Articles Tagged with creditors

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

Deciding to file for bankruptcy can be an incredibly hard decision-making process. You’re likely stressed about paying bills, worried by repeated calls from creditors and maybe even embarrassed about the difficult financial situation you find yourself in. Don’t be. Thousands of people file for bankruptcy each and every year and that doesn’t make them bad people, just people who have been dealt a bad hand and find themselves owing more than they’re taking in.

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

Bankruptcy can be a confusing process given the often-technical terms used by creditors and bankruptcy courts. Even understanding what has happened to your debt, whether you need to repay or not, can be difficult to determine in some cases. To find out more about various terms used to describe the status of debt, keep reading.

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

If you are in debt and being hounded by creditors morning, noon and night, you may not know and likely don’t care which are secured and which are unsecured. When you’re dealing with calls and letters demanding payment, you will likely base your decisions on who is yelling the loudest or causing the most commotion. Though this may work pre-bankruptcy, the rules change post-bankruptcy. Officially filing for bankruptcy not only offers the debtor certain protections, but it also offers protection for creditors. To find out more about the difference between secured and unsecured creditors and what this can mean in the context of a bankruptcy case, keep reading.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Do I need an attorney to file bankruptcy?”

A recent bankruptcy law update noted that there has been a rash of cases filed against creditors and credit reporting agencies in Nevada related to the accuracy of some credit reports post bankruptcy. Specifically, the report indicated that more than 50 such claims under the federal Fair Credit Reporting Act (FCRA) have been filed, claiming that the creditors are violating the law by failing to report accurate information.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Can I keep my car if I file bankruptcy?”

If you are considering filing for bankruptcy or have already taken the plunge, it is important to understand that the process does not end with the filing of the paperwork. The paperwork, though important, is only the first step in a journey that ends with the granting of bankruptcy protection. To get to that point you will need to withstand potential challenges from creditors and get the bankruptcy court to agree that you deserve protection.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Will I lose my property if I file for bankruptcy ?”

Clients and potential clients have frequently asked me if there are actions or statements they should be making or taking or refraining from making or taking in their countenanced or pending bankruptcy cases.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Do I need an attorney to file bankruptcy?”

 

Thought your legal bills were high? Copper-mining company Ascaro LLC has litigated its $5 million legal tab with law firm Baker Botts all the way to the United States Supreme Court. The high court will decide if and how much Ascaro has to pay.

Dollar signs Mecklenburg Debt Lawyer Charlotte Chapter 7 AttorneyThe dispute between Ascaro and Baker Botts, at its essence, is about whether Baker Botts can be compensated for defending its own fees.

Bankruptcy courts have the final say on how much advisers called in to work out financial restructuring details in a bankruptcy case get paid. Since the money used to pay advisers could be used to pay creditors, anyone—including debtors and creditors—can challenge fee awards.

Baker Botts represented Ascaro in what the Wall Street Journal called a “contentious Chapter 11 case” that ended with a $6 million judgment against Ascaro for improperly transferring a high-value asset to a parent company shortly before it declared bankruptcy. After the judgment, Ascaro agreed to pay its creditors in full.

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