Creditor Tips for Chapter 7 Bankruptcy

By: Jamie L. Harris If you receive notice that a customer or client has filed for Chapter 7 bankruptcy relief, there are certain things you need to know about the bankruptcy process.  First, you should cease any pre-petition collection efforts.  The automatic stay afforded by the bankruptcy filing stays any

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Tax Workouts

By: Jamie L. Harris If you or your company is dealing with tax debt, getting resolution of the debt can seem overwhelming, especially when penalties and interest are considered.  Typically, whether you are dealing with the state or federal government, payment plans are available.  Sometimes, penalties can be waived as

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Exemption Amounts Increased April 1st 2019

By: Laura Day DelCotto Under the Bankruptcy Code, every 3 years, certain debt limits and the exempt assets limits increase.  This is done to keep up with inflation.  The amounts recently were raised for all cases filed after April 1.  Most of our individual clients ask about what they may

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Personal Property Exemptions

By: Jamie L. Harris If you are facing a garnishment, attachment or execution on a judgment in Kentucky, you are probably wandering what personal property you own is exempt from creditor attachment.  Under KRS 427, many items of personal property are exempt from  judgment creditor seizure including:  jewelry, personal clothing

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Options for Dealing with Credit Card Debt

By: Jamie L. Harris If you are dealing with significant credit card debt, filing a personal Chapter 7 or Chapter 13 bankruptcy may be a viable option for addressing credit cards if you are eligible for those chapters.  In a Chapter 7 bankruptcy, the debt is listed and discharged upon

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Corporate Governance 2019: Philosophy Meets Reality

By: Laura Day DelCotto I’m reading more and more about ESG – it’s sweeping into vogue in a big way.  I predict that we will continue to see more about it in 2019, including moving beyond the financial investment world.   But how, exactly, do we make decisions that integrate the

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Interest Rates and Tax Claims

By: Laura Day DelCotto I learn something new every day, so it keeps this life fun. Somehow, I don’t remember ever specifically focusing on 11 USC §511 in all these years of confirming plans.   With interest rates moving so often this year (and in the wrong direction from borrowers’ perspective),

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Chapter 11 May Help Nassar Victims

By: Laura Day DelCotto   The WSJ headline about the recent USA Gymnastics’ filing is spot on. At first blush, when anyone with multiple lawsuits files bankruptcy, there seems to be a rush to judgment that the debtor is seeking to evade and avoid litigants.   The filing is viewed with

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HALLOWEEN 2018: A Word on Zombies, The Walking Dead and Death Spirals

By: Laura Day DelCotto Stanley Druckenmiller has been widely quoted recently for his predictions at the NYC Grant’s Investment Conference of looming insolvencies and bankruptcies to be filed by any number of zombie companies: “Seriously, does anyone know why Sears is still in business?”   He is right, the zombies have

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