may be able to help you pay off your debts, it can […]
Bankruptcy and Student Loan Debt In most cases, student debts cannot be discharged in bankruptcy, but there is one exception. Student loan debt will not be discharged (wiped away) in most Chapter 7 or Chapter 13 bankruptcy cases. If you can show that repaying your student loans will cause you undue hardship, you may be […]
Five Most Frequent Forms of Bankruptcy Bankruptcy may be a viable option when you can’t get out from under your debt without jeopardizing your job. Because they are accessible to individuals, Chapter 7 and Chapter 13 bankruptcy are the most frequently filed bankruptcy forms. On the other hand, other kinds of bankruptcy apply to companies, […]
Murray Energy Emerges From Bankruptcy As a New Company CLAIRSVILLE — Murray Energy Corporation has been declared bankrupt and will now be American Consolidated Natural Resources, Inc., the union representing the company’s miners. This announcement was made Wednesday. Cecil Roberts, President of United Mine Workers of America, confirmed that Murray’s assets were transferred to the […]
There Are Four Things You Should Know About Bankruptcy Court If you’ve looked into filing for bankruptcy, you’ve probably come across references to the United States Bankruptcy Court System and/or the United States District Court, and you’re probably wondering what the bankruptcy court does. (1) Definition of Bankruptcy Court All bankruptcy cases filed in the […]
Ann Taylor Parent will Emerge From Bankruptcy as a New Company Ascena Retail Group Inc. will emerge from bankruptcy with a significantly smaller brick-and-mortar fleet and lower debt. Ann Taylor and Loft’s parent company announced Monday that a judge from the United States Bankruptcy Court Eastern District of Virginia approved the disclosure statement. It includes […]
What Are The Indiana Bankruptcy Exemptions? Indiana law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so it’s wise to […]
Illinois State Bankruptcy Exemptions 735 ILCS 5/12-901. Amount Sec. 12-901. Amount. Every individual is entitled to an estate of homestead to the extent in value of $ 15,000 of his or her interest in a farm or lot of land and buildings thereon, a condominium, or personal property, owned or rightly possessed by lease or […]