What are the reasons people file for bankruptcy?
Bankruptcy is a fresh start to help get out from underneath the burden of debt. Most of the time, there are specific life circumstances that lead to changes in income or expenses, and bankruptcy can provide a lifeline when these unexpected circumstances occur
Full StoryThe Mechanics of Wage Garnishment in Maryland
A wage garnishment is one of the most utilized weapons in a creditor’s collection arsenal. Learn how you can stop a wage garnishment by contacting Steiner Law Group.
Full StoryTreatment of Unsecured Creditors In Chapter 11
An important benefit of a business filing for Chapter 11 bankruptcy is that the Bankruptcy Code pursuant to 11 U.S.C. §507 prioritizes debt into categories and at the bottom are general unsecured claims, which can be paid a small percentage of their claims.
Full StoryChapter 11 Plan Provision – Providing a Secured Creditor With Dirt for Debt
If the debt is secured by real estate, a “dirt-for-debt” solution may allow a debtor to confirm a Chapter 11 plan forcing a secured creditor to accept its real estate collateral as payment for its debt.
Full StoryWhat Is Considered Income For Bankruptcy?
The Bankruptcy Code has a very broad definition of “Current Monthly Income”. The calculation of Current Monthly Income can have a substantial effect on a bankruptcy.
Full StoryChapter 11 Cramdown of Secured Debts
Chapter 11 can provide a lifeline to a debtor that cannot currently afford its secured claim payments as structured under the terms of the loan documents that govern the claim.
Full Story