by Salene Mazur Kraemer, Esquire, MBA, Certified Turnaround Analyst, Board-Certified Business Bankruptcy Law Specialist image source: https://www.cio.com/article/2439314/change-management-change-management-definition-and-solutions.html “The only thing that is constant is change”- Heraclitus To pivot is to rotate, swivel, revolve, spin.  Change course.  Can your company change course in response to setbacks and an  ever-changing business landscape? Look at retail.  With the surge of online shopping, the rise of Amazon, and declining mall traffic, the retail industry has been decimated.   Social media addicted teens no longer hang out at malls for social connection.   A viral Instagram picture of a celebrity sporting a designer’s hat can spawn a new trend, not a retail storefront.   Indeed, the Internet, I Phone apps and social media have forever changed the American retail experience.  Some beleaguered retailers should have changed their business models to escape the fate of liquidation.  But how? As a business and bankruptcy attorney and turnaround consultant, I have long been a student of consumer trends and industry movements, and I regularly subject a client’s business model  to rigorous examination. Filing a chapter 11 bankruptcy petition is usually the strategic last resort choice.    In the plan process, a debtor must disclose why it filed and  the factors leading up to the filing.  A debtor must also demonstrate that a plan is “not likely to be followed by the liquidation, or the need for further financial reorganization”.  See 11 U.S.C. § 1129(a)(11) (in part). No C-Suite executive wants his or her business to be snuffed out, whether overnight or over the long-haul, by an innovation, competitor, or regulatory change.  “Organizational decay”  is the slow deterioration of a firm’s operations caused by the inability to change and adapt to shrinking financial resources, profitability and market demand.  Don’t let this happen to you.  Based on my experience and recent research of  “stories” behind Chapter 11 filings, I developed this 12-point “organizational survival” checklist for upper management. 1.        Environmental Adversity.  The C-Suite should be able to identify with specificity, external opportunities and threats, such as general and regional economic, employment, competing and industry conditions.   An economic downturn or market crash impacts interest rates and spending for technology, real estate, and advertising, to name a few.  With the rise of the internet, competition can be fatal.   Instead of  a five-mile radius, businesses must now compete with national and international companies online. Keep a close eye on new entrants. How low are barriers to entry?   Jamba Juice, the quick stop for squeezed juices and smoothies, was pushed out by the pop up of several healthy fast-food new entrants.  Consider also Pebble, a Silicon Valley startup that beat Apple in creating and launching the smartwatch in 2012. Pebble eventually lost the market completely when Apple released its watch in April of 2016.  Witness how the “athleisure” (wearing casual athletic clothing to places other than the gym) marketplace has become increasingly crowded with the entrance of big-box retailers who offer cheaper prices (i.e., Wal-Mart and Target);  the competition and price pressure has forced various retail outlets., i.e., Sports Authority, to buckle. 2.        Finance.  Cash is king. Gauge your company’s current and future ability to obtain short or  long-term financing and meet financial performance requirements.  Look at your balance sheet.  Are you overleveraged? How liquid are your assets?  A viable firm should have a strong enough cash flow to support operations and recover the fair value of long-lived assets.   Consider how long it takes for your firm to recognize revenue. Do not ignore open tax matters.  Period. 3.        Supply Chain.  Review the firm’s ability to obtain trade credit.  What is your firm’s plan B if there is a threat of disruption to your supply chain. 4.        Sales.   Do not ignore your sales figures. Has there been a material (5% or more) drop?  Price competitively and be able to articulate your competitive edge or “unique selling proposition”.  Outline and implement growth initiatives. Analyze which  product lines or services are making you the most net profit. 5.        Operations.   Execute cost-cutting initiatives.  Renegotiate lease obligations, the cost of raw materials,  or client contracts. 6.        Labor.  A healthy company will attract and retain knowledgeable, motivated, productive and skilled  labor.    Be aware of the need to communicate openly and demonstrate a continued concern for employees. 7.        Leadership. Ineffective leadership is one of the most significant causes of business failure.   Well-connected, competent and trustworthy leaders must create the agenda for change and build an implementation environment.  Avoid in-fighting and scapegoating. 8.        Technology.  Can a new invention shut down your business?  With the advent of digital cameras, SD Cards and USB cables, technology killed Kodak.  Will a new phone app push you out? Publicly-traded Rosetta Stone cornered the learn-a-new language market for years. In 2012, however, the internet and the iPhone began providing alternatives and Rosetta’s annual profit plummeted. 9.        Customer Mix and Behaviors.   A secure firm diversifies its client mix.  Savvy upper management constantly monitors a customer’s buying habits. Products or services must remain relevant.   My use of my iPhone has made items in my home obsolete (i.e., an answering machine, a landline phone, an alarm clock, workout dvds, paperback books, C Ds, and even a guitar tuner). 10.    Location.  Scrutinize location choice.  How can you increase customer traffic and ultimate conversion?  You may need to selectively shrink your footprint.   Do what auto dealers have been doing;  use showrooms, and order new inventory online at the point of sale. 11.    Marketing.  Is there a positive brand perception and recognition with staying power?  Engage in the goldmine of social media. 12.    Law.  Are you compliant with industry and trade regulations and rules? Do you anticipate regulatory or legislative change?  How likely is potential future litigation? *** One of my favorite places to be is Starbucks, a company that “sells human connection.”  In a podcast interview with Alec Baldwin,  CEO Howard Schultz  describes the up and coming, two-level, Disney-like, experiential, Starbucks stores.   “We have to keep reinventing, keep dreaming. You cannot embrace the status quo of running a business today.” So I urge you, be prepared for change. Keep reinventing.  Adapt to change and overcome.   image source: https://www.cio.com/article/2439314/change-management-change-management-definition-and-solutions.html

 What Is Chapter 7 Bankruptcy? See a very helpful article in the South Florida Report, URL below. https://southfloridareporter.com/what-is-chapter-7-bankruptcy/Jim Shenwick, Esq 212 541 6226 jshenwick@gmail.com

If you plan on filing for either Chapter 7 or Chapter 13 bankruptcy in Pennsylvania, you need to be prepared for the challenges you may face. So, before you file, it’s wise to learn why bankruptcies are most often denied in Pennsylvania. If your Chapter 7 bankruptcy was denied in Pennsylvania, it was probably because you did not pass the means test or there were procedural issues. Chapter 13 bankruptcies are often denied because filers have too much debt and not a high enough income to support a reasonable repayment plan. When bankruptcy cases are dismissed, debtors can often refile. However, a dismissed case can make Pennsylvanians liable for their debts right away, which can cause further financial distress. To avoid such headaches, hire an attorney who will support and guide you through your Pennsylvania bankruptcy case from the very beginning. Our dedicated lawyers are here to assist Pennsylvanians filing for Chapter 7 and Chapter 13 bankruptcy. For a free case evaluation with the Pennsylvania bankruptcy attorneys at Young, Marr, Mallis & Deane, call today at (215) 701-6519. Common Reasons Why Chapter 7 Bankruptcies Are Denied in Pennsylvania When Pennsylvanians face economic difficulties and need help, filing for Chapter 7 bankruptcy may be the path forward. While it’s not necessarily common for Chapter 7 bankruptcies to be denied in Pennsylvania, it’s possible. To avoid a case dismissal, Pennsylvanians need to learn the common reasons why Chapter 7 bankruptcies are denied. As long as you pass Pennsylvania’s means test, which assesses your household’s income, you will qualify for Chapter 7 bankruptcy right away. One of the most common reasons that Chapter 7 bankruptcies in Pennsylvania are denied is that debtors’ incomes are too high. That being said, Chapter 7 bankruptcy is relatively straightforward, with few eligibility requirements. Generally, denied bankruptcies in Pennsylvania stem from filing and procedural issues. Filing for Chapter 7 bankruptcy requires keen legal insight and an in-depth understanding of Pennsylvania’s Chapter 7 bankruptcy laws. Often, bankruptcy is denied because debtors don’t have a skilled attorney by their side to help them navigate this difficult process. Therefore, hiring a Philadelphia bankruptcy attorney is crucial if you’re considering filing for Chapter 7 bankruptcy. Although the process may seem relatively simple, filing errors and miscommunications can lead to a denial of your Chapter 7 bankruptcy. That can leave you without a path forward towards financial recovery for you and your family. Why Was My Chapter 13 Bankruptcy Denied in Pennsylvania? Chapter 13 bankruptcies in Pennsylvania are much more complicated than Chapter 7 bankruptcies. The former calls for a reorganization of debt, while the latter calls for liquidation. Because of this, Chapter 13 bankruptcies are often denied when debtors have too much debt and too little income or are without a skilled attorney. Too Much Debt One of the main reasons that a Chapter 13 bankruptcy may be denied in Pennsylvania is if a debtor simply has too much debt. Reorganizing your debt and figuring out a repayment plan can be difficult if you owe too much. Essentially, Chapter 13 filers need to have a total amount of secured and unsecured debt below the threshold in Pennsylvania. Your Pennsylvania bankruptcy attorney can calculate your total debt to ensure that you’re not denied Chapter 13 because you owe too much to creditors. Low Income When you file for Chapter 13 bankruptcy in Pennsylvania, you don’t have to liquidate your assets or pass a means test. Instead, your attorney will figure out a repayment plan to help you ultimately get out of debt. Unfortunately, when debtors’ income is insufficient to repay debts within an appropriate timeframe, their Chapter 13 bankruptcy may be denied in Pennsylvania. Procedural Issues Similar to Chapter 7 bankruptcies, Chapter 13 bankruptcies can be denied in Pennsylvania when filers don’t meet the procedural requirements. Filing for Chapter 13 bankruptcy is complicated. There are multiple court fees, complex paperwork, and mandatory course filers are responsible for. If you don’t have an experienced Bethlehem bankruptcy attorney, you may become overwhelmed and make an error when filing for Chapter 13 bankruptcy. If that happens, your attempt to get out of debt may be unsuccessful. What Should I Do if My Bankruptcy Case Was Denied in Pennsylvania? If your bankruptcy petition is denied in Pennsylvania, you may feel at a loss. The good news is that debtors can often refile right away. Of course, going through the filing process a second time is never ideal. That’s why Pennsylvanians should hire an experienced lawyer they can trust from the beginning. When bankruptcy cases are dismissed without prejudice in Pennsylvania, meaning no fraud was involved, debtors can reapply almost instantly. If your case was denied because of disorganization or procedural issues, hire an attorney to ensure that doesn’t happen again. If your case was denied because you didn’t meet the requirements for Chapter 7 bankruptcy, your lawyer can help you explore the benefits of Chapter 13 bankruptcy. When bankruptcies are denied with prejudice, debtors may not be able to refile for some time. This can have a damaging impact on Pennsylvanians in financial distress. Although you may be able to refile for bankruptcy in Pennsylvania if your initial case was dismissed, the automatic stay preventing creditors from collecting on your debts may disappear. This can make you liable for debts almost immediately after a dismissed bankruptcy case in Pennsylvania, even if you have intentions to refile. Filing for bankruptcy in Pennsylvania is complex. Debtors may feel discouraged and overwhelmed simply at the prospect. Instead of dealing with the stress alone, hire a lawyer. Your Chester County bankruptcy attorney can help you file the proper forms and organize your financial information so that your Chapter 7 or Chapter 13 bankruptcy is not denied in Pennsylvania. Call Our Pennsylvania Attorneys for Help with Your Bankruptcy Case If you plan to file for bankruptcy in Pennsylvania, our lawyers can help. For a free case evaluation with the Allentown bankruptcy attorneys at Young, Marr, Mallis & Deane, call today at (215) 701-6519.

Linda Pays Mariner $6113 through Beyond Finance. Then She Gets Garnished Linda Cash (not her real name) wanted to clear her debts without filing bankruptcy. As an alternative to bankruptcy, she signed up for Beyond Finance. Linda needed Beyond Finance to help her with Mariner. (She originally borrowed $5383, got behind, and now owed Mariner […] The post Linda Pays through Beyond Finance and Gets Garnished by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.

 National Law Review is reporting that the Subchapter V Debt Ceiling has been Restored to $7.5 Million.  With the new law, the $7.5 million debt ceiling will remain effective until June 21, 2024.   The article can be found at https://www.natlawreview.com/article/subchapter-v-debt-ceiling-restored-to-75-millionJim Shenwick Esq. 212 431 6224 jshenwick@gmail.com

Alternatives to bankruptcy–disappear One alternative to bankruptcy is to just disappear.  Why am I bringing this up, now? This week somebody asked Quora (a website I follow) how to legally disappear.  The answer, sign up for a Caribbean cruise. Get off at the Virgin Islands. Don’t get back on. For most people, bankruptcy works. But when […] The post Alternatives to Bankruptcy–Disappear by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.

Financial setbacks can occur to anyone. You may suffer a medical emergency, lose your job, or incur other unforeseen expenses. In these situations, it is easy to get behind on loan payments. When you fall behind on loan payments, you can be at risk of repossession. When you accept a loan from a bank, finance company, or other lender, the creditor has a security interest in some of your property. If you fail to satisfy your obligations under a loan, your creditor has a right to repossess the property in which it has a security interest. However, bankruptcy is a tool that could protect you from creditors and improve your financial situation. If you have fallen behind on loan payments, speak with our Pennsylvania bankruptcy lawyers about how filing for bankruptcy could benefit you by calling the law firm of Young, Marr, Mallis & Deane at (215) 701-6519 for a free consultation. What is a Repossession (Repo) Company? A repossession company is a business that offers repossession services like collateral recovery to lenders. These companies use repossession agents (“repo men”) to take back property from borrowers that have defaulted on a loan. In Pennsylvania, a repossession company has to be licensed as a collector-processor with the Department of Banking and Securities of the Commonwealth. What Can Lenders Do to Repossess My Property? Creditors cannot repossess your property unless there is a written security agreement signed by you that identifies the property to be repossessed. Furthermore, creditors in Pennsylvania cannot repossess your property unless they can do so peacefully. In other words, a creditor cannot simply walk into your home and take your property. However, lenders are able to repossess items if they can do so without breaching the peace. For example, a repossession company may be able to tow your car to repossess it from your driveway or from public property. You have the right to tell a creditor who comes to your door that they cannot take property back and cannot enter your home. It is unlawful for a creditor to enter your home or take your property after you deny them. If you tell a creditor that they cannot take your property, the creditor will need to go to court to repossess it. Although, involving the court system may increase costs incurred by a borrower. Lastly, when a repo company breaches the peace, you can file a complaint with the Department of Banking and Securities of the Commonwealth. Our Philadelphia bankruptcy lawyers can help when filling such a complaint. A complaint for breaching the peace may result in the revocation of a repossession company’s license. Does a Creditor Have to Give a Warning Before Repo? Pennsylvania creditors may not have to give warning before repossession. However, notice is required in certain circumstances. If the property to be repossessed is a mobile home, it cannot be taken without a 30-day written notice and opportunity for the borrower to catch up on payments and fees. Furthermore, personal property other than a vehicle may not be repossessed without first giving the borrower a 21-day notice and a chance to make up missed payments. Our Chester County bankruptcy lawyers can assist you if your property was improperly repossessed without warning. What Property Can Be Repossessed in Pennsylvania? Pennsylvania has established specific rules governing what property can be repossessed. Certain types of property are repossessed more frequently than others. However, there is a variety of items that can be used as collateral. The following items can be repossessed in Pennsylvania: Vehicles Vehicles are one of the most common types of property that are repossessed in Pennsylvania. Auto lenders typically retain the right to repossess a car if a buyer defaults on their contract. Buyers can default on their contract by missing monthly payments, allowing their auto insurance to lapse, or failing to comply with provisions in a loan agreement. Furthermore, other vehicles such as boats and planes may also be repossessed in Pennsylvania. Vehicle owners who are struggling to make payments may consult with our Delaware County bankruptcy lawyer for help regaining financial stability. Many people question will happen to personal property in your car after a vehicle repossession. In Pennsylvania, you have 30 days from the date of notice of the repossession to pay off and recover your property. After 30 days, a repossession company may dispose of your personal property (e.g., sell it to someone else). Rent to Own Items Some items are rented with the option of purchasing the item in the future. For instance, home furniture, office furniture, computers, tools, and televisions are some items that may be rented with the option of purchasing in the future. These items may also be repossessed by lenders in Pennsylvania if a borrower fails to satisfy their rental agreement. Our Allentown bankruptcy lawyers can answer questions regarding your rental agreement if you are concerned that an item may be repossessed. Personal Property Used as Collateral Any type of personal property used to secure a loan may also be repossessed if the borrower defaults on the loan. Jewelry, vehicles, stocks, fine art, future paychecks, and cash in a savings account are all among the many forms of personal property that can be used as collateral for a loan. However, this occurs much less frequently in Pennsylvania. Most lenders will not accept personal property as collateral. Furthermore, creditors cannot take property that was not identified as collateral. A lender cannot just take any item they want to satisfy a debt. However, if a creditor sues a borrower and wins the case, a police officer may come with a court order to take away other property from the borrower to repay the debt. Real Property Cannot Be Repossessed Your home cannot be repossessed, even if it is collateral for your mortgage loan. There is a different legal process known as foreclosure for houses. Some people may refer to losing property to foreclosure as repossession, however foreclosure is entirely different and involves a more complicated legal process. Any real property such as your home, vacation home, or rental property must be foreclosed on before a lender may take possession. What Happens to Repossessed Property in Pennsylvania? Typically, after property is repossessed, a creditor will try to sell it. However, lenders must give borrowers written notice of the time and location of the sale. For example, many repossessed vehicles are sold at auctions. In such cases, the lender is required to provide the borrower with written notice of the time and location of the auction where their vehicle is to be sold. Although, before repossessed property is sold, borrowers will have the option to get their property back if they pay the full amount owed or make an agreement with their creditor to make up payments. Borrowers should attend the sale of their repossessed property to ensure that the sale was performed in the best possible manner to get the most beneficial outcome. The money the creditor acquires from a sale will be applied to the borrower’s debt. As such, if your property was repossessed, you want it to be sold at the highest possible price. If your repossessed vehicle was sold well under the appropriate value, then you may not be liable for any remaining payments leftover on your loan. Our Bethlehem bankruptcy lawyers can help determine if the sale of repossessed property was not executed in the right manner. If your property is not successfully sold at an auction but you know people who are willing to buy the property, you should obtain written bids from the potential buyers and inform the lender. What if the Sale of My Property Does Not Cover My Debt in Pennsylvania? If the amount your repossessed property is sold for does not cover your outstanding debt, you may still have to pay the amount owed even if you voluntarily gave up your property to the creditor. For example, if you owe $20,000 on a vehicle that is repossessed and sold at auction for $12,000, then you may still be liable for the remaining $8,000. If the repo was performed legally, your creditor has the right to sue you for the remaining amount owed after an insufficient sale. In such cases, you may have limited time to respond to your creditor. You should immediately consult with our West Chester, PA bankruptcy lawyers if your creditor is suing you for an outstanding debt after your repossessed property has been sold. However, you may not have to pay your outstanding balance if your creditor broke the law while repossessing or selling your property. Furthermore, you may even be able to sue your creditor in such situations. For instance, if a lender did not notify you of the time and location of an auction where your repossessed vehicle was sold, you may not be responsible for any leftover debt and could be entitled to file a legal action against the lender. How to Avoid Repossession in Pennsylvania Of course, the easiest ways to avoid repossession is to avoid acquiring debt and to avoid missing payments on loans. Unfortunately, this is not always possible. Financial crises can occur to anyone. However, there are certain things to remember before taking out a loan that can help you avoid having your property repossessed in Pennsylvania: Know Your Budget You should have a clear understanding of what you can afford. It can be difficult to adhere to a budget and you may be pressured to purchase fancier, more expensive items on occasion. However, you must avoid purchasing something that will exceed your budget. Furthermore, you should resist sales people who attempt to upsell you. Salespeople rarely have your best interests in mind and will frequently try to talk you into buying something more expensive. Do not let salespeople upsell you on expensive items that may cause a financial crisis. Prepare for Income Fluctuation Additionally, you should also be prepared for income fluctuations they may experience after incurring a debt. For example, if you are planning to buy a car then you should make sure there is room in your budget to afford payments even if your income drops. Unforeseen circumstances that affect you job status can be financially devastating after taking out a loan. Be Aware of Interest Rates Furthermore, interest rates should always be considered before borrowing from a creditor. Interest rates are the proportion of a loan that is charged as interest to the borrower. These rates are typically expressed as an annual percentage of the remaining balance on a loan. High interest rates may cause borrowers to fall too far behind on a loan to ever catch up. Furthermore, any additional charges that may be added to the debt should be considered before entering into an agreement with any lender. Communicate with Creditors It is also important for borrowers to communicate with lenders. If you are having trouble making payments on a loan, you should notify your creditor. If creditors are aware of financial problems ahead of time, then they are more likely to accommodate you. Lenders may help you resolve the issue by extending the period for repayment or refinancing your loan. Refinancing describes situations where the terms of an existing loan – such as interest rates, payment schedules, or other terms – are revised. Filing for Bankruptcy For some borrowers, filing foor Chapter 13 bankruptcy will be the best way to resolve credit problems and avoid having their property repossessed. Chapter 13 bankruptcy is also known as reorganization bankruptcy and gives borrowers the chance to pay back debts on a court-mandated payment plan, typically 36 to 60 months. Other borrowers may have to file for Chapter 7 bankruptcy, also known as liquidation bankruptcy. Chapter 7 bankruptcy involves selling all of a borrower’s property to pay off their debts. This option is more typical for borrowers who do not own a home or who have limited income. However, filing for bankruptcy comes with inherent risks. Our experienced Northeast Philadelphia bankruptcy lawyers can examine your case and help you determine whether filing for bankruptcy the right course of action for you. If Your Property Has Been Repossessed in Pennsylvania, Our Lawyers Can Help If your property has been repossessed or is at risk of repo, get help by calling the Easton, PA bankruptcy lawyers at Young, Marr, Mallis & Deane at (215) 701-6519 for a free consultation.

 Many of the readers of our email newsletters and blogs are aware that Subchapter V of Chapter 11 of the Bankruptcy Code was implemented to help small businesses reorganize quicker and cheaper. Debt limits for Subchapter V bankruptcy filings are currently $2,725,625 limit, but pending legislation will soon raise it to $7,500,000.00.In these challenging economic times, Subchapter V may be a very helpful tool to help businesses reorganize.A recent Fourth Circuit case, In re Cleary Packaging, LLC, 2022 WL 2032296 (4th Cir. June 7, 2022),  clarifies which exceptions to discharge apply to business SubV debtors. Cantwell-Cleary Co., Inc. obtained a $4 million state court judgment against Cleary Packaging, LLC, a company formed by Cantwell-Cleary's former president and CEO. A state court action alleged intentional interference with contracts, tortious interference with business relations, and related claims.As a result of the judgment, Cleary Packaging filed for bankruptcy  under Chapter 11 of the Bankruptcy Code, electing to proceed under Subchapter V. In its bankruptcy plan, Cleary Packaging proposed to pay Cantwell-Cleary only 2.98% of its judgment, with the remainder of the debt to be discharged. Cantwell-Cleary filed an adversary proceeding seeking a determination that the state court judgment was a debt resulting from "willful and malicious injury" that was not dischargeable under Sections 1192 and 523(a)(6) of the Bankruptcy Code. Interestingly the bankruptcy court dismissed Cantwell-Cleary’s adversary proceeding, holding that the discharge exceptions in § 523(a) do not apply to corporate debtors. On appeal, the Fourth Circuit addressed the issue of  whether Cleary Packaging, as a Subchapter V corporate debtor, can discharge its $4 million debt to Cantwell-Cleary “for willful and malicious injury.”The Fourth Circuit reversed the Bankruptcy Court and held that the discharge exceptions in section 523 of the Bankruptcy Code apply to corporate debtors in Subchapter V cases where the debtor does not confirm a consensual plan.The Fourth Circuit decision is the first to address the question of what exceptions to discharge apply in cases under Subchapter V. A more detailed article discussing the In re Cleary Packaging can be found at National Review.com at https://www.natlawreview.com/article/fourth-circuit-decision-clarifies-application-exceptions-to-discharge-subchapter-vIndividuals with questions about Subchapter V can contact Jim Shenwick, Esq at 212 541 6224 or jshenwick@gmail.com 

 The Fourth Circuit’s recent decision In re Cleary Packaging, LLC, 2022 WL 2032296 (4th Cir. June 7, 2022) holds that in certain Subchapter V cases the statutory exceptions to the bankruptcy discharge will apply to corporate debtors. An article at National Review explains generally, in a traditional Chapter 11, exceptions to discharge for corporate debtors are more limited if the corporation is not liquidating. "Based on the Fourth Circuit’s decision in In re Cleary Packaging, LLC, Subchapter V includes broader exceptions to discharge for a debtor that cannot confirm a consensual plan, including claims against corporate debtors for certain types of fraud and other willful and malicious injuries." The article can be found at https://lnkd.in/g6i2vEbF Jim Shenwick, Esq 212 541 6224 jshenwick@gmail.com

Get Ready for a Recession Michelle Singletary in Wednesday’s Washington Post writes about getting ready for a recession.  Two pieces of her advice: clear your credit card debt; and start saving. Suppose the recession hits hard ten months from now–April 2023.  Will your credit cards be paid off?  If there’s a lot of slack in […] The post One Way to Get Ready for Recession: Bankruptcy by Robert Weed appeared first on Northern VA Bankruptcy Lawyer Robert Weed.