The Bankruptcy Code provides debtors with a fresh start or an opportunity to reorganize their debts. In doing so, the Code requires all debtors to provide, under oath, a full disclosure of their assets and liabilities. This requirement promotes fairness to the debtor and its creditors by ensuring a complete […]
When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily consumer debts files for Chapter 7 bankruptcy. […]
When a debtor files for bankruptcy, a creditor may be able to seek dismissal of the bankruptcy if the petition was filed in bad faith. This article will provide an overview of the options available to a creditor if a debtor with primarily business debts files for Chapter 7 bankruptcy. […]
It is common knowledge that when a person or business files for bankruptcy, the end result is typically a discharge of debts. The bankruptcy debtor will no longer be personally responsible for payment of the outstanding debts. However, a security interest in real property remains, such as a lien created by a mortgage on a home. But what happens to a security interest in something more intangible, like insurance proceeds?