Bankruptcy Alternatives: What Is a Receivership?

Receivership is a legal process in which a receiver appointed by a court, creditor, or another authorized party takes control of a troubled company’s operations and assets. The receiver restructures the company and manages its assets and liabilities. In some cases, assets may be liquidated to improve financial flow. The goal is to help the company avoid bankruptcy and return to a profitable state. Receivership may Read More

How a Bankruptcy Will Impact Your Credit Score

Many people are so worried about the impact of a bankruptcy filing on their credit score that they put off seeing an attorney until a wage garnishment order comes in or they find their bank account frozen and no means of paying the rent. Their concern is understandable. With so many lifestyle decisions, such as housing, access to a motor vehicle, and even some jobs relying on a good credit score, people will struggle Read More

Understanding Garnishments

Garnishments occur when you miss a number of payments to a creditor and they take you to court, obtain a judgment against you, and collect the amount they are owed by having it diverted from your paycheck or withdrawn from your bank account. In some cases, such as when you owe child support, the creditor can force garnishment without a court order. It’s a stressful experience but not an uncommon one: according to Read More

Why You Should Hire a Board-Certified Bankruptcy Attorney

There are times when you want to work with a specialist. If you were having brain surgery, your doctor would be a neurosurgeon. When you’re filing for bankruptcy to begin anew financially, you deserve the experienced guidance of a board-certified bankruptcy attorney. What Does Board-Certified Mean? The American Board of Certification (ABC) is an organization that strives to heighten the quality of the Read More

Working with Lenders: How Bankruptcy Affects Your Ability to Receive Loans

Bankruptcy is designed to help you deal with an overwhelming amount of debt by eliminating some or all of it or allowing you to repay a portion of it over time. While it can protect you from creditor actions like collections, lawsuits, and even foreclosure, bankruptcy has a downside that you should also consider. Bankruptcy Stays on Your Report for Years A Chapter 7 bankruptcy stays on your credit report for up Read More

How Chapter 12 Bankruptcy Can Help Farmers

Oklahoma farmers play an important role in providing the community with fresh dairy, meat, and grain products, but many of them struggle with debt after a financially debilitating period. If this happens to you, bankruptcy can help. Chapter 12 is a comparatively new form of bankruptcy designed to help family farmers and fishermen reorganize and repay their debts. It is a debt relief option for single or married Read More

An Introduction to Chapter 9 Bankruptcy

Chapter 9 is a form of bankruptcy that protects insolvent municipalities from creditor actions by allowing them to reorganize their debts, extend the repayment timeline, reduce principal or interest on existing debts, or refinance. The Bankruptcy Code defines ‘municipalities’ as government entities such as: Cities Townships Counties Municipal utilities School districts Taxing districts Of all Read More

Servicemembers: How the Civil Relief Act Can Help You Save Your Home

The Servicemembers Civil Relief Act performs an invaluable service by providing a series of financial safeguards for active-duty members of the U.S. military and their families. The Act, which is an expanded update of the Soldiers’ and Sailors’ Civil Relief Act passed in 1940, covers fiscal and civil obligations such as: Credit card debt Mortgage payments Apartment and rental home leases By protecting Read More

What You Need to Know About the Fair Debt Collection Practices Act

The Consumer Financial Protection Bureau has often commented that it receives more consumer complaints about debt collectors than any other industry. People claim that these collectors call them at all hours, threaten them with everything from wage garnishment to physical assault, and call their friends, family, and co-workers to expose them as “deadbeats.” In some cases, the debts in question do not even belong to Read More

A Brief Overview of the Bankruptcy Appeals Process

Bankruptcy court orders are similar to those issued in trial courts in that they can be appealed if you disagree with the outcome. There are, however, important differences between bankruptcy appeals and those carried out in the courts. For example: Only certain orders may be appealed. Appeals may be made to different courts. There are different procedural rules that apply. What Orders May Be Read More

B David Sisson


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