by GPurkis | Jun 22, 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 18, 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 2, 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 | May 19, 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...
by GPurkis | May 4, 2020 | Uncategorized |
For many troubled companies, like luxury retailer Neiman Marcus Group Inc., which filed today, the lockdown to blunt the COVID-19 coronavirus super-charged the effects of pre-existing problems like debt overloads and the inability to please fickle consumers. For...
by GPurkis | Apr 30, 2020 | Chapter 13 |
Lien stripping allows a Chapter 13 debtor to remove a junior mortgage secured against the debtor’s real property. Lien stripping does not apply to first mortgages. First mortgages on residential real estate cannot be modified. Lien stripping is available only for...
by GPurkis | Apr 30, 2020 | Uncategorized |
First, run a budget. What is your income and what are your core living expenses? How much have you been paying each month on general unsecured debt such as credit cards, medical bills, and unsecured loans. If you lost your job, assess whether you will be able to get a...
by GPurkis | Apr 16, 2020 | Uncategorized |
Your credit card company has filed a lawsuit against you and you have been served with a summons and complaint. What to do now? Should you file for bankruptcy? Understand that credit card debt is a type of unsecured debt that if you can’t make payments, your credit...
by GPurkis | Apr 2, 2020 | Uncategorized |
The Small Business Reorganization Act of 2019 (“SBRA”) became effective February 19, 2020. The goal of the Act was to streamline the Chapter 11 process and reduce the costs for those debtors that qualify. Small businesses who are facing cash flow issues due to the...
by GPurkis | Mar 19, 2020 | Uncategorized |
Reaffirmation agreements only pertain to Chapter 7 bankruptcies. Occasionally, a creditor will request that you sign a reaffirmation agreement. Some car companies make the request for their car loans. Essentially, it is a contract that you sign after you file a...
