by GPurkis | Feb 4, 2021 | Uncategorized |
When a business is struggling business owners often think ahead and wonder what would happen if they had to close the business, either with or without a bankruptcy filing. One of the first considerations is whether the principals of the company signed any personal...
by GPurkis | Jan 21, 2021 | Chapter 11, Chapter 11 News |
About one month after formally moving to restructure its debts, Guitar Center has been cleared to exit Chapter 11 bankruptcy. The 61-year-old music-retailer chain recently announced that a Virginia bankruptcy court had approved its reorganization plan. As detailed in...
by GPurkis | Jan 7, 2021 | Uncategorized |
The strain of 2020 has resulted in the loss of unemployment benefits, the loss of jobs, the loss of bonuses, and the loss of businesses. Living on credit day-to-day has now become a reality for millions of Americans. Total consumer debt recently hit just below $4.2...
by GPurkis | Dec 2, 2020 | Uncategorized |
An operating company can be hit with an unusual surprise: being served with an involuntary bankruptcy petition. Most of the time companies file for voluntary bankruptcy relief. But on occasion a group of creditors can come together and force a company into...
by GPurkis | Nov 10, 2020 | Uncategorized |
California has a variety of intestate laws that apply if you do not have a will. If you have any half-brothers and half-sisters well, they inherit as if they were “whole” under California law. That is, your brother with whom you share a father, but not a mother, has...
by GPurkis | Oct 7, 2020 | Uncategorized |
Effective January 1, 2021, California’s homestead exemption — the amount of equity in a primary residence that can be protected from creditors — will increase to $600,000 for all Bay Area residents. Assembly Bill 1885 provides that the homestead amount will be the...
by GPurkis | Jul 23, 2020 | Uncategorized |
When there is an extended interruption in cash flow, many large corporations turn to Chapter 11 bankruptcy relief. I am not surprised that Hertz filed for Chapter 11 bankruptcy relief just like a lot of other companies have done recently. We can expect more filings...
by GPurkis | Jul 9, 2020 | Uncategorized |
Are you having a hard time keeping current with all of your credit cards? Have the credit card companies raised your interest rates? With high interest rates, minimum monthly payments just prolong the agony. The odds are stacked against you as the credit card...
by GPurkis | Jun 25, 2020 | Uncategorized |
When there is an extended interruption in cash flow, many large corporations turn to Chapter 11 bankruptcy relief. I am not surprised that Hertz filed for Chapter 11 bankruptcy relief just like a lot of other companies have done recently. We can expect more filings...
by GPurkis | Jun 11, 2020 | Uncategorized |
Well that is the fundamental question. You are in rough financial shape and need to file for bankruptcy. You just lost your job or just closed your business. Creditors are calling. How do you make the break between saving up to file bankruptcy and holding off the...