A Guide to Receiverships

A receivership is one method of avoiding bankruptcy for your company. It can sometimes get you back on track to financial prosperity. So what is a receivership? A receivership is the appointment of a receiver. A receiver is a trustee who is appointed to look after a struggling company’s assets and/or business operations. They generally […]

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Chapter 12 Bankruptcy: What You Need to Know

Chapter 12 bankruptcy is aimed specifically at family farmers and fishermen, and it allows for a reorganization of debt that makes it easier for people in those fields to maintain their businesses. Recent legislation has been passed through Congress to provide added flexibility as farmers face increasing challenges including lower pricing and long-running trade wars […]

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Understanding the Difference Between Secured, Unsecured, Priority, and Nonpriority Claims

When you file for bankruptcy, you must disclose your debts. In the bankruptcy paperwork, debts are referred to as “creditor claims,” and you must sort them into categories. Your claim first need to be sorted into secured and unsecured, then the unsecured claims should be divided into priority and nonpriority.  Do you know how to […]

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