November 2020 -

Monthly Archives : November 2020


Chapter 11 Bankruptcy: Solutions for Small Businesses, as well as Big Corporations

A Business Filing for Chapter 11 bankruptcy protection implies that the company is on the verge of bankruptcy, but believes that it can once again become successful if it is given an opportunity to reorganize its assets, debts, and business affairs.

What should you do if you own or operate a business with mounting debts and your creditors have started to demand payments, which you are unable to pay? You can go into denial and let it all drag out, or you can consider negotiating arrangements with each creditor, but both of these options just delay the resolution of your financial problems with no respite in sight. If your business has mounting debts that you are unable to pay back, then Chapter 11 bankruptcy is a great option for you. It will allow you and your business to reorganize and restructure the debt and it will buy you time to save your business or manage an orderly liquidation.

Chapter 11 Bankruptcy Explained: How it Works & Who Can File

Chapter 11 bankruptcy is designed to allow struggling businesses restructure their finances & maximize return to their creditors & owners.

Earlier, only large corporations could afford the costs associated with Chapter 11 bankruptcy. Fortunately, Chapter 11 has evolved, and large and small businesses can use it to stay open. Individuals who don’t qualify for Chapters 7 and 13 can file for too. In this article, you will learn: What is Chapter 11 Bankruptcy, how it works, and who all can file for it.

How to Protect Your Property from Foreclosure: Types of Foreclosure Defenses

  • Posted On November 13, 2020
  • Categorized In News
  • Written By

Are you facing the threat of foreclosure or already going through the proceedings of one? Your best bet would be to consult an experienced foreclosure defense lawyer to find out  your options to save your home.If a foreclosure is upon you, you’ll want to do everything in your power to stop it. This article discusses different types of foreclosure defenses your attorney might recommend. Here is a list of the Most Common Foreclosure Defenses:

Understanding Property Foreclosures: Types of Foreclosures & its Process

A foreclosure is a legal process through which a lender takes control of a property and evicts the homeowner, who is unable to pay the lender back. The property/ home is sold to recover the losses caused by the homeowner as per the stipulations in the mortgage contract. The process begins when a homeowner does not make a mortgage payment. Under normal circumstances, one can miss four mortgage payments before the foreclosure process begins, but this also depends on a number of other factors, such as the lender’s particular policies and the housing market. The defaulting homeowner is first notified by the lender. Depending on which state one is in, the homeowner may get a grace period of three to six months to resolve the payment issue. In case the homeowner is unable to start the payments, the lender can begin to foreclose on the house. In situations such as these, the homeowner has a few options to save their property from foreclosure, using a ‘Foreclosure Defense’. This can help to stall or stop this process altogether. Without a doubt, the best way to go about Foreclosure Defense is by seeking the help of a good foreclosure defense lawyer in Florida, or whichever state you are in. Before we begin to understand the foreclosure defense options, it’s very important to understand what the foreclosure process looks like, and that’s what we’ll discuss further in this article.

Did You Know You Can Be Forced into Bankruptcy?

When you think about bankruptcy, you may think of it as an option.  In most cases, people make the decision to pursue financial relief by hiring an attorney and filing in court.  You may be surprised to know that you can actually be forced to file bankruptcy.  When we say “forced” we do not mean by circumstance, we mean “forced” by creditors or a governing body.  In many of our articles, we explain that bankruptcy is a legal tool intended to protect individuals and businesses from perpetual financial distress.  On the other side of that coin, bankruptcy is intended to protect creditors from perpetual mounting debt.

Wait…My Bankruptcy Can Be Revoked?

You went through the entire bankruptcy process.  You’re on the road to fixing your financial situation and you are informed that your bankruptcy filing has been revoked and the resulting terms nullified.  This can happen.  The debt that is discharged (unsecured debt) can be reinstated and you can be back at “square one”.  This is one of the major reasons you should use a lawyer and make sure all of the information used in the case is accurate.  How can this happen?