According to BusinessWeek, a trustee seeks to increase as much as possible the value of a bankruptcy estate by selling assets at high prices that will benefit creditors. Trustees earn commission from selling property, as well as earning a percentage of filing fees. The National Association of Bankruptcy Trustees reports that in a year, approximately 1,000 Chapter 7 trustees oversee over 1 million cases. In most of those cases, people file for bankruptcy with no personal assets possession.
Source: getareferral.com
Video: File Chapter 7 Bankruptcy Online
NFCC Financial Education Blog
Online Bankruptcy Education is a pre-discharge bankruptcy counseling session that is required for all consumers who have filed for bankruptcy, and who have received a bankruptcy case number. You must complete either a face-to-face session, telephone session, or online session within 45 days of your “341 Meeting of Creditors” (hearing). The counseling session will help the individual understand: Budget Development, Money Management, Wise Use of Credit, Consumer Protection Laws, and Consumer Resources. A Pre-Discharge Bankruptcy Education Class, which differs from Pre-Filing Bankruptcy Counseling, is designed to help the consumer in regards to future money management and financial accountability. It will give the individual objectives to help empower them with effectively managing their money in the future and to not repeat previous financial mistakes.
Source: nfcc.org
Creditors benefiting from online auctions in bankruptcy sales
When an individual speaks to an attorney about filing for bankruptcy, one of the first questions asked is, “What can I keep?” Most Chapter 7 personal bankruptcies filed in the United States do not involve any assets. Real or personal property that a debtor may own is usually not subject to asset forfeiture because of a state or federal property exemption that prevents the bankruptcy trustee from selling it. When nonexempt assets exist in either a consumer bankruptcy or a business bankruptcy, it is the job of the trustee to sell them to repay some of the debt owed to creditors. Trustees have discovered a new tool to help them to maximize the amount they recover on the sale of nonexempt homes and personal property. Online auctions have grown in popularity among bankruptcy trustees in the past six years. Trustees and others who are involved in asset forfeiture have discovered that the expenses are lower online than for live auctions, and the amounts paid by online bidders tend to be higher. The U.S. Marshals held an online auction in which a jacket owned by convicted con man Bernard Madoff and valued at $700 sold with a winning bid of more than $14,000.
Source: arkansasbankruptcylawblog.com
The Many Benefits of Online Bankruptcy Counseling (Pre
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Source: advantageccs.org
With $4.4M in new funding, PLUM TV relaunches as an online and offline TV network for the “mass affluent”
PLUM’s original content currently consists of three programs, “Yoga with a View” with Hilaria Thomas aka Mrs. Alec Baldwin, video “Architectural Digest”-like “Special Spaces,” and adventure travel show “Keeping up with Ramona” with model Ramona Bruland. Each episode is set in a swanky, upscale setting like the Hamptons or Aspen, and the programs have proven popular already. A single episode of Thomas’ Yoga program has accumulated more than 250,000 views on YouTube in a matter of weeks. In addition, the network has signed partnerships to distribute content from cooking site TastingTable.
Source: pandodaily.com
"Rich Dad, Poor Dad" Author Files for Bankruptcy for His Company
(NEW YORK) — Robert Kiyosaki, author of the book, Rich Dad, Poor Dad filed for corporate bankruptcy through one of his companies, Rich Global LLC. Kiyosaki first published Rich Dad, Poor Dad in the 1990s, eventually becoming a New York Times best-seller despite criticism of his personal finance tips, such as his emphasis on real estate investing. He went on to write a number of follow-up books such as Retire Young, Retire Rich, and Midas Touch, co-authored with real estate mogul and television personality Donald Trump. Rich Global LLC filed for Chapter 7 bankruptcy protection on Aug. 20 in a Wyoming bankruptcy court, the New York Post reported this week. Kiyosaki and his bankruptcy attorney did not immediately respond to requests for comment. The company had been weighed down by a lawsuit filed by Learning Annex, one of Kiyosaki’s earliest backers who had helped arrange his public speaking events earlier on, Forbes reported. Bill Zanker, the founder and president of Learning Annex, sued Kiyosaki after he allegedly failed to pay a percentage of profits from his speaking engagements. A district judge in New York awarded Learning Annex $23.7 million. “I took Kiyosaki’s brand and made it bigger,” Zanker told the New York Post. “The deal was I would get a percentage, and he reneged. We had a signed letter of intent. The Learning Annex is the greatest promoter. We put his Rich Dad brand on a stage. We truly prepared him for great fame and riches. But when it was time for him to pay up, he said ‘no.’ ” However, Kiyosaki isn’t taking after his poor dad’s title just yet. Though Rich Global LLC has filed for bankruptcy, he reportedly conducts business through a number of corporations, including Rich Dad Co. Mike Sullivan, CEO of Kiyosaki’s Rich Dad Co., told the Post, “The dealings we had with Learning Annex were with a company that hasn’t been in business for a number of years…I am not surprised Learning Annex is upset and angry, the money doesn’t exist in that company, and we can’t bring money out of the group. “Robert and [wife] Kim are not paying out of personal assets. We have a few million dollars in this company, but not 16 or 20. I can’t do anything about a $20 million judgment…We got hit for what we think is a completely outlandish figure,” he continued. Rich Global LLC’s liabilities are nearly $26 million with assets of $1.8 million, according to its bankruptcy filing. Its biggest creditor is the Learning Annex due to its $23.7 million legal claim. The meeting of creditors was held on Sept. 26 and the deadline for creditors to file claims is Jan. 2., according to the Executive Office for U.S. Trustees. Copyright 2012 ABC News Radio
Source: abcnewsradioonline.com
Bankruptcy Tips Advice: You Can File For Bankruptcy Online
These days, even bankruptcy attorneys prefer to file on-line for the sake of expediency and profit. In the event that you choose to file on-line without legal representation, you will be utilizing the services of an on-line bankruptcy forms processor. Such processors can be very helpful to your efforts at on-line bankruptcy filing. They will suggest the proper type of bankruptcy filing for your situation, based upon the provision of your specific case information, and supply the proper forms for you to detail. Upon submission of these forms, they will review your documentation and confirm that all is in order. If any changes are necessary or additional information needed they will make sure to advise you.
Source: blogspot.com
Ideas online: Bankruptcy Attorneys
Please click on this link phoenix bankruptcy lawyers to learn more about this. Hope it help you more. Please inform about this to all your friends. Let them get benefited. Always be sure to read the complete and updated bankruptcy laws in your state as it will be useful in all the way. Visit the site to learn more about this. Are you looking for any kind of assistance in this? This is the right site which provides their best for all their customers. Get the best advise and tips from Phoenix Bankruptcy Attorneys now. So use this opportunity and enjoy. Visit the site and submit your information to get a fresh start.
Source: midwaymotelviroqua.com
After Bankruptcy Auto Financing Online
Those who earlier suffered bankruptcy can also consider after bankruptcy auto financing because there is a host of lenders who specialize in offering car loans after bankruptcy. But, it is a known fact that obtaining a car loan after bankruptcy is difficult because lenders normally do not rely on those who earlier defaulted on their loan payments as such borrowers are likely to do the same with respect to a new auto loan. Therefore, lenders mostly charge higher rates from applicants who filed for bankruptcy earlier. In order to get the best possible rates for bankruptcy auto loan, one should follow few expert eligibility guidelines and learn after bankruptcy auto financing which is within his means. Borrowers who are in need of after bankruptcy auto financing must document sufficient earnings to qualify for a loan. In fact, for some lenders, there is requirement of minimum income. Borrower will require providing lender latest pay stubs, proof of his employment stability, etc. for his verification. One should also take care of his borrowing and repaying habits after bankruptcy because lender will try to know the way he has managed his financial obligations and if there is improvement in his credit score after a period of bankruptcy. Those who have this question in their mind, after bankruptcy auto financing, must start looking for different ways with which they can improve their credit history. Good credit history could increase possibilities of acquiring affordable rates and instant approval. Besides, such applicants may also require making a huge amount of down payment or providing security to creditor in the form of a pledged asset (collateral). Most of the financial institutions or creditors also require borrower to bring in cosigner, someone who backs car loan and is considered liable for necessary auto loan payments in the event of borrower’s default. Lenders also check credit history and income status of cosigner before granting an approval. Thus, though it is not easy and simple to get after bankruptcy auto financing, if one is well-versed thoroughly with eligibility criteria of lenders providing auto loans with bankruptcy, he could improve his possibilities of driving an affordable deal. But, for this, he must also conduct comprehensive online research on the subject. Getting Approved For After Bankruptcy Auto Financing The reason why borrower should search online is that he will get to know about many after bankruptcy auto financing programs that he can compare to find the best offer. However, the process of comparing different offers and finding the most appropriate one could be rigorous at times; a professional assistance is therefore necessary. Carloan2 is U.S. based leading auto finance service provider that offers professional assistance to those buyers who are finding it difficult to get car loans due to bad credit history or bankruptcy record. It will help one to match him with a dealer or lender who can provide him finance at manageable rates. Besides, its experts are familiar with stringent approval requirements of such lenders and can guide borrower through application as well as approval process. If you want to know if after bankruptcy auto financing, visit http://www.carloan2.com/bankruptcy-car-loan.php
Source: sbwire.com
Bankruptcy filings on the decline
S outh Sound bankruptcy filings fell during the first six months of the year from the year-ago period, a sign that the economy continues to slowly improve, according to data compiled by the U.S. Bankruptcy Court for the Western District of Washington. Thurston County bankruptcy filings through June fell 18 percent to 585 from 713 in the same period last year. In Pierce County, filings fell 13 percent to 2,205 from 2,535, the data show. The slower pace of filings, at least in Thurston County, reverses a recent trend in which filings had been on the rise. Bankruptcy filings in the county rose 4.25 percent in 2011 over 2010, while filings shot up 37.6 percent from 2008 to 2009, the data show.
Source: theolympian.com
How Do I File for Bankruptcy with an Online Legal Services Site?
Price: Oddly enough, filing for bankruptcy is expensive. Filing for Chapter 7 can cost you between $800 and $2500 just for attorney’s fees depending on the state, and that’s not counting the filing fee, which is usually around $300. LegalZoom’s prices are in the same ballpark, but they save you the trouble of looking for a lawyer yourself, and the up-front pricing is good peace of mind. Rocket Lawyer will actually help you find a local lawyer and give you a 40% discount on their services, but you have to sign up for their monthly-fee service, which is $19.95/month. (Although, you can cancel after one month.)
Source: nextadvisor.com
Online TV Venture Mio.TV Files for Bankruptcy
Sources close to the failed company told Hispanic TV Update that the entire management team has been dismantled, including Mio.TV co-founders Manuel García-Duran and Moses Frenck. As of mid October, vendors and former employees were awaiting to get paid from the liquidation of assets. Still, court-appointed bankruptcy lawyer, Alfred Giuliano, says the extent of such assets is not yet clear. Among other high-profile executives the company had lured were Jenny Alonzo, former Lifetime Networks marketing executive, and BET’s sales chief Steve Goldstein. Steve Lord, a partner at Broadmoor Capital, confirmed Mio.TV’s bankruptcy but declined to elaborate on why his company decided to liquidate it. "It is very unfortunate," Lord said. "We thought it was a good idea, but [the company] was just not operational." Broadmoor Capital was only one of many investors which at some point or another bet on the future of the company. A first round of investors included Talbert Navia, head of the private funds group at Chadbourne & Parke, and Carlos Conde, a principal at Olympus Securities.
Source: multichannel.com
Australian Bankruptcy Law & Practice: new commentary on “sham” transactions
ASIC Cases Commentaries Content Update Currency databases Database Spotlight deep linking enhancement enhancements FAQ’s Feedback FirstPoint Journals Legal Online National Workplace Relations New New Chapter New Features new release online Online Commentaries Optimize The Hon Michael Kirby AC CMG The Laws of Australia tla TLA updates Update Westlaw AU Workplace Relations
Source: com.au
How Long After Bankruptcy Can You Buy Car
Not many people may know how long after bankruptcy can you buy a car. While it is possible to finance a car even while the bankruptcy proceedings are in action, the task could involve a lot of hassles. But normally, lenders could be willing to offer auto loans to bankruptcy filers only if they have been completely discharged for their debts. On the internet, there may be few loan dealers that specialize in providing car loans to applicants who have filed for bankruptcies in the past. One may find such lenders and find out if they can receive any financial help from them for purchasing a vehicle. Nevertheless, the rates of interests that are likely to be provided could be substantially higher than those provided on other conventional car loans. But still there could be ways through which interest rates can be lowered on auto loans despite past bankruptcy.
Source: seekingalpha.com