Upon filing of a bankruptcy, certain actions of creditors are automatically stayed from collecting pre-filing claims. This stay serves two main functions: First, it allows the debtor some breathing space to see if it can reorganize and retain some or all of the assets, continue its business, stop foreclosure, or resume mortgage payments. Secondly, it levels…
As we approach the new year, what better way to start fresh than by becoming debt-free? With C. Stephen Gurdin Jr.’s guidance and expertise, you can embark on this journey towards a debt-free new year with confidence and peace of mind. When it comes to navigating the complex field of bankruptcy law in Northeastern Pennsylvania…
The 341 Meeting under section 341 of the Bankruptcy Code … The debtor must appear and submit to oral examination, under oath, at a meeting of creditors convened (called brought together and conducted) under section 341 of the Bankruptcy Code. The meeting is convened (called and brought together and conducted) by a trustee appointed by…
Pennsylvania Chapter 7 Bankruptcy Protection – Our economy has left many Americans finding themselves in a constant struggle to make ends meet. If you have lost your job, own your own business, are behind on your car or mortgage payments, or are simply swimming in credit card debt, declaring bankruptcy can help you begin to…
CHAPTER 11 CLAIMS AND INTERESTS – Claims and interests are classified in order to allow treatment which recognizes differences in the rights of creditors and to treat these according to the facts of the case. Similar claims and interests are given similar nondiscriminatory treatment which follows sound business reasoning. However, some discrimination is permitted if…
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