Post Tagged with: "Chapter 7"

Recent Cherrett case and bankruptcy means test requirements

Recent Cherrett case and bankruptcy means test requirements

Individuals filing a chapter 7 bankruptcy petition are subject to the bankruptcy means test to determine whether an individuals’ income is sufficiently low enough to qualify for chapter 7 bankruptcy relief.  Where an individual’s income is deemed too high under the means test, a chapter 7 bankruptcy filing may not […]

In choosing a Chapter 7 bankruptcy lawyer, avoid this expensive mistake

In choosing a Chapter 7 bankruptcy lawyer, avoid this expensive mistake

  As with most things in life, when hiring a lawyer, you typically get what you pay for.  Hiring a Chapter 7 bankruptcy lawyer that provides discount fees can often be the most expensive mistake that an individual can make in the bankruptcy process.  Discount fees are often provided by […]

Pre-bankruptcy transfers can cause a business’s reorganization to fail

Pre-bankruptcy transfers can cause a business’s reorganization to fail

Where a business is acting as a debtor-in-possession (debtor) in a Chapter 11 bankruptcy case, to confirm a plan of reorganization, the debtor must provide a method for creditors to capture any value from the debtor’s pre-bankruptcy transfers that may be avoidable under the Bankruptcy Code. Val-Mid Associates, LLC’s Unsuccessful […]

What happens at a 341 meeting of creditors?

What happens at a 341 meeting of creditors?

With each Chapter 7 bankruptcy filing in Arizona, a Chapter 7 bankruptcy trustee is appointed from a panel to administer the case. Among other things, the trustee’s job is maximize the value of assets available for distribution to creditors, and investigate fraud, assets, and transfer issues.  The 341 meeting of […]