Posts by On Behalf of Giddens & Gatton Law, P.C.
Who has to pay off the debts after a divorce?
Discussing debt is one of the more tense aspects of a divorce. Who pays off which debt? If there are any assets, which ones offset the debt? New Mexico is a community property state. This means each partner keeps what they brought into the marriage whether it’s property, an inheritance or debt from, say, a…
Read MoreShould you choose Chapter 7 or Chapter 13?
Filing for bankruptcy is an intensely personal decision that requires careful consideration. Once you decide to file, you must next choose whether Chapter 7 or Chapter 13 is best for your unique situation. An experienced bankruptcy attorney can help you decide which option will give you the best outcome depending on your circumstances. Regardless of…
Read MoreCreditors’ rights: options for getting paid
Your business works hard. You, as a creditor, deserve to be paid for your efforts. Sometimes, though, your customers simply don’t pay their bills on time. You may be wondering what your debt collection options are, both in and out of the courtroom. Non-judicial options So-called “self-help” options don’t require any sort of judicial involvement.…
Read MoreDavid’s Bridal files bankruptcy
Much to the chagrin of brides across the country, renowned bridal gown chain David’s Bridal recently filed for Chapter 11 bankruptcy protection on November 19, 2018. The company missed a large debt interest payment back in October, and announced the prospective bankruptcy shortly thereafter. The bankruptcy is not a liquidation, but a debt restructuring, and…
Read MoreShould you file a Quiet Title action or a Quitclaim deed?
If you are looking to remove someone else’s claim to a property, you’ll need to know the difference between the two. In many different instances, you may need to remove a person’s name from ownership over property. These formal documents and legal actions can effectively and permanently remove someone else’s claim to a property. Quitclaim…
Read MoreWhat debts are nondischargeable in a Chapter 7 bankruptcy?
Chapter 7 bankruptcy is well-known as a debt relief mechanism because it is so effective at relieving the debtor’s financial burdens. Even so, there are certain types of debt that will remain after the debtor receives a Chapter 7 discharge. This post will address the most common types of non-dischargeable debts. Generally speaking, common types…
Read MoreWhat happens if I file for bankruptcy without my spouse?
In some instances, it makes sense for both spouses to file for bankruptcy together. In other cases, however, it’s more beneficial for the couple that only one spouse files for Chapter 7 or Chapter 13 bankruptcy. An experienced bankruptcy attorney can help a couple determine if it’s best for only one spouse to file or…
Read MoreSigns bankruptcy might be right for you
We’ve all had financial difficulties from time to time. A sudden expense, like a broken appliance or a flat tire, might have taken an unexpected chunk out of our bank account and left things a bit tight until our next paycheck. There’s a difference between being a bit short on cash for a brief period…
Read MoreMattress Firm files for Chapter 11 bankruptcy
Nationwide mattress retailer Mattress Firm recently filed for Chapter 11 bankruptcy. The filing comes amidst dwindling profits and increased competition from online start-up companies like Casper, Leesa, Saavta and Nectar. As part of the bankruptcy restructuring, the company plans to close 700 non-profitable stores across the country, focusing first in on those in close proximity…
Read MoreDespite Lampert’s efforts, Sears files for Chapter 11
On October 15, after more than 130 years in business, former retail giant Sears filed for Chapter 11 bankruptcy protection in the face of mounting debt and shrinking profits. In a post earlier this month, we discussed now-former CEO Eddie Lampert’s plan of leveraging his hedge fund, ESL Investments, and other resources to raise capital…
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