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Bankruptcy
Your customer or borrower has been paying like clockwork and you, the creditor or vendor, have been dispensing goods and services as promised. Then your customer starts to pay a little later, then later still. Why not? Times are tough. So you do the decent thing and take their payments without complaining. Next thing you...
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What happens when the property taxes of a Chapter 13 Debtor, protected by the Automatic Stay, are sold at auction? Here the Bankruptcy Court for the Northern District of Illinois, Eastern Division, had to decide whether a Chapter 13 Plan of Reorganization affects the deadline for the Debtor to redeem sold taxes. The answer is,...
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Small business remains the backbone of the most vibrant economy in the world. America leads in innovation and hard work thanks in large part to small businesses and their owners. But in lean times, business owners need to know they have options. This post is about those options.
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The Automatic Stay in Bankruptcy prevents creditors from taking action against debtors so they can get a fresh start without fighting the same battles over again. This post looks at how the Stay works in practice.
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Don't forget to secure a Legal Audit to ensure compliance with applicable laws, regulations, and industry best-practices. How? That's easy: contact M. Hedayat & Associates, P.C. for your Free Legal Audit. With over 18 years of legal experience under his belt, a string of start up companies to his credit, and an MBA in addition...
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You can find yourself in serious debt anytime. Reasons range from the interest rate on your ARM loan to unemployment, the state of the housing market, failed ventures, even natural disasters. If you're confronted by out of control debt, sudden illness, or job loss; could the resulting budget chaos threaten your home or nudge you...
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How does a company with $69.8 million in assets and only $9.2 million in liabilities end up filing for Chapter 11 bankruptcy protection? The answer is crime doesn’t pay, especially when you get caught hiring a hit man to make someone “stop breathing.” An Offer A Creditor Can’t Refuse…Unless Someone’s Wearing a Wire. Daniel Dvorkin,...
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Unemployment is stubbornly high. The recovery has nearly stalled. People's savings are low. The housing market's so-called rebound has been uneven. Since June 2011 almost a million and a half people have sought bankruptcy protection. The number of filers keeps growing (so much for the salutary effect of BAPCPA). Is there hope?
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Did the Chapter11 Debtor in Possession wait too long to disqualify opposing counsel based on a "conflict?" Looks like Judge Schmetterer thought so. You've been warned.
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