According to court documents, long-time jeans maker, True Religion, had over $547 million worth of liabilities and only around $243 in assets at the time of filing for Chapter 11 Bankruptcy earlier this month. To fans of True Religion clothing: don’t start sobbing yet. The store may not be riding off into the sunset at …
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According to Chapter 11 Bankruptcy documents filed in federal bankruptcy court, J.A. Tiberti Construction Company’s $29 million arbitration award is the largest debt owed by Bishop Gorman’s landlord: Bishop Gorman Development Corp. The landlord refuses to take any responsibility for the debt-hole it has created and continues to blame the inability to pay construction costs …
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The once-popular children’s clothing chain, Gymboree, filed for Chapter 11 Bankruptcy this month in an attempt to lessen its debts. Representatives of the company shared that the retailer wishes to remain in business but will close up to 450 of its nearly 1,300 stores. The company’s goal is for a complete reorganization. This bankruptcy did …
If you are legally married to your spouse, the bankruptcy code allows both of you to file a joint bankruptcy case instead of filing two separate individual bankruptcy cases. A joint petition can be advantageous for many reasons. When a married couple files a joint petition for bankruptcy, they are only required to pay one …
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Debt Collectors are governed by the Fair Debt Collections Practices Act (FDCPA). This law is aimed at protecting consumers from debt collectors’ bad and/or illegal tactics. The FDCPA limits debt collectors in their attempts to collect. Unfortunately many debt collectors do not follow the FDCPA and use illegal tactics to collect. It is effective for …
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Note: This is part two of Bankruptcy and Your Credit Score: What You Need to Know How can I rebuild my credit after bankruptcy? Okay, so you have filed your bankruptcy, followed the court process and received your discharge. But, now what do you do? The purpose of filing bankruptcy, which is even described in …
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If you are considering bankruptcy, you may be wondering what effect a bankruptcy filing will have on your credit score. Will a bankruptcy filing ruin your credit forever? Is it possible to recover? How long will it take to rebuild my credit after bankruptcy? What is credit anyway? To understand how a bankruptcy will affect …
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Is your home facing foreclosure? Are you trying to short sell your home? Are you trying to obtain a loan modification? Are you getting frustrated by all the red tape? Are you tired of getting the runaround? We specialize in helping people just like you stay in their homes, or short sell, without all the …
Why different chapters? The bankruptcy code contains various sections and provisions which delineate the different chapters of bankruptcy. “Chapter” merely refers to the kind of bankruptcy and the specific rules that apply. Why are there different chapters? The simple answer is because there are many different circumstances of individuals who file for bankruptcy. Some debtors …
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