In The (Red)®

In The (Red)®

The Business Bankruptcy Blog

Tag Archives: individual

Major Overhaul Of Federal Bankruptcy Forms, Plus An Accompanying Rule Amendment, To Take Effect December 1, 2015

Posted in Business Bankruptcy Issues, Recent Developments
Almost every year, changes are made to the set of rules that govern how bankruptcy cases are managed — the Federal Rules of Bankruptcy Procedure. The changes address issues identified by an Advisory Committee made up of federal judges, bankruptcy attorneys, and others. Often there are revisions to the official bankruptcy forms as well. One… Continue Reading

No Fooling: Bankruptcy Code Dollar Amounts Will Increase On April 1st

Posted in Business Bankruptcy Issues, Recent Developments
Although it hasn’t gotten much publicity, certain dollar amounts in the Bankruptcy Code will be increased for cases filed on or after April 1, 2007. You can find a chart listing all of the changes on this Federal Register page, which printed last month’s official notice from the Judicial Conference of the United States.  Among the most meaningful for business… Continue Reading

The Supreme Court’s Recent Decision In Marrama: Any Insight Into Business Bankruptcy Issues?

Posted in Business Bankruptcy Issues, Recent Developments
On Wednesday the U.S. Supreme Court issued its decision in Marrama v. Citizens Bank of Massachusetts. The Supreme Court answered the question of whether an individual has an absolute right to convert a Chapter 7 bankruptcy case to a Chapter 13 "wage earner" bankruptcy case or whether that right can be conditioned on the absence of bad faith. This… Continue Reading

Claims Against Individuals In Bankruptcy: Is Every Debt Discharged?

Posted in Business Bankruptcy Issues
Usually, businesses have claims against other businesses.  Still, you may occasionally have a claim against an individual and it’s good to know what can happen in that situation.  The "no asset" case. Unfortunately, most individuals who file bankruptcy, especially those who file the more common Chapter 7 liquidation case, do not have any significant assets that… Continue Reading