Mortgages and Rents – SNDA Agreements

From the borrower’s perspective, there are some special issues which arise with rents on commercial real estate properties in a foreclosure or bankruptcy setting. These issues must be thoroughly analyzed on the front end because cash is king, and continued use of cash to support the upkeep of the properties

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Small Business Owners Remain Pessimistic

The National Federation of Independent Business (NFIB) has collected small business economic trends data since 1973.  The NFIB monthly surveys are available at their excellent website.  The NFIB March report states that the current trends remain on par with the 2008 trends. While the report notes that there is some

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Number 1 Pet Peeve – Client Depositions

As everyone does, I have developed my own list of deposition “pet peeves,” and I’m going to introduce you to them. So, here is my No. 1 pet peeve: clients not listening to and contemplating questions before answering when being deposed. Before every deposition of a client, I have a

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Overall Bankruptcy Filings Continue to Decrease

Overall Bankruptcy Filings Continue to Decrease The American Bankruptcy Institute (“ABI”) recently reported that total bankruptcy filings in the United States decreased 21% in February, 2013, as compared to February, 2012. Consumer filings declined 21% and total business filings declined 29%. The ABI projects that bankruptcy filings will continue to

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Student Loans: Who Owns Yours?

Although student loans may be made by private lenders, most of them are guaranteed by a state or federal government agency such as the Kentucky Higher Education Assistance Agency (KHEAA) or the U.S. Department of Education.  Student loans are bought, sold and transferred just like mortgages and credit card accounts,

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You Received a Preference Demand Letter . . . Now What?

If you receive a letter from a bankruptcy trustee or Chapter 11 debtor in possession demanding that you or your business repay a “preference” or preferential transfer, there are a few things to know and do right away.  First, a preferential transfer does not mean you did anything wrong.  Recovering

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Chapter 11: It’s Not Just for Businesses

There is a very common mistaken belief that Chapter 11 reorganization bankruptcy is only for business entities.  To the contrary, Chapter 11 is ideal for high-income individuals or individuals with significant assets. Unlike Chapter 13 bankruptcy, there are no debt limits that determine your eligibility for Chapter 11 relief. Like

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The Tax Man Cometh: Your Options When Facing A Tax Levy

Due to the current state of the economy, more individuals and businesses are finding it difficult to pay their taxes.  If you have exhausted all available appeals with the taxing authorities or been denied for an offer in compromise, you may want to look at your bankruptcy options.  This is

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The Waiting Game: Eligibility For A Bankruptcy Discharge

If you have previously filed for personal bankruptcy and are again facing financial issues, you will want to know how long before you’re eligible to receive a discharge in bankruptcy again.  The time frame depends on what type of bankruptcy you previously filed and the time is counted from filing

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