Men’s Wearhouse owner searches for a new lifeline after bankruptcy exit Tailored Brands Inc., the owner of Men’s Wearhouse, is looking for financial help to keep it afloat in less than three months since it emerged from bankruptcy protection. According to court papers, Tailored Brands “severely underperformed” compared to Chapter 11 reorganization plans projections. As […]
Should I look for a cheap bankruptcy attorney? Many people begin their search for bankruptcy information looking for an inexpensive way to file a cheap bankruptcy. They ask “How can I afford to pay a bankruptcy attorney when I’m already overwhelmed with bills?” Read on to find out the cheapest ways to file bankruptcy and then […]
Top 50 Bankruptcy Questions: Can I file bankruptcy? Can I keep my house and car? How much does it cost to file for bankruptcy? What is chapter 7 bankruptcy? How do I file for bankruptcy? The top 50 questions I received as a bankruptcy attorney are listed below. You can learn the answers to a […]
Filing Bankruptcy The process of filing bankruptcy can be drastically simplified by hiring a local, qualified bankruptcy lawyer. There are many rules related to the federal bankruptcy code that makes trying to file bankruptcy yourself extremely difficult. For example, each state has its own long list of bankruptcy exemptions, and the courtroom meetings can sometimes be difficult […]
You can start applying for new credit immediately after your case is discharged; however, it is likely that you will be required to pay higher interest rates on credit you obtain immediately after a bankruptcy. Although you may be able to obtain a mortgage as soon as one day after a bankruptcy, industry experts recommend […]
Bankruptcy eliminates most, but not all, debts. Many major debts, including credit card debt, medical bills, broken leases, utility bills, repossessions, payday loans, and unsecured failed business debts, can usually be eliminated in bankruptcy. Certain other debts that cannot always be eliminated are criminal debts, some tax debts, student loans, back alimony, child support payments, […]
You cannot receive a discharge in a Chapter 7 case if you received a discharge in either (a) a chapter 7 bankruptcy filed within the last 8 years, or (b) a Chapter 13 bankruptcy filed within the last 6 years. You cannot obtain a discharge in a Chapter 13 case if you either (a) obtain […]
The new bankruptcy laws affect all bankruptcies filed, but recent studies show that approximately 80% of past filers would still qualify to file under the new bankruptcy laws and would be eligible to eliminate substantially the same debts as before. The major changes include the addition of an income-based means test, and credit counseling, and […]
The moment your case is filed with the bankruptcy court, you receive an “automatic stay,” a court order that prevents your creditors from taking any further collection activity against you without prior court permission. The “automatic stay” stops almost all actions that a creditor may have initiated against you before filing for bankruptcy relief, including […]
A record of your bankruptcy filing may remain on your credit report for up to 10 years depending on the credit reporting bureau. Fortunately, your credit report indicates which debts were discharged in your bankruptcy, and reports them as a zero balance and uncollectible by your creditors. A bankruptcy listing on your credit report does […]