Articles Tagged with unsecured creditors

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Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

A Chapter 7 bankruptcy that was filed in 2003 has finally ended 15 years later. The Great Northern Paper Co. filed for Chapter 7 bankruptcy in 2003 and Chief Judge Peter Cary of the United States Bankruptcy Court for the District of Maine has ordered that the proceeding be closed within 30 days, according to Bangor Daily News. The trustee submitted a certification that the assets of the estate were accounted for and requested that the court discharge the company from other debts and duties.

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

Those following business headlines have likely seen news of how hard hit brick-and-mortar retailers have been in recent years. Though consumers haven’t stopped spending, it does appear that their habits have changed, with far more dollars flowing through the internet than through traditional retail stores. This has led to a string of bankruptcies in the industry, including Aeropostale, RadioShack and American Apparel (which recently filed for the second time). Analysts say that in the coming month and years other big companies are expected to follow suit.

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

Early this month the U.S. Supreme Court heard arguments on a case that The New York Times reported has the bankruptcy world “on edge” because it could upend the standard practice that ranks lenders, employees and other creditors in order of priority when they try to recover what they are owed after a company files for bankruptcy.

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

Charles Jones may have made his living reselling textbooks, but his resulting bankruptcy case is turning out to be anything but a textbook one.

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

No, the top executives for the bankrupted Sports Authority do not have the authority to give themselves $2.85 million in bonuses, the company’s U.S. bankruptcy judge has ruled.

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Bankruptcy Lawyer Bryan W. Stone answers the question: “Will I lose my property if I file for bankruptcy?”

When Teresa Giudice’s name has appeared in the press for the last half-decade, it has usually not been uplifting press for the former “Real Housewives of New Jersey” star. Bankruptcy fraud convictions, millions owed in debt and a stint in the federal penitentiary have dampened the celebrity she once enjoyed as a reality star, and the hits just keep on coming.

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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.