Articles Tagged with Chapter 13

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my car if I file bankruptcy?”

Knowing whether or not to file for bankruptcy can be a difficult decision. You will likely need to weigh a variety of factors, including your income, future prospects, total assets, total debts and the impact that filing can have on your life, in both the short term and over the long haul. Another question that many people consider is how filing for bankruptcy can impact their ability to operate as usual, including staying in their house and continuing to drive their current vehicles. To learn more about what happens to your car during Chapter 7, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

Many people have heard about and may even be familiar with Chapter 7 and Chapter 13 bankruptcies. These two chapters are used by individuals who are in debt and looking for a way to start fresh, either through liquidation (Chapter 7) or reorganization (Chapter 13). But what about Chapter 11? To find out more about Chapter 11 bankruptcies, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “How do I file for bankruptcy?”

Once you have committed yourself to filing for bankruptcy in order to take control of your debt, it is one of the first questions you must next face: Where should I file? The question becomes necessarily more complex when a company is looking at filing for Chapter 11 bankruptcy; it is inherently more difficult to determine a particular state of residence for corporations and other business models that have assets and conduct business in multiple states. However, where to file for bankruptcy, known in the legal world as “venue,” is also a common conundrum for individual consumers looking to file for Chapter 7 or Chapter 13 bankruptcy.

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

Most people see filing for bankruptcy protection as a chance to start clean and are often excited to finally begin putting their financial troubles behind them. Many people would assume that once the bankruptcy court accepts your petition and puts you on a path towards discharge, the hard work is behind you. Unfortunately, that is not always the case, especially for those filing for Chapter 13 bankruptcy protection.

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

Bankruptcy is stressful for anyone who has ever contemplated it. This is even more the case for those who own and operate businesses. Small business owners have to worry about how their financial struggles and potential insolvency could impact not only their personal assets and financial wellbeing, but also how it could impact their ability to earn an income in the future. Small business owners have the added burden of being responsible for the welfare of their employees, something that can heighten an already stressful ordeal.

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

There have been new developments in the ongoing saga of Curtis James Jackson III’s bankruptcy. Jackson, AKA 50 Cent, filed for bankruptcy last year after revealing that he owed more than $25 million, the vast majority of which is owed to two creditors. The problems began soon thereafter, with the creditors arguing that Jackson was hiding assets and posing for pictures that indicated he was far from broke.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I buy a home after bankruptcy?”

Everyone knows that bankruptcy is a difficult process. One of the many difficult aspects of the bankruptcy process is deciding how to handle some of your personal property and corresponding debts. Vehicles are especially tricky given that you may not be able to afford the payments on the car, but may also fear being unable to make ends meet without it.

Bankruptcy Lawyer Bryan W. Stone answers the question “What is Chapter 11 Bankruptcy?”

In a real-world flip flop that would have probably lost some votes for the fictional role he portrays on television, House of Cards actor Kevin Spacey backed out of plans this week to become Relativity Media’s newest chairman, mere days after declaring via video to the company’s bankruptcy judge that he was excited to take on the position.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is the means test?”

The effect of getting a raise or losing your job after filing for bankruptcy depends on which type of personal bankruptcy you filed, and understanding what action to take is important. The temptation to not get around to reporting modest income increases, for example, can lead to your bankruptcy case getting thrown out of court, full responsibility for all debts and criminal fraud charges.

Bankruptcy Lawyer Bryan Stone answers the question: “Can I keep my house if I file bankruptcy?”

There’s been a recent push by some legislators to further reform the bankruptcy process. The argument is that the system has too many loopholes that can be exploited by those eager to game the system. Though the overwhelming majority of bankruptcy filers are honest and only move forward with seeking bankruptcy protection as a last resort, it is true that occasional bad apples can be used to spoil the bunch. One example of a bad apple is a man from Florida who spent more than a decade using the bankruptcy system to live rent free by continually putting off foreclosure attempts.