Designer Bride was founded in 2009 to offer designer gowns at “unbeatable value,” according to its LinkedIn profile. The retailer partnered with designers who are no stranger to the red carpet: Angel Sanchez, whose designs have been donned by such celebrities as Salma Hayek and Beyonce; Valvo, who has dressed Vanessa Williams and Kate Winslet; and Meister, whose fans include Sofia Vergara and Dr. Jill Biden. And when Lilly Pulitzer, the longtime purveyor of pink and Palm Beach-worthy shift dresses, wanted to launch a wedding collection, she turned to Designer Bride.
Source: wsj.com
Video: Law Videos – Bankruptcy Law – Chapter 1
Bankruptcy and Foreclosure
The are two nominees for the open Senate seat in my state this election; the first we’ll call the “Challenger”, and the second the “Opposition”. Through the mudslinging and accusations that are typical with a political race, two important facts have emerged. The Challenger filed bankruptcy in 1976 wiping out nearly $1 million in debt and the Opposition fell into foreclosure some years ago. The Challenger today is a successful business woman that has a net worth of 100′s of millions of dollars and the Opposition was able to reinstate his mortgage and refinanced out of the defaulted loan that he had.
Source: bankruptcylawnetwork.com
Tax responsibility when my spouse filed Chapter 13 bankruptcy
If you did not also file bankruptcy, the answer to your question is no. Taxes that you jointly owe may be collected from either one of you and his bankruptcy only protects him from collection action while the bankruptcy automatic stay is in effect; it does not protect you.
Source: findlaw.com
Filing Chapter Seven Bankruptcy? You are not alone
My law firm is a debt relief agency that assists consumers filing for Bankruptcy. TWO COURTS- EASTERN OR WESTERN DISTRICT OF MICHIGAN BANKRUPTCY COURTS. BANKRUPTCY FLINT ,ATTORNEY POSTING HERE – Flint Bankruptcy Lawyer Terry R. Bankert 810-235-1970. If you have bankruptcy questions call or contact through my information loaded http://www.nojokebeingbroke.com or http://www.attorneybankert.com .
Source: wordpress.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
Chapter 7 Bankruptcy Means Test Explained
If you have disposable monthly income according to Test 2, then you move to Test 3. Test 3 rarely applies; but basically, if your monthly disposable income multiplied by 60 is less than $6,575, then you are presumably a chapter 7 bankruptcy. If your disposable monthly income multiplied by 60 is between $6,575 and $10,950 and that amount will not pay at least 25% of your non-priority unsecured debt, then you presumably qualify for chapter 7 bankruptcy. In essence, within those narrow guidelines, the bankruptcy code is saying that there is not enough left over at the end of the month to matter.
Source: mpslawoffices.com
The Institute of Delaware Corporate & Business Law
The professor explained that Chapter 9 bankruptcies are rarely filed in large part for two reasons: (1) a paucity in case law creates uncertainty regarding how the bankruptcy will result; and (2) the statutory eligibility requirements of 11 U.S.C. § 109(c). One eligibility requirement to note is that the municipality must be specifically authorized by state law, or by a competent state government official or organization before it can file for bankruptcy. While twenty four states have no authorizing legislation, and one state—Georgia—has legislation prohibiting Chapter 9 bankruptcies, the level at which the remaining twenty five states are authorized varies. It was explained that this authorization requirement is in place to address Tenth Amendment concerns, because a municipality is a creature of its states and entering bankruptcy places the municipality under the jurisdiction of the federal government.
Source: widener.edu
Newspaper Publisher Journal Register Files for Bankruptcy and Plans for a Sale
Newspaper industry experts say that the Journal Register’s problems plague the entire industry. Alan D. Mutter, a newspaper consultant who blogs at Reflections of a Newsosaur points to Newspaper Association of America data that shows annual advertising sales revenue for the industry shrunk to less than $24 billion in 2011 from $49.4 billion in 2005. He said that an industry shrinking that quickly cannot afford the obligations like the pensions of employees who retired years before in the current economy.
Source: nytimes.com
Advantages And Disadvantages Of Chapter 13 Bankruptcy
Also known as a wage earner’s plan, Chapter 13 bankruptcy is for those persons who wish to have a financial reorganization monitored by a bankruptcy court. The purpose of Chapter 13 is to allow a wage-earning debtor to undergo a rehabilitation plan as long as he adheres to such plan approved by the court. Conversely, Chapter 7 bankruptcy provides full and immediate relief from overwhelming debts. A debtor creates a repayment proposal to his creditors to pay his debts in installments in 5 years time or less. If the debtor’s monthly income is less than the state’s average income then he will be allowed to pay his debts in 3 years. If his monthly income is more than the state’s average income then the term of installment is for 5 years. While the debtor is under a financial rehabilitation plan, his creditors must cease from their collection efforts.
Source: bankrupted.com
Is Filing Bankruptcy for Free Even a Possibility Anymore?
Is Filing Bankruptcy for Free Even a Possibility Anymore? Realistically, filing Chapter seven individual bankruptcy is actually not that high-priced, it just is dependent where you seem at it. Planning back again to the alterations of the individual bankruptcy code, added was a pre-individual bankruptcy credit score counseling training course and a submit-individual bankruptcy fiscal management program. These had been two added expenses over and over and above what it fees beforehand. For these programs a person could do them on-line for approximately $twenty five-$fifty apiece. Although this does not sound like a good deal of funds, for an individual that is dwelling paycheck to paycheck and may well as properly be $1000. There is some assist in this spot as there are some businesses that offer scholarships for these classes for those who are significantly less fortunate. All a particular person needs to do is use for it and if they qualify they could get the training course for no cost. The fees of filing individual bankruptcy go even more than just the two courses. The person will be required to pay out the individual bankruptcy court docket approximately $306 for filing costs when submitting Chapter 7 bankruptcy and $281 for submitting Chapter thirteen bankruptcy. I don’t know why the fee for Chapter thirteen is a lot less than Chapter seven but it is. It is possibly due to the fact the personal bankruptcy trustee receives paid out a percentage of the Chapter thirteen program to deal with it. Anyhow, these expenses have to be compensated at the time of filing the individual bankruptcy petition unless of course the individual needs to see the personal bankruptcy judge and check with to have these costs waived due to the fact the individual can not find the money for it. In most circumstances the personal bankruptcy judge will permit it. Now that we have blanketed the external expenses and found out it is feasible to file for individual bankruptcy for free, but this is only if you are submitting professional se or a do-it-yourself individual bankruptcy. It is completely legal to file pro se, but based on how complex a person’s personal bankruptcy submitting is, it really is not a great concept. It is genuinely no distinct than the person not heading to the doctor and treating on their own for a ailment or illness, it just doesn’t make sense. The most expensive part of filing individual bankruptcy is selecting a individual bankruptcy attorney to stand for the personal. To seek the services of a bankruptcy lawyer can value roughly $a thousand-$2000 when submitting Chapter 7 bankruptcy and submitting Chapter 13 bankruptcy could cost anyplace from $2000-$4000. The Chapter 13 is much more high- priced since the entire method lasts three to 5 a long time. The bankruptcy lawyer or attorney may possibly be needed to modify the Chapter 13 plan midstream to accommodate the debtor. For folks that can’t pay for to retain the services of a bankruptcy law firm, there are businesses in which legal professionals volunteer and operate pro bono. For a person in this circumstance they really should contact regional assist businesses. When it comes down to it, selecting a individual bankruptcy lawyer or attorney would seem expensive but weighing the pros and disadvantages of not getting 1 doesn’t make sense. Simple Tips For Choosing The Right Bankruptcy Lawyer, Places in Sacramento to Rent an Apartment With a Broken Lease, Find out all that you can about bankruptcy just before assert and get a wonderful law
Source: pdfcast.org
Means Test Median Income Figures Reduced Again for Michigan Bankruptcy Filers
If your entire household earns less than the median income for a household of its size in the state in which you reside, then Chapter 7 is available. For instance, a household of 4, which might consist of a father, mother and two children, earning on average $60,000 would “pass” the means test and be eligible for Chapter 7. On the other hand, a single filer living alone earning $50,000 per year would bear a “presumption of abuse” in the filing of a Chapter 7 bankruptcy petition. Our hypothetical single person might have to file a Chapter 13 case and repay a portion of their debt.
Source: michiganbankruptcyfirm.com
‘Rich Dad, Poor Dad’ Author Filed Bankruptcy
Even though the title is misleading as it looks like only one of his companies is going under, I’ve always thought Kiyosaki is a fraud. This is a guy who went around telling everyone that he made it big in real estate when in fact he wrote a book, “Rich Dad, Poor Dad” that went nowhere until an Amway guy picked it up. The Amway guy then made sure it was a must-read among Amwayers. The book is a financial lesson based on his well-educated father who worked hard but lived paycheck to paycheck (poor Dad) and a “friend’s father,” who dropped out of school at the age of 13 but was an entrepreneur who did well for himself (rich Dad) and taught Kiyosaki a lot of financial/life lessons. The reality is that this book is what made Kiyosaki a bunch of money as all of a sudden sales soared once a lot of Amwayers began buying it up and others became curios as well and bought it. There is no evidence that the Poor Dad ever existed. Kiyosaki has repeatedly refused to reveal the identity of this man and some have done extensive research to find out who this man is. There are other discrepancies in his background as well. I remember watching him on one of these financial news networks back in the early 2000′s and when asked about his net worth, he stated “$50-100 million, depending on the day.” How could your net worth swing that wildly if all you own is real estate and precious metals? Then, a few years later, when asked again, he stated “oh, around $35 million.” If you invested in precious metals and real estate in the early 2000′s, your net worth should not have gone down by the mid-2000′s. Anyway, he may be super-wealthy now and his advice may make sense at times, but I think this guy is a total sleaze and engages in general and repeated douchebaggery.
Source: businessinsider.com