Tag Archives: bankruptcy law
Will My Claim Be Paid in Bankruptcy? Part III – Secured Debts
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 […]
Read More...Will My Claim Be Paid in Bankruptcy? Part II – Nondischargeable Debts
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 […]
Read More...Debtors’ Prison Abolished
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’ […]
Read More...Will My Claim Be Paid in Bankruptcy? Part 1 – Priority Claims
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 […]
Read More...Chapter 7, Chapter 13, Chapter 11 Bankruptcy – What’s the Difference?
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 […]
Read More...Can Public Workers’ Pensions Survive Municipal Bankruptcy?
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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