Creditor

Harris S. Ammerman, ESQ has filed many bankruptcy cases over the years. This experience has revealed many individuals who, haveing dealt with less knowledgeable attornies, who suffered unfortunate outcomes. These individuals made significant but avoidable mistakes. During a bankruptcy, even a small mistake can have a cost. In order to help you avoid jeopardizing your outcome, ensure you avoid these common bankruptcy mistakes. 1. Listening to Freinds and Family - All too often, people look to…

National Bank or be honest with them and ask for an extension to pay the interest amount. This is an important issue for the company because bills over $12,000-$15,000 are due and the company’s cash reserves are depleted. Top Notch will get sued by its creditors so there is an ethical dilemma for the company to lie and get the funds or be honest and ask for extension. An ethical issue presented to the President and Vice…

Like others in Washington, DC who are struggling with overwhelming debt, you may have considered filing for Chapter 7 bankruptcy. This option is not always right for every person and situation, however. Understanding the pros and cons of declaring Chapter 7 bankruptcy may help you determine if this is the right option for you. One of the largest disadvantages of Chapter 7 bankruptcy is that not everyone is eligible. According to the United States Courts, some of the eligibility requirements for…

First of all, debt ratio which was meant to measures the proportion of total assets financed by the firm’s creditors shown Nestle would have to sell off 61% of its assets in order to pay off its liabilities in both year. The situation in Dutch Lady become worse from 2012 to 2013 as it increase from 0.46 : 1 to 0.55 : 1 due to the increase in total liability.…

An evaluation will be made to demonstrate how Jeb’s personal creditors would be able to collect on his debts and to seize the assets and/or profits from Arcadia Sports based on whether each business is a sole proprietorship, partnership, a corporation, and a limited liability company. First, under a sole proprietorship, Jeb’s creditors would be able to seize all of his personal assets, his home and all of the profits from Arcadia Sports. The reason…

Volti believes that work is the “central activity in the lives of most people.” Understanding the Sociology of work is important, because work takes up so much of our lives. Where we work, what we do at work and who we work for are characteristics of our identities and determines who we make our friends. When work is boring, the workers feel undermined and this perpetuates a culture that exploits the proletariat/workers and adds value to the capitalist/firm. My subject, my mother, described…

Samuel v. Marcus Preliminary negotiations Preliminary negotiations are merely an invitation to deal. In January, Marcus contact Samuel to secure a condo in Hawaii for July 1,2,3,4, & 5th for his corporate annual meeting and party. Thus, Marcus was inviting Samuel to negotiate a deal to secure a condo. Offer An offer is an outward manifestation of present contractual intent to be bound by contractual agreement with definite and certain terms communicated to the offeree. Marcus called…

Attending court, for many individuals, is a highly stressful event. The main reason for the anxiety associated with going to bankruptcy court, or any other court hearing, derives from the uncertainty of the outcome. Hopefully, with additional information about what usually happens in bankruptcy court can curb some of the angst associated with using the US Bankruptcy Code to obtain relief from extreme debt. How Bankruptcy Court is Different In criminal court, there's a prosecutor and a…

owned by collection agencies. Check Your Credit Report for Errors: If your credit report contains errors, it will unfairly lower your credit score. Obtain free annual credit reports from Equifax, Experian, and TransUnion, and check to make sure creditors are not…

Second Bankruptcies-Should or Should Not? Poor financial decisions, recessions or the loss of a job can happen at any time during a person’s life. These times may happen more than once in a person's life and require considering many less than ideal options. Sometimes filing a second bankruptcy is a way to wipe the slate clean once again. A person can only file Chapter 7 bankruptcy and receive a bankruptcy discharge once during an eight year time period. So, while filing another bankruptcy…