BANKRUPTCY BLOG


Priority Debt & Filing for Bankruptcy Before filing for bankruptcy, you should know that not all debts are treated equally. For example, certain debts,called Priority Debts, cannot be discharged, or forgiven, and must be repaid in full. What are Priority Debts? Priority Debts, or debts that take priority over other debts, cannot be forgiven in the event of a bankruptcy. These Priority Debts are called so because they will be the first to receive the
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2017: The Year of Retail Bankruptcies Studies show that more people are turning to online retailers to find the latest fashion, accessories and technology in 2017. Because of this shift in foot traffic, retail stores are filing for bankruptcy at a staggering rate. The Limited Just a few weeks before filing Chapter 11 bankruptcy, The Limited clothing stores closed its remaining 250 stores nationwide. On top of losing two of its top CEO’s in 2016,
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3 Things you should avoid if you are considering bankruptcy Swiping your credit card One of the first things you should do if you find yourself in financial trouble is cease the use of your credit cards. No online spending, cash advances, or shopping. Just remember, if you know you will be filing bankruptcy and you use a credit card, you are committing fraud. Cashing out your retirement Debt collectors have a variety of ways
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October 21, 2016

Changes to Bankruptcy Law

Sam Henry's Office Comments are off
Changes to Bankruptcy Law Bankruptcy laws have changed, but most people don’t exactly know the changes. Let’s look at the changes in the bankruptcy law. I’m sure that after you review the changes, you will see that the changes aren’t that drastic, and most likely will have little or no effect on your situation. In fact, studies have shown that 85% of the people that filed Chapter 7 last year, would still be eligible to
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How often can a debtor file bankruptcy? A debtor can file a Chapter 7 bankruptcy once every eight years, if he receives a discharge in the first bankruptcy. There is no time limit in a Chapter 13 bankruptcy.
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