Category Archives: Bankruptcy Law

Bankruptcy law news articles, reiews, notes and blog examples.

(Video) Statutory Presumptions of Fraud Under The Bankruptcy Code

We have blogged on this topic before. The general consensus in the Bankruptcy Code favors discharging unsecured debt. However, there are reasons why creditors can object to you discharging a debt with them and they are contained in Section 523 of the Bankruptcy Code. Generally, a creditor has the burden of proving that the debt owed to them is not dischargeable, say under Section 523(a)(4) of the code for fraud... To continue reading this legal news please click Read full information...

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Are You Liable for the Debts of Your Spouse or Future Spouse?

One of the most frequent questions consumer lawyers get is the extent of liability that a spouse has for the debts that are incurred by the other. Sometimes spouses are worried about being responsible for debts incurred by the other spouse during the marriage, and other times people may ask whether they will become liable for these debts if they marry someone who is already in debt. The short answer is that in Florida, you are only responsible for those debts you sign to or agree to pay back; getting married does not automatically turn your future spouse’s debt into yours. Even once you are married, you are not automatically liable for debts incurred by your spouse in his or her name only. General rules apply depending on the type of debt: Credit Cards/Retail Debt You are not liable to pay back debts incurred by your spouse on his or her retail or credit account, and you can’t be sued on them. Only if you opened the account as a cosigner, guarantor or account holder….. To continue reading this legal news please click Read full information...

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Wheres Your Foreclosed Mortgage Going Now?

The Federal Reserve has offered banks another $200 billion in US currency in exchange for debt that includes mortgage securities, and includes subprime mortgage loans that they hold. Essentially, experts explain, the Fed is using the available funds to encourage confidence in these securities among investors. But should investors be buying bad debt, not to mention the Federal Reserve throwing $200 billion in US funds at these nearly worthless mortgages?.. To continue reading this legal news please click Read full information...

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Amending Bankruptcy Forms

The best ways handle Amending Bankruptcy Forms in Tacoma Amending bankruptcy forms is usually necessary if you discover a mistake in your bankruptcy forms, petition, schedules, or other paperwork, you can fix it easily by filing an amended version of the form. The bankruptcy rules enable filers to amend their forms any time prior to they receive a final discharge. Filing an Amended Bankruptcy Form in Tacoma To remedy an error on a form, you’ll need a blank copy of the form. You will also need to find out if the Tacoma bankruptcy court has a local form you should utilize to file an amendment. Some courts enable you to complete only the portion of the form that was inaccurate, leaving the rest blank (other than for your name, case number, and other identifying info). As soon as you’ve finished the amended form in the manner recommended by your court, you’ll check the “Check if this is an amended filing,” box in the upper right-hand corner or you may….. To continue reading this legal news please click Read full information...

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What Happens If a Business Partner Declares Bankruptcy?

Running a business is full of challenges. If you run a business – which is probably the case since you’re reading this – it’s very likely that you’re familiar with just how challenging it can be. Things can be going great – operations are running smoothly, you’re reaching all of your financial goals – and you can still run into problems outside the realm of your control. For example, you could be going through your business’ mail one day and come across a bankruptcy notice from one of your main suppliers. What does this mean for your business? Will you still be able to do business with this supplier? Are there steps you need to take to avoid financial loss? When dealing with a business partner’s bankruptcy, several factors determine your available options. If they are filing for Chapter 11 bankruptcy, then their business remains in control of its possessions and assets. That also means the business could be staying….. To continue reading this legal news please click Read full information...

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