In a Chapter 7 bankruptcy, trustees play an important role in administering the assets for the benefit of creditors. They enjoy certain powers to recover assets on the bankruptcy estate’s behalf. Duties include early examination of debtors to identify assets...
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Month: August 2017
Is Chapter 11 bankruptcy the right choice for your business?
It is not easy to own, operate and sustain a small business. The expenses associated with start-up and day-to-day operations may outpace your ability to manage these costs, and this could lead to financial trouble. Many businesses just shut down when they reach a...
Dropouts and student loan debt
Much of the ongoing discussion on the student loan crisis revolves around college graduates struggling to find work in their chosen field. The dream of starting the job they spent four years preparing for becomes a harsh reality of unemployment. Some find themselves...
IRAs may not be as safe from bankruptcy exemptions as you think
When debtors file bankruptcy, they feel safe that their IRA and other retirement accounts are protected from creditors seizing their assets. However, that “hands-off” rule is based on specific circumstances. Different types of creditors have different...
A tax lien may knock you down. It doesn’t have to knock you out.
As Floyd Mayweather prepares for his fight with Conor McGregor, he can count one victory even before he enters the ring against the UFC star. The IRS has released the WBA (Super), WBC, The Ring, and lineal welterweight champ’s $3.3 million dollar tax lien. What...
A third of all Americans still have debt in collections
Much has been made lately about the state of the economy, how more people are back to work and unemployment claims are down. Despite this good news, it appears that the number of consumers with past due debt in collections is still a problem. According to a 2014 study...