Legal Articles, Credit & Debt
What happens at a bankruptcy creditor's meeting in Rhode Island?
Everyone who files a bankruptcy case in Rhode Island will have to attend a creditors meeting also known as the "341 Meeting". It's a meeting between the case trustee, the debtor, the debtor's attorney if they have one and any creditors that decide to attend. The debtor is asked a series of questions during this meeting about their income, expenses, debt, property, financial transactions and other things. The bankruptcy judge is not permitted to be at the creditors meeting. The meeting is held between 20 and 40 days after the case is filed. Creditors that the receive the notice. That is why it is so important to list all of your creditors and their correct addresses in your bankruptcy court forms.
Property you can keep if you file for bankruptcy in Rhode Island
Most people who file personal bankruptcy cases in Rhode Island get to keep their home and everything else that they own because the property is considered exempt by either federal or Rhode Island state law. These are considered non-asset cases because the creditors don’t receive any money. If your property is not exempt the bankruptcy case trustee can sell the property to repay your debts. An experienced Rhode Island bankruptcy attorney can ensure that you take advantage of every exemption you are legally entitled to use in your bankruptcy case.
Bankruptcy Looming for Hertz Rental Car
Hertz Rental Cars are facing filing bankruptcy. They are likely to file Chapter 11 bankruptcy which would allow them to continue to operate while reorganizing their debt. They could also file Chapter 7 bankruptcy in which case the company's assets would be liquidated and that could quite possibly put an end to Hertz and their #1 Car Rental slogan. It shall be interesting to see how this unfolds.
The Automatic Stay when Filing Bankruptcy
Find out whatever you need to know regarding the Automatic Stay and filing bankruptcy. A very powerful tool, the Automatic Stay stops creditors from collecting on debts once bankruptcy is filed.
What Can You Do After Filing Bankruptcy in Arizona
There is Life After filing bankruptcy. You can easily mess up your "Fresh Start" after filing for bankruptcy protection by going back into the same habits that landed you needing to file bankruptcy in the first place. Be mindful of things this time to avoid another financial setback. Consider talking to an experienced bankruptcy attorney in Phoenix to find out the best ways to navigate your "Fresh Start"
Bankruptcy and Credit Score
Bankruptcy does not destroy your credit. Credit will normally take an initial 100 to 150 point hit. However, if it is low enough, it might actually go up.
Your Tax return and Bankruptcy
It’s the most wonderful time of the year. Time for your tax return and to get back some of your hard earned money.
The beginning of the year is usually the toughest time for a lot of people, the bills and credit card debt of Christmas still ringing fresh. Though the holidays are over, the majority of folks have overspent.
The holidays are over, and most have overspent. People in an already bad financial situation have usually made their situation worse during the holidays. A lot of times it’s the holidays and the spending at Christmas that make people realize they should consider bankruptcy or some other form of debt relief.
Debt Crisis in America Due To The Corona Virus
As the pandemic Coronavirus (COVID-19) rips through America’s biggest cities, its effect is being thought far beyond the over 140,000 Americans who are confirmed infected. This means America is potentially facing a debt crisis due to this pandemic COVID-19.
New Record Unemployment Filings Could Spike Bankruptcy Numbers
Record Unemployment Rates could be a clear indicator of the dark financial days looming. 6.6. Million people filed for unemployment for the week ending 3/28/2020. These high numbers may lead to an influx of bankruptcy filings in the near future.
Tendering Money When Futile
A tender must be immediately available money but does not have to be made if futile.
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