When it comes to filing for bankruptcy, some Los Angeles residents may think it is a very easy process — as if someone can just up and file without much hassle. Other residents may think it is more complicated than it actually is, and thus incorrectly decide that bankruptcy is not the route for them.
Is your tax debt part of your overwhelming debt? You may have heard that you can discharge tax debt through bankruptcy, but which taxes can you discharge?
Approximately 18 months after the Federal Deposit Insurance Corp. seized the assets of First Regional Bank in Los Angeles, its holding company, First Regional Bancorp, has filed for Chapter 11 bankruptcy. At the time of the seizure, First Regional Bank had $2.18 billion in assets. The FDIC forced a sale to First Citizens Bancshares, Inc.
If your business is facing significant debt, it may seem like it will never surface as a productive entity. This is especially true if you expanded too quickly and now find yourself facing lease issues in addition to normal business debt.
Many people who are in long-term relationships are putting off marriage because at least one of the parties has significant debt. This is especially true in today’s economy, where school loans and few job offers have led to overwhelming debt for a large number of young people.
Loan modification is the process of negotiating with your lender to reach agreement on modifying the terms of repayment of your existing home mortgage to enable you to continue making your payments despite some hardship that you and your family may be experiencing.
Last year, the internet was abuzz after Hostess Brands filed for Chapter 11 bankruptcy. People feared that their beloved sponge cake treat, the Twinkie, would disappear forever as a result of the bankruptcy (far fewer tears were shed for Ho Hos and Ding Dongs). The fears were legitimate — but it appears they have been allayed, as a couple of ...
The Orantes Law Firm was recently engaged to take over the languishing reorganization of a luxury hotel in Toledo, Ohio. The Firm is currently writing and negotiating the terms of a plan of reorganization that will ideally allow the hotel to exit Chapter 11 within about three months, which is the minimum time the law would allow.
Credit cards can be a dangerous trap. With high interest rates and low minimum monthly payments, it is easy to believe that you just need a little more time to pay them off. But eventually you get to a point where you need to start looking for real solutions.
In the aftermath of the recession, many small business owners have found themselves in difficult positions – unable to pay their bills and uncertain about the future. When faced with such a trying situation, it is important to understand the options available to regain solid financial footing. For many business owners, filing for Chapter 11 bankruptcy provides a way to ...
