A small detail in Deutsche Bank's loans to Donald Trump's real-estate business has turned into a headache at the bank, as its effort has stalled to restructure part of the $300 million or so in debt. ... Read full article
It doesn’t happen very often, but sometimes a client who needs to file bankruptcy is also in line to receive an inheritance. Like a lot of things, what will happen to that inheritance in a bankruptcy case depends on the timing. ... Read full article
In re Majestic Star Casino, LLC, F.3d 736 (3rd Cir. 2013) , the U.S. Court of Appeals for the Third Circuit broke from other courts by holding that S corporation status (or “qualified subchapter S subsidiary” or “QSub” status) is not property of the ... Read full article
By Eugene Kim In re Majestic Star Casino, LLC, F.3d 736 (3rd Cir. 2013) , the U.S. Court of Appeals for the Third Circuit broke from other courts by holding that S corporation status (or "qualified subchapter S subsidiary" or "QSub" ... Read full article
Consumer protection lawyers like me are wrongfully trained to hate all debt collectors. ... Read full article
After filing bankruptcy people are often interested in trying to rebuild their credit, and a Chapter 7 or Chapter 13 bankruptcy can be a good first step to repairing your credit. ... Read full article
Often, the final trigger leading a client to call me is getting suedfor a credit card. Fear !! Scarlet Letters!! Branded For Life!! The suit can be a good thing. You have defenses, and now you start planning for your financial fresh start instead of ... Read full article
The Basics of Credit Card Debt and Bankruptcy In an economy where housing problems dominate the headlines, high interest credit cards still remain one of the largest issues consumers face in their fight for financial health. It should come as no surprise ... Read full article
A debtor can obtain a discharge of debt by filing for bankruptcy. A discharge of debt releases the individual’s personal liability for many types of debts. A discharge prevents creditors from making any collections efforts upon the debtor including phone ... Read full article
The Fifth Circuit has upheld a Texas bankruptcy court's order recharacterizing the ostensible debt of a non-insider as equity. Matter of Lothian Oil Incorporated , No. 10-50683 (5th Cir. 8/9/11). Unlike other circuits to consider the issue, the Fifth ... Read full article
Paying back debts after bankruptcy Filing for bankruptcy eliminates your personal liability for debts. Once you receive the discharge order from the court none of your creditors can come after you for what you previously owed. This is the law, creditors ... Read full article
Debts discharged in bankruptcy do not trigger tax liability Most everyone knows that filing for bankruptcy eliminates credit card debt, medical bills and other unsecured loans. However, a significant benefit of filing, that is rarely discussed, are the tax ... Read full article
The Fifth Circuit has upheld a Texas bankruptcy court's order recharacterizing the ostensible debt of a non-insider as equity. Matter of Lothian Oil Incorporated , No. 10-50683 (5th Cir. 8/9/11). Unlike other circuits to consider the issue, the Fifth ... Read full article
Most people know that Chapter 7 allows you to wipe out unsecured debt – credit card bills, medical debt and other ... Read full article
