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Renters facing eviction should consider filing for bankruptcy in order to buy more time to make a financial decision, says consumer finance and tax attorney, George Tadross.
Several types of debts are included in an automatic stay, including protections against foreclosure, eviction, utilities, government benefits and most wage garnishment. If you are considering ...
Chapter 7 of Title 11 U.S. Code is the bankruptcy code that governs the process of liquidation under the bankruptcy laws of the U.S. In contrast to bankruptcy under Chapter 11 and Chapter 13, which govern the process of reorganization of a debtor, Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. [1]
The trustee often takes a commission of up to 10 percent, adding to the cost of this form of bankruptcy. The long-term costs of bankruptcy Beyond the immediate cost of bankruptcy, filing can have ...
Increased attorney liability and costs. Attorneys representing bankruptcy filers are now required to conduct an investigation of their clients' filings and can be held personally liable for inaccuracies. Most bankruptcy attorneys predicted that this will result in increased attorneys fees and will make attorneys less likely to take on some cases.
In December 2020, the New York State Legislature passed a state moratorium on evictions. [11] In May 2021, the legislature extended the moratorium until August 31. [12]The Supreme Court struck down a provision of the state moratorium that protected people who filed a form declaring economic hardship, rather than providing evidence in court.
Aug. 21—Several local counties saw big increases in eviction filings last year — Butler County had the highest eviction rate in the state, and Montgomery County had the most new eviction cases ...
The chain filed for its second bankruptcy and liquidation on August 7, 2019, [12] closing the remaining 54 stores [13] with plans to auction its intellectual property. [14] ALDO filed for bankruptcy on May 7, 2020, citing repercussions related to the COVID-19 pandemic as to why. [15] The shoe chain emerged from bankruptcy two years later. [16]
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