side effects of old amoxicillin dosage of cipro for diverticulitis buy metronidazole canada indomethacin side effects insomnia appropriate viagra dosage cephalexin side effects dry skin abilify side effects coming off divigel estradiol gel side effects valtrex 1g side effects metronidazole dosage in neonates cipro strep throat dosage price of viagra capsule propecia side effects disappear ventolin price in philippines normal dosage of propecia buy levothyroxine online pharmacy what is the highest dosage for cialis dosage of sildenafil citrate acheter cialis online amoxicillin suspension dosage chart vardenafil online pharmacy ciprodex drops uses metronidazole side effects birth control metformin side effects treatment dangers of ordering viagra online how to buy viagra in muscat where to buy viagra in la where to buy viagra alternatives uk vardenafil online cheap to buy viagra online compare side effects of viagra and cialis comprare cialis online in svizzera can you buy cialis over the counter in malaysia erythromycin dosage chest infection amoxicillin side effects hallucinations generic viagra in australia price of sildenafil uk much does esomeprazole cost acyclovir dosage dogs lasix uses side effects cost of tamoxifen uk nexium hp7 uses pfizer viagra price india amoxicillin clavulanate uses what are the side effects of reducing prednisone buy tamoxifen tablets amitriptyline medication side effects metoprolol tartrate side effects depression side effects of metformin 1000 where to buy clomid in singapore levothyroxine side effects eye twitching levothyroxine 200 mcg side effects dosage of doxycycline for dogs lyme disease buy strong viagra uk ivermectin for guinea pigs for sale how to cure side effects of prednisone ampicillin uses dogs amoxicillin side effects on period what are the side effects to metformin benazepril hydrochloride for cats side effects side effects of prednisone depression kamagra oral jelly australia side effects of prolonged use of levothyroxine viagra pill cheap prednisone side effects 20mg metoprolol dosage for heart failure cheap kamagra online can you buy viagra over the counter in melbourne side effects starting levothyroxine doxycycline price at target ivermectin for guinea pigs where to buy prednisone side effects in babies cymbalta and abilify side effects amitriptyline dosage levels side effects of amoxicillin constipation cheapest viagra in uk finasteride dosage for baldness levitra online forum doxycycline for cats dosage is levitra available in canada viagra online swiss buy viagra danmark side effects going off propecia amoxicillin 250mg capsules side effects amitriptyline hcl 10mg tab uses amoxicillin daily dosage cialis side effects vertigo denex metoprolol tartrate side effects side effects of bioidentical estradiol cream buy viagra levitra vardenafil canada pharmacy order canadian viagra amoxicillin purchase online accutane side effects muscle pain cheap brand cialis where can i buy accutane from atenolol side effects psoriasis high cost of viagra acyclovir pharmacy online side effects of metronidazole nhs levothyroxine side effects spanish what are side effects of metoprolol tartrate generic amlodipine besylate side effects what is the usual dosage of cialis permanent side effects of tamoxifen side effects of the ventolin inhaler side effects when stopping amlodipine how to buy viagra in germany viagra alternatives over the counter australia cost of doxycycline malaria tablets the uses of cytotec dosage ciprofloxacin iv accutane side effects chills how much does metformin xr cost where buy viagra in canada azithromycin for sale philippines amoxicillin side effects 6 month old can you buy priligy in canada buy orlistat in usa side effects of bupropion hcl xl 150 mg tamoxifen pills for sale amlodipine besylate side effects 5 mg spironolactone cost uk long term side effects from cialis xenical cost in canada where to safely buy viagra online low price levitra spironolactone side effects in cats buy cialis in hyderabad estradiol vs premarin dosage how much does valtrex cost in australia metoprolol sr dosage side effects of drinking with amoxicillin side effects of using ciprofloxacin buy pro air albuterol amitriptyline dosage migraine prevention side effects stopping erythromycin viagra online fastest shipping keflex dosage skin infection viagra online shopping australia price of synthroid cvs metformin dosage schedule viagra online generic compro kamagra online ivermectin injection for dogs side effects dogs and prednisone side effects cytotec for sale olx cost of clomid infertility viagra online switzerland does synthroid have any side effects prednisone withdrawal side effects how long cialis patent expiration canada allopurinol side effects skin rash metoprolol dosage heart rate best site to buy generic propecia doxycycline hyclate purchase what is ventolin side effects meloxicam side effects heartburn finasteride online kopen retail price of acyclovir can you buy valtrex over the counter in the uk had no side effects clomid what r the side effects of clomid buy cheap nexium ivermectin dosage for dogs with heartworms generic cialis online europe buy pink viagra uk what is side effects of atenolol metoprolol er succinate dosage range price of isotretinoin gel abilify side effects during pregnancy buy metformin for pcos canine levothyroxine price indomethacin dosage per day farmacia online cialis europa viagra office canada can you buy azithromycin in boots daily dosage of clomid amoxicillin side effects in infants rash abilify injection side effects what is the correct dosage of misoprostol dosage of cytotec for miscarriage doxycycline for bladder infection dosage prednisone dosage for 55 pound dog spironolactone side effects missed period how long do the side effects of bupropion xl last best place buy viagra online forum side effects of indomethacin on fetus can i buy viagra from canada tetracycline side effects skin rash cytotec for sale sulit buy viagra in saskatoon side effects of zyprexa and prozac viagra head office in toronto canada snopes buy sildenafil online ireland ramipril amlodipine side effects zithromax powder side effects acyclovir side effects menstrual cycle cabergoline ohss side effects how much does generic norvasc cost buy azithromycin single dose usual dosage of ciprodex where to buy cialis in vancouver xenical pills price side effects of being on prednisone viagra buy ebay synthroid side effects anxiety keflex side effects blood pressure how long will metronidazole side effects last serious side effects of prednisone in dogs aciclovir abc crema costo doxycycline side effects in the sun side effects of lasix therapy amoxicillin side effects oral thrush best place to buy acyclovir online levothyroxine dosage how to take metronidazole 500 mg side effects alcohol metronidazole 0.75 price cialis online kaufen deutschland quitting finasteride side effects metronidazole side effects stop taking cytotec for sale manila area south african price for viagra side effects after stopping clomid buy viagra paris side effects metoprolol er 50 mg levitra in canada price of azithromycin in philippines levothyroxine side effects trouble sleeping side effects too much allopurinol where can you buy viagra in brisbane allopurinol canada intravenous lasix side effects buy propecia in pakistan azithromycin usp side effects nolvadex tamoxifen for sale uk viagra cialis quanto costa proair hfa albuterol sulfate dosage side effects of prednisone cough how to buy viagra from canada buy propecia in australia buy buying viagra while in mexico cipro side effects patients viagra side effects dehydration buying viagra cozumel viagra side effects testimonials cephalexin oral side effects amlodipine benazepril hcl side effects novidat ciprofloxacin hcl side effects buy cialis safely online clomid buying it online benazepril dosage in cats adverse side effects of doxycycline how long do side effects of cialis last cialis toronto canada can i bring viagra into canada side effects to taking valtrex forzest online kaufen how long do the side effects of erythromycin last synthroid side effects anger valtrex side effects sensitive skin flagyl dosage parasites side effects of albuterol overdose cost of misoprostol tablets in india side effects of meloxicam viagra cost in usa can you buy viagra over the counter in switzerland cabergoline 0.5 mg price what is the standard dosage for viagra ciprofloxacin dosage 3 days viagra online erfahrung mobic and aspirin side effects why buy generic viagra how long does the side effects of prednisone last amlodipine 5mg tab side effects does metformin side effects go away norvasc generic cost estrace dosage mtf herbal viagra side effects viagra online 25mg side effects of nexium and zantac avodart prescription cost side effects of metformin hair loss is it ok to buy clomid online buy viagra from uk erythromycin ointment dosage newborns albuterol in nebulizer side effects cephalexin dosage for bladder infection side effects of albuterol breathing treatments amoxicillin dosage for 65 lb dog metronidazole cost nhs finasteride cost uk como comprar cialis online viagra online australia cheap side effects of clomid before ovulation does bupropion side effects go away azithromycin side effects back pain valtrex from canada flagyl suppositories dosage can i bring viagra from mexico to canada cialis 20mg side effects how much does azithromycin cost uk accutane cost without insurance uses for albuterol purchase indapamide valtrex 500 mg cost propecia actual side effects levitra side effects treatment ofloxacin otic cost side effects of erythromycin in infants dosage instructions for flagyl what about abilify causes weight gain zovirax uses keflex generic price what are the side effects to meloxicam cheap generic viagra from india buy levitra in mexico side effects metronidazole 500 mg cytotec abortion pill online buy aciclovir boots foro donde comprar viagra online finasteride side effects forum doxycycline for cats for sale viagra online rezept metoprolol extended release side effects side effects of being on thyroxine cost of zovirax 5 cream buy generic accutane 40 mg side effects too much levothyroxine medication nortriptyline side effects cardiac orlistat side effects gallbladder atenolol side effects arthritis clomid side effects or early pregnancy symptoms ofloxacin oz dosage price of nexium in spain buy proscar 5 mg doxycycline mylan side effects elavil skin side effects viagra online sale in india azithromycin 500mg buy prednisone aspirin side effects clomiphene 50 mg side effects allopurinol side effects on liver olanzapine low dose side effects zovirax cream price in india side effects metformin hcl 500 mg tablet valacyclovir prophylactic dosage flagyl tab uses where can i buy viagra in new york city side effects of dogs coming off prednisone side effects of quitting amitriptyline dutasteride tamsulosin hydrochloride side effects how long does albuterol side effects last cephalexin monohydrate 500 mg dosage ciprofloxacin dosage days tamoxifen side effects nhs viagra from australia suppliers ventolin side effects in infants nexium side effects cardiac levonorgestrel ethinyl estradiol uses cephalexin side effects in cats cialis 2.5 mg buy generic dapoxetine online amoxicillin dosage and length of treatment side effects of viagra on high blood pressure avodart drug prices sitagliptin phosphate and metformin hydrochloride uses hypothyroidism levothyroxine dosage side effects from sildenafil citrate viagra pills cost viagra pill costume prednisone 4 mg side effects metronidazole side effects cystitis cialis online japan furosemide dosage bnf price of prednisone 10 mg clomid side effects all month clomid side effects while taking major side effects of roaccutane aripiprazole dosage range metformin side effects fetus metronidazole side effects early pregnancy amlodipine besylate side effects mayo clinic cheap mobicosa mental side effects of tamoxifen doxycycline dosage for ticks tenormin dosage forms excessive levothyroxine side effects buy cheap bupropion online pink eye treatment erythromycin dosage nexium common side effects dosage amoxicillin for tooth infection propecia anxiety side effects metronidazole dosage nhs where is the best place to buy viagra online uk albuterol dosage for 6 month old zyprexa side effects forum metronidazole 250 mg price how to purchase mifepristone and misoprostol cipro dosage for tonsillitis abilify typical dosage ciprofloxacin otic drops dosage side effects of metoprolol succ er metronidazole flagyl oral side effects amlodipine cost target side effects missing dose levothyroxine amoxicillin dog dosage weight ampicillin dosage for bacterial culture prednisone side effects double vision meloxicam and side effects order tinidazole what prednisone side effects tamoxifen gyraxen side effects cialis online utah buy viagra israel side effects of coming off of abilify erythromycin and gastrointestinal side effects tamoxifen tablets uses lasix oral side effects xenical reviews side effects what is the cost of cialis at walgreens coming off metoprolol side effects prednisone side effects wbc clomid side effects timing dosage of ampicillin sulbactam clinical uses of indomethacin side effects of viagra in males side effects from taking to much thyroxine kamagra side effects long term side effects after stopping accutane valacyclovir dosage for herpes outbreak azithromycin dosage for whooping cough cephalexin side effects tinnitus buy spironolactone cream australia viagra online sydney lasix dosage for bodybuilding viagra maximum daily dosage buy male viagra buy viagra locally erythromycin pneumonia treatment dosage side effects for ciprofloxacin in dogs metoprolol side effects urination prednisone dosage frequency can u buy zithromax over the counter finasteride side effects after 1 year buy dutasteride online india ciprofloxacin eye drops dosage for dogs buy cytotec bahrain allopurinol dosage dogs ciprofloxacin dosage po amoxicillin side effects swelling tongue aldactone side effects long term dosage of valacyclovir in genital herpes amoxicillin dosage for 33 lbs metronidazole side effects metformin side effects when pregnant does cialis have less side effects than viagra apo nortriptyline dosage dosage of nexium for gerd elavil side effects numbness cytotec for sale cat costa o pastila de viagra in farmacie metformin brand side effects nexium price lebanon viagra pour femme canada us pharmacy viagra prices what is the side effects of synthroid synthroid side effects mayo levothyroxine 0.088mg side effects do you need a prescription to buy viagra in usa ofloxacin ornidazole cream uses clomid side effects bruising side effects of overdose of thyroxine doxycycline dosage prophylaxis malaria ivermectin dogs price accutane side effects on kidneys buy priligy online uk where to buy erythromycin eye ointment dosage of prednisone in cats clomid side effects after o purchase acyclovir kamagra buy with paypal costo de orlistat en mexico what is the cost of misoprostol pill albuterol inhaler 90 mcg price metoprolol tartrate for sale prednisone side effects high heart rate side effects of liquid zithromax where to buy viagra in madrid what if synthroid dosage is too high keflex 500mg dosage for adults side effects of 10mg of amitriptyline real viagra online yahoo answers pfizer offers viagra online nortriptyline 25 mg side effects ciprofloxacin side effects mayo clinic amitriptyline side effects heart compare prices viagra levitra cialis dosage of ofloxacin otic solution Los Angeles & Pasadena Bankruptcy Lawyer Blog

Bankruptcy Discharge vs. Bankruptcy Dismissal

May 20th, 2013

When you file for bankruptcy protection, the ideal goal is to resolve your debts. There are a lot of different ways that you can do that, including Chapter 7, Chapter 11 and Chapter 13. For each of these different types of bankruptcy, debt can be eliminated when certain criteria are met or under certain conditions. A Pasadena bankruptcy lawyer can explain to you the differences in the different types of bankruptcy so you can choose the one that makes the most sense.

No matter what type of bankruptcy you file, however, there are a few possible outcomes that can result from the bankruptcy proceedings. Two of those outcomes include discharge and dismissal. While discharge and dismissal may be similar sounding words, there are very fundamental differences between these two endings to a bankruptcy and anyone filing needs to understand those differences.

Discharge vs. Dismissal

When you enter into bankruptcy, the goal of the filing is generally to discharge debt. This means that the debt is forgiven or wiped clean and is no longer collectable by the company or entity to whom the debt was owed.

When you file for chapter 7 protection, for example, eligible unsecured debts such as credit card debt are discharged at the end of the bankruptcy. Creditors cannot collect, the debts are listed on your credit report as discharged and you are no longer obligated to pay any of those discharged debts. Chapter 11 and chapter 13 can also result in discharge of some debts, although the process is different.

A dismissal, on the other hand, does not mean that any debts are wiped clean. Instead, a dismissal means that the bankruptcy case is dismissed by the judge and does not continue to go forward. Money that you owe or owed on your debts is not forgiven or discharged and creditors can still continue trying to collect the money from you.

When Does a Dismissal Occur?

A dismissal is usually something that you do not want to have happen during your bankruptcy since it will leave your financial problems unresolved. A dismissal can occur when something goes wrong, such as a failure to follow through with the required obligations of your bankruptcy proceedings. A dismissal can also occur if the judge believes you are not eligible for bankruptcy, perhaps because you already filed recently.

Avoiding a dismissal should be a top priority for those who want to go through with bankruptcy proceedings. A Pasadena bankruptcy attorney can help you with your bankruptcy case so you will be able to avoid this undesirable outcome and instead end up with a discharge of your debts.

Posted by Dheeraj Singhal | Permalink
Posted in Bankruptcy Basics

Chapter 11 Bankruptcy Serves as the Model Worldwide

May 17th, 2013

Chapter 11 bankruptcy has long provided solutions for those running businesses in the United States who need assistance in restructuring their debts. With the help of a Pasadena bankruptcy lawyer, many local businesses have been able to climb out of financial trouble to become profitable and successful again.

Those in the U.S. are fortunate to have this type of bankruptcy protection available, as it is not an option to save your business using a Chapter 11 model in many parts of the world. In response to ongoing financial difficulties in Europe, however, the Wall Street Journal indicates that Europe is reshaping its bankruptcy laws and using Chapter 11 as a guide.

The Importance of Strong Business Bankruptcy Laws

The problems in Europe as reported by the Wall Street Journal are highlighting the importance of having strong bankruptcy laws that can allow for businesses to resolve their debt issues in an effective way.

In Europe, there are many distressed businesses. In fact, more than 100,000 companies in Italy had to close last year as a result of financial insolvency. Many of these businesses not just in Italy but throughout all of Europe are faced with clunky bankruptcy laws that do not allow them a chance to refinance or renegotiate debt.

When a business has no options for refinancing or changing the structure of their debt, the business often has no choice but to liquidate when the debt gets to be too much. To give businesses an alternative and hopefully to help keep their doors open, France, Spain, Germany and Italy have all changed their bankruptcy laws over the past year. Many of these changes are based on the Chapter 11 model in the United States, including a change to the use of cram downs.

Chapter 11 is a Viable Solution

Locations throughout Europe are adopting provisions from Chapter 11 bankruptcy because these provisions work.  By allowing companies to turn to an effective insolvency procedure, to change the repayment structure of their debt and to resolve problem debt situations, it is possible to save many businesses from the brink of disaster.

For those companies in the United States that are facing financial strife, it only makes sense to take advantage of this effective and efficient system that is available here. A Pasadena chapter 11 bankruptcy attorney can assist you in determining if a chapter 11 is the right choice for your business and can help you with all of the steps involved in a Chapter 11 bankruptcy so you can get your business back on track.

Posted by Dheeraj Singhal | Permalink

Advice on Finding a Bankruptcy Attorney

May 13th, 2013

Recently, a Consumer Debt Expert for the Huffington Post provided some tips on how to find a great bankruptcy attorney to assist you with your bankruptcy filing.

Finding the right bankruptcy attorney is very important because you want to make sure that your lawyer will truly represent your interests and will help you to move through your bankruptcy effectively and efficiently so you end up in the best possible financial situation when the proceedings are over.

Tips for Finding a Bankruptcy Attorney

The Huffington Post provided many important tips that those considering a bankruptcy filing can use when looking for an attorney to represent them. For example, some of the advice in the Huffington Post’s article included the following:

  • Don’t be afraid to contact bankruptcy attorneys and ask questions if you are considering hiring them to represent you. You need to find a knowledgeable bankruptcy lawyer that you connect with and talking to an attorney is the only way to do that.
  • Pay attention to whether the attorney is willing to discuss multiple different types of bankruptcy with you. The Huffington Post article cautioned that many attorneys just try to push clients towards Chapter 13 bankruptcy because it is easier when other options such as Chapter 7 might  be a better choice. Chapter 13 may make sense for many, especially for those with higher incomes, with lots of assets and for those hoping to resolve issues with mortgages and car loans. However, your attorney should be willing to discuss and consider different types of bankruptcy and should be willing to explain to you why one particular type of bankruptcy makes the most sense for you.
  • Don’t focus on price as the only consideration. It is, of course, important to ensure that you can afford the fees that are charged by a bankruptcy attorney that you are working with. After all, when you are filing for bankruptcy, you are obviously in a bad financial situation. However, a good attorney can help to resolve that bad financial situation while a bad attorney might not be effective. You need to find an attorney who has the skills you need and this should be the major priority, not just cost alone.
  • Look for an attorney who offers good customer service. You want to make sure that you are well treated by your attorney and by those in the office since you will need to work closely with your lawyer during the bankruptcy.

By keeping these tips in mind, you can find the right Los Angeles bankruptcy lawyer for you.

Posted by Dheeraj Singhal | Permalink
Posted in Bankruptcy Lawyer

Forbes Says Chapter 11 Saved the U.S. Economy

May 10th, 2013

In the U.S. today, many companies continue to struggle as a result of ongoing economic problems and uncertainty. However, Forbes suggests that the economy as a whole is in a much better position as a result of Chapter 11 bankruptcy. In fact, a March article published on the Forbes website gives credit for saving the entire U.S. economy to this little-understood chapter of the bankruptcy code.

How Chapter 11 Helped Save the U.S. Economy

The Forbes article addresses the role that Chapter 11 played after the major financial crisis in 2008, discussing the issue with a Harvard Business School professor. The professor is described as an “unabashed advocate of chapter 11 and debt restructuring.”

According to the Forbes article, Chapter 11 is a chapter of bankruptcy that is intended to revive companies and to make a struggling company profitable again.

When the financial crisis happened, the credit market contracted and many businesses were left with insurmountable debts. In fact, according to Forbes, there was $3.5 trillion of corporate debt in default at one point during the crisis. This debt needed to be restructured in order to allow businesses to have liquidity again and in order to allow these businesses to keep their doors open and not to be crippled by their payments.

Chapter 11 allowed this to happen. From 2008 to 2009, a whopping $1.8 trillion worth of public company assets was protected under Chapter 11. This was 20 times more debt restructured under Chapter 11 bankruptcy than in the prior two years.

Because Chapter 11 worked as it should and because restructuring professionals helped these companies to restructure their debt in a way that the businesses could become profitable again, businesses were able to weather the storm and stay open. As a result, balance sheets have recovered, the values of businesses have recovered and the economy as a whole has largely managed to come back although the road has been bumpy.

Can Chapter 11 Help Your Business Too?

With Chapter 11 credited as the savior of the economy after the most significant financial crisis in the U.S. in this generation, many businesses who are struggling may believe that Chapter 11 can help them too to escape the tight spot they find themselves in.

In fact, Chapter 11 often can and is successful at restructuring debt, as this crisis period shows. However, the restructuring must be done right and the business ultimately must be one that can make a profit. A Pasadena chapter 11 bankruptcy lawyer can assist you in making a determination if your business is a good candidate for Chapter 11 bankruptcy.

Posted by Dheeraj Singhal | Permalink

How Long Will Your Chapter 13 Bankruptcy Take?

May 6th, 2013

When you are struggling with unmanageable debts and bills that you cannot pay, you may feel constant stress and every day may seem like an eternity. This is especially true if you are fielding telephone calls from debt collectors or if you are worried about foreclosure or repossession.

If you find yourself in a situation where your debts are taking over your life, filing for Chapter 13 bankruptcy protection may be the best answer for you. Once you decide to file, however, you may wonder exactly how long it is going to take until you are debt free and can move on with your life.

How Long Does Chapter 13 Bankruptcy Take?

When you file for Chapter 13 bankruptcy protection, the bankruptcy process involves completing the initial paperwork, coming up with a repayment plan and having the repayment plan approved. This process can occur over a matter of a few weeks or a few months depending upon the complexities of the case and any challenges you may face in creating your repayment plan. Working with a Pasadena bankruptcy lawyer can help things to go more smoothly so you are able to move through this initial legal bankruptcy phase.

Once you have your payment plan approved, however, your bankruptcy is not yet over and your debts are not yet discharged. This is because Chapter 13 bankruptcy requires you to repay some of what you owe to creditors as part of a repayment plan. The amount you need to pay under your repayment plan is determined by a lot of factors including the amount and types of debts that you have as well as your disposable income.

When creating a repayment plan, the time that you are allowed to repay a portion of your debts can span several years. In fact, in general, bankruptcy debtors who file for Chapter 13 bankruptcy will have a repayment plan that lasts between three years and five years.

At the end of this period, debts that were eligible to be discharged will be discharged and you can move on with your life without the shadow of unpaid debt hanging over you. However, you do need to remember and be aware that it can take three to five years to get to this point. During this time, you will still enjoy a life free of collection calls and stress since you’ll be making payments as required by the bankruptcy.

Still, moving through the bankruptcy as quickly as possible is the ultimate goal for most. Having a Pasadena bankruptcy lawyer representing you and looking out for your interests can help with this by making sure things move as quickly and effectively as possible during your bankruptcy proceedings.

Posted by Dheeraj Singhal | Permalink

Why the Conventional Wisdom on Chapter 11 is Wrong

May 3rd, 2013

If your business is facing financial trouble and you start to consider chapter 11 bankruptcy, you may find stories about how chapter 11 doesn’t really work and about how many companies are not successful after a chapter 11 bankruptcy. In fact, the prevailing wisdom may be that chapter 11 is time consuming, fraught with delays and rarely successful.

The reality, however, is that chapter 11 can be the ideal solution for many companies that are facing financial problems. A study published in the Michigan Law Review in February of 2009 addressed the critics of chapter 11 and is worth taking a look at, especially as it was written by Elizabeth Warren of Harvard Law School who is now a U.S. Senator.

Why the Conventional Wisdom on Chapter 11 is Wrong

Elizabeth Warren’s article published in the Michigan Law Review was also co-authorized by a legal professional from the University of Texas at Austin School of Law.

According to their article, the view of Chapter 11 as a form of bankruptcy “characterized by relatively low success rate and endless delay” is incorrect and the cases from 1994 to 2002 show why it is incorrect.

The big issue is that Chapter 11 is chosen by almost all troubled companies that are facing financial troubles because businesses rarely just want to give up and close their doors. However, in order to actually move through the Chapter 11 process, the business needs to prove that it is viable.

This means that the initial phase of a Chapter 11 bankruptcy serves as a screening process in order to eliminate hopeless cases or businesses that really have no possibility of becoming profitable. As part of this screening, around half of all unsuccessful chapter 11 cases are converted to Chapter 7 bankruptcies or dismissed within six months and around 80 percent are dismissed within a year.

The high rate of dismissals coming so soon after the initial filing shows that these chapter 11 bankruptcies are unsuccessful because chapter 11 was not the right choice for these companies in the first place. It does not show that there is any type of fundamental flaw with Chapter 11 and it does not mean that Chapter 11 cannot save businesses. Instead, it means that a business should always be sure that it can be successful in a Chapter 11 before choosing this type of bankruptcy.

A Pasadena bankruptcy lawyer can assist you if your company is considering Chapter 11 so you can make an informed choice. If Chapter 11 actually is right for you, there is a very good chance that the case will succeed and that your business will be able to emerge from Chapter 11 much stronger.

Posted by Dheeraj Singhal | Permalink

How Does Your Social Security Income Affect Your Chapter 13 Bankruptcy?

April 29th, 2013

When you make too much money to qualify for a chapter 7 bankruptcy or when you do not want your assets sold in a chapter 7, you may file a Chapter 13 bankruptcy. A Chapter 13 bankruptcy, or a “wage earner’s bankruptcy,” allows you to repay some portion of your debts over a 3-5 year repayment period, with the debt payments restructured and with some debts forgiven.

For those filing for chapter 13, it is important to understand what income is considered when determining how much you can afford to repay. One of the common questions that people have when thinking about filing a Chapter 13 is whether their social security benefits will count as disposable income for purposes of determining chapter 13 repayment.

Social Security Income and Chapter 13

For many elderly people, social security benefits are their only income or are responsible for providing the bulk of their income. As such, it is natural and normal for these individuals to wonder if they are going to have to pay out a lot of their social security benefits towards a chapter 13 repayment.  Even those with many other sources of funds may be concerned about the impact that a Chapter 13 will have on their monthly benefits from the SSA.

The general rule, however, is that debtors need not worry that they are going to have to pay out all of their social security benefits towards repaying debt. In fact, when determining a chapter 13 repayment plan, social security income is generally not considered to be disposable income.

Because social security is not classified as disposable income under the Chapter 13 bankruptcy provisions, social security benefits are thus not included in your projected disposable income when assessing how much you can afford to repay in a chapter 13 agreement.

This was affirmed recently in a case by the 10th U.S. Circuit Court of Appeals. The case was called Anderson, Trustee v. Cranmer (In re Cramer) and it took place in 2012.

Determining a Chapter 13 Repayment Plan

Understanding how your social security benefits affect your Chapter 13 repayment plan is just one part of understanding what will be required of you when you file for bankruptcy protection under Chapter 13.

You need to understand your legal rights and obligations and you need to create a repayment plan that you will live with and that the court will approve. An experienced Pasadena chapter 13 bankruptcy lawyer can assist you in all aspects of your chapter 13 case including in crafting a repayment plan that makes sense for you.

Posted by Dheeraj Singhal | Permalink
Posted in Bankruptcy Basics

What Factors Affect a Chapter 11 Confirmation?

April 26th, 2013

When you are filing for bankruptcy protection under Chapter 11 of the United States bankruptcy code, a plan must be created that restructures your business debts and that allows for creditors to be repaid some of what is owed. While your business can eliminate some debts and restructure others, money still must be paid back and your plan must outline how this will be done in order for it to be approved.

When a chapter 11 plan is approved, this is called a “Confirmation.” Many different factors go into whether the bankruptcy court will confirm a chapter 11 or not. A Pasadena bankruptcy attorney can assist you in understanding the key factors and can help you to craft a plan that is likely to be approved.

Factors Impacting Confirmation of a Chapter 11 Plan

Some of the key considerations when determining whether a chapter 11 plan will be confirmed or not include:

  • Whether the plan is feasible. There must be a very good chance for the plan to succeed in order for the plan to be approved by the bankruptcy court. This means you must show that there is a way to raise enough revenue to pay back the creditors as defined in the plan and to meet the expenses outlined in the plan. 
  • Whether approval is in the best interests of the creditors. Typically, in order for a chapter 11 plan to be approved, the creditors must stand to receive as much in repayment if the plan is carried out as they would if the business bankruptcy was converted to a total liquidation Chapter 7 bankruptcy. In other words, your business cannot file chapter 11 bankruptcy if this would result in the creditors getting much less than they would if the business was liquidated.  If you want to keep your business running, you should work with a Pasadena bankruptcy lawyer to ensure that you show why this will be a good thing for the creditors.
  • Whether the plan was proposed in good faith. A plan will not be approved if the court believes that the business has bad intentions or is violating any applicable laws.

If the creditors vote against adopting your proposed chapter 11 repayment plan, then another test will also be applied as well in determining whether to approve the plan.

This test is called the Fair and Equitable test and it looks at whether secured creditors are repaid the full amount of the collateral as well as at other key factors including how much your business is retaining and what business obligations will be fulfilled.

A Pasadena chapter 11 bankruptcy lawyer will assist you in crafting a plan that passes this test and lets you keep the doors of your business open.

Posted by Dheeraj Singhal | Permalink

Can Saying “Sorry” Make a Difference In Your Pasadena Bankruptcy?

March 11th, 2013

Many individuals who file for bankruptcy are not eligible for Chapter 7 and will instead file for Chapter 13 bankruptcy. Filing for chapter 13 requires creating a repayment plan with the help of a Pasadena bankruptcy lawyer.

Your Chapter 13 Repayment Plan: Saying Sorry Can Make a Difference

When you create a repayment plan with the help of your Pasadena bankruptcy attorney, you need to get that plan approved by creditors and by a bankruptcy judge/ If creditors object to the plan or if the judge doesn’t think the plan is fair or appropriate, your bankruptcy will take a longer time and changes may need to be made in order to accommodate their objections.

Obviously, it is beneficial to have your chapter 13 repayment plan approved as written and to have it approved as quickly as possible. When you and your Pasadena bankruptcy attorney create the plan, your payments and the length of the plan will be determined by the types of debt you have, the amount of debt you have and your income. There is some leeway, but creditor and judicial approval is always key.

According to one new study, getting this approval may hinge in a simple act: apologizing. According to an article in the Wall Street Journal, a pair of law professors recently conducted a study in which they presented 137 bankruptcy judges with hypothetical scenarios for a chapter 13 bankruptcy.

In some of the scenarios, the debtor apologized and in other scenarios, no apology was offered. According to the study results, the debtors who offered an apology had a greater chance of having their repayment plans approved. Furthermore, the judges were also more lenient and permissive in permitting certain discretionary expenses for these debtors, such as gymnastics lessons for a child, as compared with debtors who did not offer apologies.

This study shows that it is often the little things that count when it comes to filing for bankruptcy successful. Of course, it is very important to pay attention to every detail in the forms, the filing and the creation of your repayment plan. A Pasadena bankruptcy lawyer will help you to make sure that you have focused on the technical and legal details. Offer an apology may be just one more thing that you can do in order to help your bankruptcy go as smoothly as possible.

Posted by Dheeraj Singhal | Permalink
Posted in Bankruptcy Basics

Could a New Bill Make Student Loan Interest Dischargeable in Bankruptcy?

March 8th, 2013

Glendale bankruptcy lawyers see people and business struggling with all types of debt, but one of the most pervasive and troubling is student loan debt. Students may have hundreds-of-thousands of dollars in student loan debt to cope with, and when they have difficulty finding jobs they may be completely unable to even begin to tackle this huge debt burden.

In early January of 2013, democratic lawmakers proposed the Fairness for Struggling Students Act of 2013 in an attempt to deal with the crushing student loan debt problem faced by so many young people in the United States. This Act would make an important change to bankruptcy laws passed in 2005 that made it almost impossible to discharge student loan debt in bankruptcy.

The Fairness for Struggling Student Act

The Fairness for Struggling Students Act of 2013, S.114, was cosponsored by Senators Dick Durbin; Sheldon Whitehouse and Jack Reed. Durbin’s office released a statement indicating that the law was “unjustifiably changed” to provide private student loans with the same treatment under bankruptcy as government loans. The new Act would return the rules to the pre-2005 laws which allowed for the discharge of private student loans, which Glendale bankruptcy lawyers would be a great thing for those who are having a hard time due to student loan debt.

Unfortunately, Durbin introduced a similar piece of legislation in the previous legislative year and the legislation was not successful. There is little hope that it will be successful in this upcoming legislative session. However, if the change were made, it would provide important protections to students coping with student loans.

Private student loans are, in almost every way, a more burdensome debt than government student loans. Government loans typically have lower interest rates and have special repayment plans that allow you to set your payments as a percentage of your income. If you are unable to pay the loans off over 25 years, the remaining balance is discharged. Government loans can also be put into deferment or forbearance when you are coping with financial issues. Many private loans do not offer these special terms or protections.

By allowing for the discharge of private student loans in bankruptcy under more circumstances, many students who are coping with crippling debt would thus find a measure of relief that is currently being denied to them.

A Glendale Bankruptcy Lawyer Can Help With Your Student Loans

If you are struggling with student loan debt, the current bankruptcy rules make it very difficult to get the debt discharged. However, it is not necessarily impossible. A Glendale bankruptcy lawyer can help you to determine if you are eligible for a hardship discharge and can fight on your behalf to get your student loan debt discharged in bankruptcy.

Posted by Dheeraj Singhal | Permalink
Posted in Bankruptcy Basics