Orantes Law Firm
Orantes Law Firm Engaged to Propose Chapter 11 Plan for Luxury Hotel
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.
When someone is facing foreclosure, anything that promises to help them save their home can seem like a good option. Unfortunately, that is exactly what some criminals want debtors to think.
One Canadian criminal was recently indicted in a foreclosure scam that affected nearly 800 people in Southern California. The man convinced victims that his plan would postpone their homes’ foreclosure sales as long as they could pay him a $700 fee.
Working with the members and trustees of the Church and with the cooperation of its mortgage holder, which initially resisted the process, the Orantes Law Firm succeeding in obtaining an order from the Hon. Bankruptcy Judge Peter Carroll confirming the Church’s plan of reorganization. Among other things, the Plan discharges approximately 97% of the Church’s unsecured debt and saved the Church building.
In a surprising study, two university professors have found that giving incentive bonus plans to managers during a Chapter 11 bankruptcy can actually improve the outcome of the bankruptcy, including the amount of money creditors receive in a bankruptcy.
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.
The Department of Education and the Consumer Financial Protection Bureau have asked Congress to consider allowing students to discharge their private student loans through bankruptcy. Most students have not been able to discharge these loans since the Bankruptcy Code was amended in the early 2000s.
If you are considering filing for bankruptcy, you might wonder what you should do about your credit card debt. You should know that it is generally not advisable to pay off your credit card debt or to continue to use your credit cards prior to filing for bankruptcy.
Medical bills have a way of piling up, easily overwhelming a family who was otherwise in a very comfortable financial state. Unfortunately, medical bills are typically costly and unexpected, yet cannot be avoided once medical care is necessary. On the upside for those facing mounting medical bills, typically the debt is not submitted to credit reporting agencies for several months.
When you went through bankruptcy, you probably figured that it would be your last financial hurdle. Now, something has happened that has put you right back in the same financial distress you faced before, such as a medical emergency, job loss or unexpected divorce.
Filing for bankruptcy is an important and necessary step for many individuals, although it is not always the easiest or quickest process. Those filing for bankruptcy must sift through the particulars, including amounts of filing fees,