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More Indiana Residents are Filing Under Chapter 13

Over the past few years, a growing number of Indiana residents have filed under Chapter 13 to help them with unmanageable debt. Chapter 13 is more complicated than Chapter 7, but it also prevents the liquidation of valuable assets during your bankruptcy. In some cases, an individual may have too much equity in their home...

“Chapter 20” Bankruptcy in Indiana

There is no actual “Chapter 20” bankruptcy under the law. However, when Chapter 7 or Chapter 13 bankruptcy is not enough to deal with your debts, you may be able to file both at the same time. The process is known colloquially as Chapter 20 bankruptcy, as it combines the two forms of bankruptcy into...

WeWork Signals That They Will Likely File for Bankruptcy

WeWork is a company that provides office space to other companies. Its net worth at one point was estimated at $40 billion. However, a number of pressures have forced the company to consider filing for bankruptcy. These include the COVID-19 pandemic, which caused many employers to operate with remote personnel and exit their leases with the...

Filing for Divorce and Bankruptcy: How Does That Work?

It is no secret that marriages falter when finances become stressful. For that reason, divorce and bankruptcy often go hand-in-hand. Financial stress is rated the second leading cause of divorce, behind adultery. Many couples that go through a divorce have commensurate financial issues as well. Divorce can seem like one more stressor on top of...

Trucking Company Signals Potential Bankruptcy

According to a recent news article, one of America’s largest trucking companies, Yellow, has signaled that it may be filing for bankruptcy. Several of its customers abandoned the company amid the Teamster’s strike, increasing the risk that the company would face mass liquidation if it went bankrupt. This could put employees at risk of layoffs...

Creditor Sues, But Defendant Has No Idea Where Debt Came From

An Oregon woman was shocked and confused when she faced a lawsuit related to consumer debt. A debt of $2,100 showed up on her credit report, and she had no idea where it came from. To make matters more confusing, the debt contained outdated information. It listed her former address in California and a last name that...

What Assets are Subject to Liquidation in Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as liquidation bankruptcy, allows creditors to liquidate some of your assets to repay the amount owed. In most cases, those filing under Chapter 7 are already struggling and don’t necessarily have major assets on which to draw. However, equity in your home or your vehicle is also subject to liquidation,...

Christmas Tree Shops Defaults on Bankruptcy Loan, Headed for Liquidation

The beloved retail chain Christmas Tree Shops is headed for liquidation, according to a recent news report. The chain had entered into a Chapter 11 bankruptcy and had planned on selling off a small number of stores that were not doing well. However, the chain defaulted on its $45 million bankruptcy loan and has since announced plans...

How Co-Parenting Apps for Divorced Couples Can Streamline Parenting Time

One of the most anxiety-inducing aspects of divorce is co-parenting. Parents are expected to coordinate their schedules with that of their former spouse’s schedule and their children’s schedules. Last-minute changes to the schedule, and you may not be able to see your children at all. To take away some of the pain associated with maintaining...

Instant Pot and Pyrex Maker File for Chapter 11

Instant Brands, the company that owns Instant Pot and Pyrex Maker glassware, has filed for Chapter 11 in Texas, according to a recent press release. The company blames the COVID-19 pandemic and supply chain issues for putting them nearly $1 billion in debt. High interest rates and waning access to credit were also factors in the Chapter...