Category Archives: Bankruptcy

Will My Claim Be Paid in Bankruptcy? Part III – Secured Debts

April 22nd, 2014

In our prior blog posts, we have examined certain types of debt. First we learned about priority debts. Next, we learned about nondischargeable debts. Now we will turn our attention to secured and unsecured debts. The difference between an unsecured […]

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Will My Claim Be Paid in Bankruptcy? Part II – Nondischargeable Debts

April 8th, 2014

As we discussed in the previous blog post “Will My Claim Be Paid in Bankruptcy? Part 1 – Priority Claims,” people or companies file bankruptcy because they can’t pay their debts on time or in full. Most individual and corporate […]

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Debtors’ Prison Abolished

December 17th, 2013

On this day in 1821, Kentucky became the first state to abolish debtors’ prison.  The federal government and other states followed suit over the next several decades, and by the end of the nineteenth century bankruptcy law had replaced debtors’ […]

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Will My Claim Be Paid in Bankruptcy? Part 1 – Priority Claims

December 13th, 2013

Part 1 — Priority Claims People file bankruptcy because they can’t pay their debts. When a bankruptcy debtor doesn’t have enough money to pay all of its creditors in full, the Bankruptcy Code provides that certain types of claims will […]

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Chapter 7, Chapter 13, Chapter 11 Bankruptcy – What’s the Difference?

September 26th, 2013

Filing bankruptcy can provide a “fresh start” to individuals, married couples, or companies struggling with insurmountable debt or harassing creditors. The Bankruptcy Code provides different relief depending on the debtor’s situation, but most cases are filed under Chapter 7, Chapter […]

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Can Public Workers’ Pensions Survive Municipal Bankruptcy?

August 7th, 2013

A federal judge ruled in April that the city of Stockton, CA, was legally eligible to enter Chapter 9 bankruptcy after they had filed in late 2012.  This case raises questions that are also present in Detroit’s bankruptcy, especially the […]

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