Atlantic City isn’t the only place where the gambling industry has collapsed, and the host area may well collapse along with it. Lawyers for Caesar’s Palace in Las Vegas are scheduled to be back in an Illinois courtroom to explain why their client … [Read more...]
Crisis Deepens In Atlantic City
A source close to the financial imbroglio in America’s Favorite Playground says that a Chapter 9 bankruptcy is “inevitable,” adding that the city “should have filed bankruptcy a year and a half ago.” The official report from the state-appointed … [Read more...]
Should I File Chapter 7 Or Chapter 13 Bankruptcy?
In a way, both these programs are very much the same. They use the same basic forms and the same judge may hear both types of cases. Most importantly, they both share the same goal. Once the judge issues a discharge order, the debtors and their … [Read more...]
Rebuilding Credit After Bankruptcy
Bankruptcy is one of the most negative events that can appear on a consumer credit report. Anyone who tells you otherwise is either sugar-coating the truth or is not very experienced in these matters. The key phrase is “one of” the most negative … [Read more...]
White House Unveils New Student Loan Initiative
President Barak Obama announced the signing of the “Student Aid Bill of Rights” before an enthusiastic crowd of over 9,000 supporters at Georgia Tech University. In a similar move, President Obama directed the Treasury Department, Education … [Read more...]
Lessons From The Bench
A recent opinion from Judge Michael Kaplan offers valuable insight into a pair of issues that haunt many Chapter 13 debtors. Funding a Chapter 13 Plan In Re Andolino began when Christopher Andolino filed Chapter 7 Bankruptcy in April 2013. About a … [Read more...]
The Check Is In The Mail
As of February 20, the IRS says it processed about 50 billion 2014 income tax returns. 83 percent of these filers received an average refund of $3,120. The number may be somewhat skewed, since taxpayers who anticipate large refunds tend to file … [Read more...]
Is Atlantic City The Next Big Municipal Bankruptcy?
Two prominent Wall Street rating firms recently downgraded Atlantic City to near-junk status, after Gov. Chris Christie appointed an emergency management team to handle the finances of America’s Favorite Playground. Last month, both Moody’s and … [Read more...]
Don’t Let This Happen To You
A pair of recent decisions have some important lessons for your Chapter 7 Bankruptcy case, because they both deal with very common issues. The Wrong Place In Okechuku v. Sharp Management, a New Jersey sheet metal company filed a voluntary Chapter 7 … [Read more...]
Congress To Reconsider Student Loan Dischargeability
A Maryland Democrat wants to turn back the clock to the disco days of the mid-1970s, at least as far as student loans are concerned. Last month, Maryland Democrat John Delaney introduced House Resolution 449, which would remove paragraph 8 from … [Read more...]
