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Bankruptcy Archives

Understanding a Secured Creditor's Right to 'Adequate Protection'

debt.jpgA secured creditor is a lender that takes on collateral in exchange for extending credit. If the debtor, for whatever reason, is unable or unwilling to repay their debts to a secured creditor, then the lender can take legal action to obtain the specific asset for which they possess collateral.

What Is a Voidable Preference (Unfair Preference)?

unfair preference.jpgTypically, there are warning signs that indicate that a business will soon file for bankruptcy protection. When creditors begin to see these signs of immense financial distress, they tend to dramatically intensify their collection efforts. Of course, this makes sense. After all, creditors want to try to ensure that they are able to get paid back while there is still money available.

When a Creditor Violates an Automatic Stay

debt-collector.jpgCalifornia businesses that file for bankruptcy protection are generally granted an automatic stay. In simple terms, an automatic stay provides the filing business with temporary relief from debt collections efforts. This includes relief from creditors that are seeking enforcement a judgment, foreclose on a property or the collection of debt in any other manner. Creditors are legally obligated to put all of those collection efforts on temporary hold. This is extremely useful for the filing company as it gives that business some space to devise a workable restructuring plan. However, creditors do not always abide by the automatic stay. If your company has been granted an automatic stay, and a creditor is continuing to take collection action, you need to speak to an experienced San Jose business bankruptcy lawyer immediately. Your company's legal rights are being violated.

Rebuilding credit after bankruptcy by applying for a credit card

You've filed for bankruptcy in California. The last thing you may want to be thinking about right now is accruing more debts. However, if the court approved your petition for a Chapter 13 bankruptcy, it could take up to five years for you to complete the debt repayment plan. During that time, there's a good chance you'll discover you need some sort of credit before your repayment plan is complete.

What a Recent Supreme Court Decision Means for Creditors

creditors-rights.jpgOn May 16th, 2016, the Supreme Court of the United States issued an important opinion in the case of Husky International Electronics, Inc. v. Ritz. While this case may not have received as much media attention as many other high profile cases from that last year, it has critical implications for creditors and debtors. In the decision, the court broadened what debtor actions qualify as 'fraud' in a bankruptcy case. If you are a California creditor and you believe that your interests have been harmed by a bankruptcy debtor's fraud, please contact our experienced San Jose creditors' rights attorneys today for aggressive legal assistance.

The pitfalls of debt

If you have more money going out than you have coming in, you probably won't be able to sustain it for long. After a few months of you paying less than the minimum or skipping payments, your creditors will become impatient. You may begin to receive letters or phone calls warning you of what you already know - you are falling behind.

Bouncing back after small business bankruptcy

It may not feel like it's a good thing, but filing for bankruptcy seemed like your only choice when your business began to fail. You may now be wondering if you should look for a retail job or try running your own business one more time. The truth is that rebuilding a business after bankruptcy is not easy, but it is also not impossible if you are willing to do the work.

Is Bankruptcy the Right Choice?

personal bankruptcy.jpgLife happens. Sometimes we get behind in paying a bill or two. No one is perfect 100 percent of the time. All too easily can we fall into the slippery slope of debt, which for many is becoming increasingly difficult to climb out of. When does a minor slip-up cross over into the realm of impossibilities? When is the right time, if ever, to file for bankruptcy? While missing a payment here and there is forgivable, sometimes due to unforeseen circumstances, catching up is just out of reach and bankruptcy is the only option.

Potential Benefits of Chapter 11 Bankruptcy for Businesses

Chapter 11.jpgChapter 11 bankruptcy is a type of reorganization bankruptcy that is available to both individuals and business entities, although it is predominantly utilized by businesses. It is important to understand some of the ways that businesses can benefit for filing for Chapter 11 bankruptcy protections. For more information or for answers to specific questions regarding your case, call our office today to speak with a San Jose bankruptcy attorney.

Filing Personal Bankruptcy When You Own a Business

bankruptcy.jpgMany business owners that have fallen behind on their financial obligations are concerned as to whether they will be able to file for bankruptcy and keep their business. The answer to this question depends on a variety of factors, including the way in which your business is organized and whether you are personally liable for business debts. The good news for business owners is that, in many instances, they will be able to file for some type of bankruptcy and keep operating their business. If you are considering business bankruptcy, it is important to understand what types of bankruptcy may be available to you.