Articles Tagged with bankruptcy trustee

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Are my 401k and IRA protected in bankruptcy?”

Normally, arbitration comes up in the context of personal injury cases. A good example is one of the most common instances of arbitration language, which is in nursing home admittance paperwork. The nursing homes include language requiring arbitration, which shields the nursing home from the public, lengthy, expensive and uncertain courtroom litigation process and instead allows them much greater control by requiring all potential plaintiffs to bring their disputes before an arbitrator. This has come under attack in recent years, as many argue that arbitration clauses, especially arbitration clauses that restrict consumers, are unfair.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “I’m owed money by someone that filed bankruptcy. What can I do now?”

Most people understandably assume that if you own a business, whatever it is, you have the ability to seek bankruptcy protection if the need should arise. After all, the bankruptcy code doesn’t allow for judgments on the societal value of the business, all companies are seen as equally able to seek the protection of the bankruptcy system.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

Though many people may not be aware of it, the debt collection industry has exploded in recent years. In the past five to 10 years, creditors have begun selling all their old debt to debt buying firms, usually for two or three cents on the dollar. These firms then use aggressive tactics to pry money from debtors, even in cases where the debts are expired and legal claims can no longer be made to recover the money. The industry has grown to more than $13 billion in size, representing many thousands of claims against many thousands of debtors.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get credit after filing personal bankruptcy?”

When a person files for bankruptcy protection one of the first things he or she must do is submit a list of assets and liabilities. The liabilities are obviously important because these are the debts that the petitioner is trying to get out from under. The assets, at least for the creditors and the bankruptcy trustee, are just as important. It’s the assets that can be sold and used to repay creditors and it’s crucial that the list be accurate and complete. In fact, the law requires debtors to list all assets and any failure to do so, assuming it’s deliberate, can result in serious criminal penalties.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

In one of the more ironic bankruptcy stories of the year, the filing by the parent company for ITT Technical Institutes has devolved into one of the most paper-heavy affairs imaginable.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 13 bankruptcy?”

One year ago this December, the paperwork that had been in use since the 1980s for people and businesses filing for bankruptcy protection was replaced with forms that were supposed to be clearer and easier to understand.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

The bankruptcy process can seem opaque. Few people understand how filing for bankruptcy works and it can be hard to get reliable information from those who do know. This lack of information can have the unfortunate side effect of discouraging people who might otherwise benefit from bankruptcy from pursuing it. In an attempt to help demystify the whole process, let’s explore an aspect of the bankruptcy system that is likely unfamiliar to most people: the bankruptcy trustee.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What are North Carolina’s exemptions?”

In the various stories we discuss on this blog, we frequently include warnings against hiding assets when filing for bankruptcy. One particular case this summer provides an illustration of precisely why doing so can land you in hot water—and prison.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

Bus manufacturer DesignLine infamously relocated to Charlotte, North Carolina in 2006 from New Zealand and it has been a largely uphill drive for the company ever since.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

A federal judge in New Jersey just reminded us of the power the Internal Revenue Service can retain over us all, even in bankruptcy. The judge recently threw out a defunct law firm’s lawsuit that accused the IRS and Treasury Department of illegally trying to collect taxes during a bankruptcy proceeding. Although the person bringing the lawsuit was an attorney, he apparently lacked the sufficient bankruptcy law experience to successfully protest the IRS’s oversteps, highlighting the dense and difficult nature of the bankruptcy process.