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8 May 2020, 2:40 pm
” The estate separates what property is owned by the individual after bankruptcy from what property is to be sold to pay creditors. [read post]
8 May 2020, 2:22 pm
One of the requirements for a successful bankruptcy case is to attend the 341 meeting, also called the meeting of the creditors. [read post]
8 May 2020, 12:10 pm
There are also complex issues to be resolved around the return of capital and distributions to partners (if there is money to be paid out), when a partner is considered a creditor of the firm, how to handle personal guarantees, and to properly navigate the unfinished business rule, among other issues. [read post]
8 May 2020, 12:10 pm
There are also complex issues to be resolved around the return of capital and distributions to partners (if there is money to be paid out), when a partner is considered a creditor of the firm, how to handle personal guarantees, and to properly navigate the unfinished business rule, among other issues. [read post]
8 May 2020, 7:04 am
The factsheet indicates that if a written appraisal or other valuation is developed in connection with an application but not used by the creditor in connection with the application, the creditor still must provide the appraisal or valuation to the applicant. [read post]
7 May 2020, 5:24 pm
We may be able to negotiate a short sale where all the sale proceeds go to the lender, it accepts them in full satisfaction of the loan and you won’t be responsible for the unpaid balance If you have questions about out of court loan workouts or restructuring or simply what to do with your creditors, schedule an appointment and talk to one of our attorneys ===> Click Here to Schedule an Appointment. [read post]
7 May 2020, 3:59 pm
Section 35.04 prohibits debt collectors (which includes first-party service providers collecting on behalf of creditors in the creditor’s name) from initiating telephone calls to the debtor’s residence, cellular phone, or other telephone number provided as a personal number. [read post]
7 May 2020, 11:53 am
Although the terms of the orders varied, they generally authorized the debtors to defer payment of noncritical expenses for approximately 30 days and restricted the ability of creditors to seek relief against the debtors and their assets. [read post]
7 May 2020, 11:28 am
Indeed, the regulation provides that creditors must accurately describe the factors actually considered and scored by the creditor, even if those reasons are not reflected on the current sample forms. [read post]
7 May 2020, 9:35 am
An institution should also have a plan for how it expects to manage its risks and restore capital; 2) DTIs should consider stress testing information (including plausible future adverse scenarios) as part of the capital management decision-making process; and 3) DTIs must ensure that they undertake prudent capital management actions to protect depositors and other creditors while taking reasonable risks. [read post]
7 May 2020, 7:22 am
That’s the challenge that trustees and creditors bring when a debtor wants to keep a property that requires regular additional cash: is the debtor treating his creditors in good faith? [read post]
7 May 2020, 1:48 am
Wills can also be drafted to include protective trusts to ring-fence assets if you have concerns about any of the beneficiaries (e.g. due to the risk of inheritance being lost to creditors or in divorce settlements). [read post]
6 May 2020, 2:51 pm
The proceeds from those sales in then paid to creditors according to the rules as determined in the bankruptcy code. [read post]
6 May 2020, 8:51 am
More on the Paddle8 bankruptcy from Nicholas O'Donnell, including how the New York consignment statute may or may not come into play. [read post]
6 May 2020, 6:01 am
The purpose of forming a multi-member LLC, rather than a single-member or solely-owned LLC, is because a creditor’s exclusive remedy with respect to the LLC … The post Minimum Percentage to Qualify as Multi-Member LLC appeared first on Alper Law. [read post]
6 May 2020, 6:00 am
Any money that remains after paying costs is paid to your creditors pro-rata. [read post]
6 May 2020, 1:29 am
The law ensures that you are allowed to meet the basic necessities of life so your creditors can’t take away what little you have to live on. [read post]
5 May 2020, 3:22 pm
" From the letter: The venue selection options for bankruptcy cases under current law have led to forum shopping abuses that have disenfranchised local employees, creditors, and parties in interest from participation in bankruptcy cases, undermined public confidence in the integrity of the United States Courts and the bankruptcy process, inhibited the development of uniform, national bankruptcy jurisprudence, and led to inefficient allocation of judicial resources. [read post]
5 May 2020, 1:29 pm
And what it all comes down to is this very relevant question: Should you protect your family over your creditors or not? [read post]
5 May 2020, 9:23 am
You can add a spendthrift provision, and this would protect the principal from the beneficiary’s creditors. [read post]
