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What is a Chapter 11 bankruptcy?

What is a Chapter 11 bankruptcy, do they ever happen in Brooklyn, NY, and do I need Chapter 11 bankruptcy attorneys to file a Chapter 11 case? 1.  Chapter 11 bankruptcy is “reorganization,” as opposed to Chapter 7 “liquidation.”  It’s frequently  used by corporations that need bankruptcy protection.  And it’s also often used by individuals

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THE SMALL BUSINESS REORGANIZATION ACT OF 2019, PLUS THE CORONAVIRUS STIMULUS BILL, MAKE IT EASIER FOR CONSUMERS AND SMALL BUSINESSES TO FILE FOR BANKRUPTCY

The Small Business Reorganization Act, signed into law by President Trump in August 2019, became effective on February 19, 2020, shortly before the coronavirus struck hard in the U.S. By the end of March 2020, Congress had enacted, and President Trump had signed, the $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act),

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THE SMALL BUSINESS REORGANIZATION ACT OF 2019, PLUS THE CORONAVIRUS STIMULUS BILL, MAKE IT EASIER FOR CONSUMERS AND SMALL BUSINESSES TO FILE FOR BANKRUPTCY

The Small Business Reorganization Act, signed into law by President Trump in August 2019, became effective on February 19, 2020, shortly before the coronavirus struck hard in the U.S. By the end of March 2020, Congress had enacted, and President Trump had signed, the $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act),

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BANKRUPTCY AND THE PANDEMIC

The coronavirus pandemic has been a disaster for the U.S. economy. Countless people have lost jobs and have filed for unemployment. Restaurants and bars have been closed for months, and social distancing means their customer load will be cut at least by half if, and when, they re-open. Looting, during the protests after the murder

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NEW CORONAVIRUS STIMULUS BILL MAKES IT EASIER FOR CONSUMERS AND SMALL BUSINESSES TO FILE FOR BANKRUPTCY

The $2 trillion “Coronavirus Aid, Relief and Economic Security Act” (CARES Act), signed into law by President Trump on Friday afternoon. provides financially distressed consumers and small businesses with greater access to bankruptcy relief. Key bankruptcy provisions within Section 1113 of the CARES Act include: Amending the Small Business Reorganization Act of 2019 (SBRA) to

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Stay Clear of Payday Lenders, Bankruptcy Is So Much Safer

For too many people, bankruptcy feels like giving up. Choosing other, riskier options may make them feel as though they’re still in control, and who knows? Maybe things will turn around for them. They run down their savings, rely on credit cards, and then as a last resort make a visit to a payday lender.

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Note to New Yorkers: “Charged Off” Debt is NOT “Zombie Debt”

“Zombie debt” is a debt you no longer owe that a collector has bought from a creditor nonetheless—for a fraction of the price. The collector then tries to enforce the debt you no longer owe, hoping you’ll repay it. Elsewhere, you may have heard the term, “charged off debt,” and wonder if it’s the same

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How to Deal with “Zombie Debt” Collectors in New York

At some point, if it believes it will never be repaid, the original bank that makes a loan will sell it to a debt collection company. The loan will be bundled with numerous other ones in the sale, and the price will be a fraction of the total value of the loans. Because of the small

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