Filing Business Bankruptcy in Greensboro, NC

business bankruptcy lawyers north carolina

Businesses are like individuals in that situations happen, and sometimes they can’t repay the debts they’ve amassed. North Carolina companies seek out debt relief options as a result. Below, our attorneys at Ivey, McClellan, Siegmund, Brumbaugh & McDonough, LLP share some details you need to know about if business bankruptcy is on the horizon for…

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Filing Chapter 13 Bankruptcy in Greensboro, NC

bankruptcy forms for chapter 13

If you are struggling to pay your bills, and are seeing the debt pile up with no way forward, it may be time to file for a Chapter 13 bankruptcy NC. Chapter 13 allows those with enough income to repay all or part of their debts on a three to five year repayment plan as…

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The Major Players in Bankruptcy Proceedings

There are several roles in bankruptcy proceedings that may change slightly depending upon the type of bankruptcy relief sought – but the major players are almost always the same. The details, filing application, and process differ whether you are looking to file a: Chapter 7– In a bankruptcy case under Chapter 7, you file a…

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Chapter 13 Bankruptcy Can Halt Foreclosure

Bankruptcy halting Foreclosure Proceedings

One of the leading causes of filing for bankruptcy is the inability to repay a mortgage, or falling behind on a mortgage and not being able to catch it back up. Filing a Chapter 13 bankruptcy imposes the Automatic Stay (the “Stay”) against all creditors, including a mortgage company who is instituting a foreclosure proceeding. In…

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What you need to know about Chapter 7 Bankruptcy

What to know about chapter 7 bankruptcy

If you’re considering filing Chapter 7 bankruptcy, here are a few things you need to know. Filing for relief under the Bankruptcy Code, including filing a Chapter 7 bankruptcy, can pose a number of advantages to individuals and businesses in financial difficulties. Two of the largest advantages are the discharge and the imposition of the “automatic…

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What Do Each Of The Bankruptcy Chapter Numbers Mean?

bankruptcy numbers meaning

Bankruptcy is governed only by federal law. The federal laws of the United States are “codified” within books of various groups, almost like volumes, with each volume receiving a numerical title. For example, Veterans Benefits are addressed in Title 38 of the U.S. Code, whereas Title 17 addresses Copyrights. Bankruptcy is found in Title 11…

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Skymall Filing Chapter 11 Bankruptcy

skymall bankruptcy cat pod

If you’ve flown any major airline here in Greensboro, NC or elsewhere in the U.S. in the past several years, you’ve undoubtedly stumbled upon a SkyMall magazine. SkyMall provides passengers with a unique shopping experience and even more unique gifts for purchase. Sadly, SkyMall filed for relief under Chapter 11 of the Bankruptcy Code in…

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Chapter 7 Bankruptcy Infographic

A typical timeline in a Chapter 7 Bankruptcy Filing from Credit Counseling to Debt Discharge and Case Closing

Are you in the process of filing for Chapter 7 bankruptcy and would like to know more about the process? Download our graphic below to view approximate timelines and various decision points along the way. If you’d like more information, view our chapter 7 bankruptcy page.

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December 2014 News

December News

On December 18, 2014 Partner Charles M. Ivey, III and Associate Justin Kay were successful in getting a Plan of Reorganization confirmed in an individual Chapter 11 case. The individual held an ownership interest in assets worth $44,600,000 as of the filing of the bankruptcy case, as listed on the petition. Due to a few failed ventures, in addition to…

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5 Largest Bankruptcy Cases of the Last 20 Years

5 larget bankruptcies of the past 20 years

Cities, municipalities, and even large corporations file bankruptcy, in addition to individuals, couples, and local Greensboro businesses. While individual, couple, and local business bankruptcy filings hit closer to home, they very rarely make the news or become of national importance, like those of larger national or international corporations do. The reasons behind large companies’ Greensboro,…

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