Jump to Navigation

October 2018 Archives

How bankruptcy can provide protection from creditors

Residents of Rockland County who are experiencing financial difficulties, especially from significant credit card debt, are often told that bankruptcy can protect them from creditors. While this statement is generally correct, the "how" of this protection is often a mystery for some people. For most individuals who file a petition in bankruptcy, the strongest protection is provided by the automatic stay, a court order that is issued automatically when a bankruptcy petition is filed.

Sears bankruptcy will have varied impacts on others

By now, the news of the bankruptcy filing by Sears is well known. Many Sears stores will close, and many employees will lose their jobs. But, what about firms that sell goods and services to Sears or rent space to Sears? Preliminary analyses of the retail market appear to show that some firms will benefit from the Sears bankruptcy and others will be harmed. The extent of both harmful and beneficial effects cannot yet be measured with fine accuracy, but preliminary studies of Sears' situations provide a few informative hints.

Retailing icon Sears on verge of bankruptcy

Another retailing icon appears to be edging toward a bankruptcy filing. Sears, one of the most recognized names in American retailing, is expected to file a business bankruptcy petition. The decline of Sears appears to be the result of a changing retail climate in the country and a serious of questionable management decisions.

Taxation of debts cancelled in bankruptcy

Most residents of Rockland County have never heard of cancellation of indebtedness income. The common perception is that when a creditor cancels a debt, that's it. The debtor is completely off the hook, and nothing more needs to be done. Unhappily, that is not the case.

Jurisdiction of U. S. bankruptcy courts

Rockland County businesses and individuals who are contemplating the filing of a petition in bankruptcy court rarely stop to wonder why Congress created a special court to handle bankruptcy cases. The creation of bankruptcy courts and the defining of their jurisdiction is a long and complicated history. A review of the last several decades of this history may help our readers understand why the bankruptcy court is different from other U.S. courts.

Subscribe to This Blog's Feed

CONTACT US

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

FindLaw Network

Memberships

Law Office of Ronald V. De Caprio BBB Business Review

Location

Law Office of Ronald V. De Caprio 65 West Ramapo Road Garnerville, NY 10923 Phone: 845-406-4201 Toll Free: 866-936-8113
Map & Directions