Questions to know

Posted by Ian Smith | Aug 27, 2020 | 0 Comments

Here are the common questions and procedure the US Trustee will ask of a debtor in the creditors meeting. State your full name. Is the address on the petition your current address? Did you read and understand the Bankruptcy Information Sheet you filed with the Court? Did you sign the petiti...

Bankruptcy and Leases

Posted by Ian Smith | Aug 17, 2020 | 0 Comments

A bankruptcy deals with both the assets and the obligations of a debtor. Bankruptcy addresses these assets and obligations by creating a fictional estate. All assets of the debtor become property of the estate. The administration of this estate is dealt with by a Trustee (in most Chapter 7s this ...

Guidelines to PreBankruptcy Filings

Posted by Ian Smith | Aug 14, 2020 | 0 Comments

Often times when a person decides to enter bankruptcy they have been through an extended tumultuous period. That period can devolve into debtors looking to sell any and all assets to satisfy their mounting debts. These sales or transfers of property can ultimately end up hurting the debtor. It se...

Where is my tax refund?

Posted by Ian Smith | Jul 22, 2020 | 0 Comments

Months after filing, thousands of Americans are still waiting for their tax refunds. The Washington Post. The pandemic temporarily closed the IRS and officers are now returning to work. They have been confronted with a massive backlog of returns. Americans got an extra three months this ...

1/3 of Americans are Missing Rent or House Payments in July

Posted by Ian Smith | Jul 21, 2020 | 0 Comments

More Than 1 in 3 Renters Did Not Pay July Rent on Time. Forbes. According to a report compiled by Apartment List, 1 out of 3 Americans missed either their rent or house bill payments in July. This alarming number comes at an unfortunate time. The CARES ACT has many important provision that ar...

A New Small Business Bankruptcy Law

Posted by Ian Smith | Jul 16, 2020 | 0 Comments

A New Small Business Bankruptcy Law Takes Effect, Just in Time. Chapter 11 bankruptcy is by far the most expensive to file. It has been prohibitively expensive for smaller firms in the past. Under the Small Business Reorganization Act, which passed in February of 2020, congress streamlined the p...

Defaults in the bond markets portend an ugly future.

Posted by Ian Smith | Jul 15, 2020 | 0 Comments

Red Storm Rising in the Municipal Market. Forbes published an interesting article yesterday. I have been wondering about the knock on effect of the coronavirus for months now. While the media and the stock market seem to be focusing on a supposed "V-shae recovery." The underlying economic funda...

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