Bankruptcy Fraud

Many Americans today are struggling with their finances. Each year it is estimated that there are over 500,000 families across the United States that will end up filing for a bankruptcy. This number may come as a shock to you but we want you to be aware of the facts that filing for a bankruptcy is nothing to be ashamed or scared about. Filing for bankruptcy is more common than most people may think. In this article we are going to discuss the topic of Read More +

Tampa Bankruptcy Court

Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to talk about some facts about the Tampa Bankruptcy Court that will hopefully answer some of the most common questions in regards to the Tampa Bankruptcy Court that you may have. Location The Tampa Bankruptcy Court is currently located at 801 N Florida Ave, Suite Read More +

The Average Millionaire Filed Bankruptcy 3.5 Times?

Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. A common statement in the bankruptcy world is that, “the average millionaire will file for bankruptcy 3.5 times in their lifetime.” In this article, we are going to discuss this topic of how many times millionaires will file for bankruptcy in America? Millionaire Facts In this section we are going to Read More +

Top 10 Celebrities Who Filed Bankruptcy

Going through a bankruptcy can be a stressful and time-consuming situation. We at The Weller Legal Group are here to help make the bankruptcy process easier and more efficient for you and your family. In this article we are going to talk about 10 celebrities who have filed for bankruptcy in their lifetimes. Mike Tyson Starting off the list we have the former world heavyweight champion Mike “The Baddest Man on the Planet” Tyson. Over his fighting career he has had a total of 58 Read More +

Five Benefits Of Filing Bankruptcy

Each year, a multitude of individuals, families, and small businesses are faced with the decision as to whether or not Chapter 7 Bankruptcy is a viable course of action. Alternatively, a Chapter 13 filing may be a better course of action for some who may not qualify for Chapter 7 relief. And, for some businesses and certain individuals, a Chapter 11 petition may be the right course of action. In any given situation, one of the three may be the better decision depending upon a Read More +

Should I File For Bankruptcy? – Reasons Why Bankruptcy May Be Right For You

The decision to file for bankruptcy is a tough one no matter how you cut it. Going through the bankruptcy process takes time and money. Once a petition is filed, a person’s entire financial situation is a matter of public record and open to others. The process will take an emotional toll on the filer and his/her family and loved ones as well. So – again – the decision to file for bankruptcy is a tough one. One that should not be taken lightly and Read More +

Bankruptcy Abuse Prevention & Consumer Protection Act Of 2005 (bapcpa) Part Ii

Part II – Changes in Bankruptcy Law [See related articles on this blog: The Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA), “Part I, Rationales” &Part III The “Means Test in Bankruptcy”] The enactment of the Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA) in April, 2005, wrought significant changes in the law embodied in Chapter 7 of the United States Bankruptcy Code. Changes were also affected in Chapter 13 of the code, but such changes in that section were not as broad or as Read More +

Gibson Brands, Inc. Dba Gibson Guitars Secured Bondholder Recovery In Bankruptcy Court

*** SECOND UPDATE *** According to a filing in U.S. Bankruptcy Court, the secured bondholders of Gibson Brands, Inc. bonds are set to receive 56 cents on the dollar for the $383 million in debt that they hold in the iconic guitar maker’s business. Senior secured bondholders, led by KKR & Company, were informed in a court filing yesterday (July 12, 2018) that such recoveries will come from Gibson under its Chapter 11 reorganization plan. The same bondholders are currently providing financing to Gibson during Read More +

Business Bankruptcy

A business bankruptcy can take a number of forms. In a Chapter 7, a corporation may file bankruptcy in order to seek the orderly liquidation of its enterprise. In a Chapter 7 bankruptcy, generally the corporation is liquidated and ceases its business functions. The assets of the business are sold and distributed among the creditors of the corporation. Despite the belief of many, including many bankruptcy attorneys, a corporation does not receive a discharge in a Chapter 7 bankruptcy. There are benefits for a corporation Read More +

What Is Chapter 12 Bankruptcy?

Chapter 12 bankruptcy is a type of bankruptcy specifically fashioned to either family farmers or fishermen seeking to reorganize or consolidate their debts through bankruptcy proceedings. The most commonly filed Chapters of bankruptcy are Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 12 bankruptcy is probably one of the least commonly filed forms of bankruptcy. Even Chapter 11 bankruptcy or corporate reorganization, is probably more commonly filed than Chapter 12 bankruptcy. Chapter 9 bankruptcy, which involves the reorganization of the debts of a municipality, may Read More +