This followed a report last year from the Florida Center for Fiscal Policy and Economic Policy that called on legislators to evaluate whether these economic incentives were actually creating jobs. The public policy group argued that the state “provides huge benefits to selected companies each year, many of which receive little or no examination of their value to Florida’s economy.” At least $4 billion in both tax breaks and handouts have been given each year to businesses in Florida in the past couple of years, the group reported.
Source: fcir.org
Video: Bankruptcy Questions : Can I File for Bankruptcy for Free?
Bankruptcy Protection: Retirement Protection Is a Common Question Among Many Considering Filing Bankruptcy
Lastly, one of the most common fears, and questions, That people want to know When they are seriously considering filing bankruptcy is, will I lose my retirement if I file for bankruptcy? Basically, like all bankruptcy questions, this must be discussed with a knowledgeable bankruptcy attorney who can look at the individual’s financial situation and Determine the possible outcomes. Generally speaking, the answer to Whether or not an individual will lose Their retirement benefits if they choose to file bankruptcy is Most Likely they will not. The reason being is That’s IRA, 401 (k), 401 (b), and actually most other retirement plans are exempt from being taken by Creditors or the bankruptcy court under federal law, state law, or both. For an individual’s retirement plan to be Considered exempt it has to be a qualified retirement plan, for that Matter Which, most retirement plans are qualified plans. There is the matter That different states have different Exemptions That must be applied and there may be some Followed and exceptions to the rule.
Source: blogspot.com
Basic Questions and Answers on Chapter 11 Bankruptcy (Small Business Reorganization) (Part 1)
3. Are there any financial or insolvency requirements for filing under Chapter 11? No. There are no financial or insolvency requirements for filing a voluntary Chapter 11 case other than the good faith requirement that the case be filed primarily for purposes of reorganization. A voluntary Chapter 11 debtor may be solvent or insolvent, its assets may exceed its liabilities by any amount (or vice versa), and its income may be substantial or nonexistent. The only financial restriction is the practical one of whether the cost of the case to the debtor is justified by the intended benefit. A voluntary Chapter 11 case is a Chapter 11 case filed by the debtor. An involuntary Chapter 11 case is a Chapter 11 case filed against the debtor by its creditors.
Source: argylepub.com
The Bankruptcy Hearing: The “Meeting of Creditors” or “341 Hearing”
In a Chapter 13 bankruptcy, the trustee is charged with administration of your proposed Chapter 13 payment plan. The trustee must ensure that you dedicate all of your disposable income to your repayment plan. So, the trustee will be most interested in your income and expenses and various aspects of your proposed plan. The trustee must consider whether you appear financially able to make the proposed payments and whether your payments should be larger than you have proposed. During the hearing, the trustee will typically talk with you and your attorney about potential problems with your proposed payment plan in an effort to resolve those problems prior to the confirmation hearing, which is the next step in a Chapter 13 case.
Source: hemphill-attorney.com
DOE questions Solyndra bankruptcy plan — Business — Bangor Daily News — BDN Maine
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Source: bangordailynews.com
Minnesota Bankruptcy Questions & Answers With Attorney Aaron Hall
The most common mistake I see people make when their debts exceed $100,000 is to engage in fraud. That is, they do little lies in an attempt to solve their cash flow problem, but these little lies often have major consequences (such as preventing discharge in bankruptcy). Other mistakes are borrowing from family to pay off debts, which merely shifts the debts from creditors you care nothing about to creditors you value deeply.
Source: minnesotaattorney.com
Can I Change Attorneys During Bankruptcy
To answer your question, yes, it is legally possible to switch attorneys mid stream; it’s not cheap, but it can be done. Nothing prevents you from firing your attorney and trying to hire another, you are not forever tied to the attorney you hired. However, most attorneys will resist the prospect of jumping into an active bankruptcy. When an attorney appears in the already filed case, that attorney becomes responsible for that case and the work of the other attorney. Granted, the bankruptcy court will usually allow the new attorney to “fix” the case, but from the attorneys perspective, it is high risk (and therefore, the cost to do it is much higher).
Source: mpslawoffices.com
Answers to Your Questions About Student Loans, Part 2
Your best option is to call Citibank and try to work out an affordable payment plan. If you can’t do that, then unfortunately you don’t have many choices. As for fairness, I suggest you read the comments that accompanied my story on Sunday about student loan defaults. While many readers believed that the student loan system was broken and in need of reform, at least an equal number had little sympathy for borrowers who were struggling to pay off their loans. Sure, the banks got a bailout, but the idea of bailing out citizens — whether for mortgages or student loans — is deeply unpopular and unlikely to happen in any major way.
Source: nytimes.com
DOE questions Solyndra bankruptcy plan
DOVER, Del. — Lawyers for the federal government say Solyndra LLC needs to provide more information in its reorganization plan about tax breaks that could be worth hundreds of millions of dollars to private equity funds that control the failed solar power company.
Source: thedailyrecord.com
Frequently Asked Bankruptcy Questions
There are many misconceptions and confusion regarding bankruptcy. Furthermore, many future debtors have basic questions regarding the bankruptcy system and process. These questions are often similar or identical from person to person. Most of these questions grow out of misinformation and a lack of knowledge of bankruptcy, which is a deceptively complex body of law.
Source: about.com
5 Bankruptcy Questions To Ask Your Attorney Just before Filing
When you uncover the attorney, you can satisfy your self completely by asking him the appropriate concerns. A short conversation can tell you a lot about the attorney you have selected. You can ask him about his expertise and his working and consultation hours. Immediately after conversation, you can evaluate the attorney to see if that lawyer is truly appropriate for you or not!
Source: traffic-secrets.org