First, it is commonly thought it is better for you to transfer assets and property to family and friends so that you can get it back after emerging from bankruptcy. This includes money, cars, and stocks.

Another myth is that you can settle your financial issues by cashing out your 401 (K) plan or IRA.  The reason for this is because those are two of the items that are protected from bankruptcy. Therefore, if you emerge with nothing else, you will still have these.

Also, filing for bankruptcy does not mean that child support and alimony obligations will disappear because you will still have to pay these, regardless if you file for Chapter 7 or 13.

If you or a loved one has been considering filing for bankruptcy, it is important to make sure that you know the difference between the myths and facts. Contact the New Orleans bankruptcy lawyers of the Law Office of David D. Kervin Jr. by calling

The parent company to CPB are trying to sell the company to First NBC Holding Co. Federal regulators have told CPB that they will be shutting them down next month if they have not yet found a buyer.

As of Thursday, officials with Central Progressive have said that they will remain in business and that deposits made by customers are protected by the federal regulators.

If you or a loved one has been struggling financially, it is important that you discover all of your options in order to determine what is best for you. Contact the New Orleans business bankruptcy lawyers of the Law Office of David D. Kervin by calling 504-599-5906 today.

According to the American Bankruptcy Institute, personal bankruptcies are down eight percent across the country. There are two different types of personal bankruptcy, Chapter 7 and Chapter 13.

Chapter 7 bankruptcy is the most common type of personal bankruptcy and it works to liquidate property owned by the debtor and it is distributed to creditors by bank trustees. Chapter 7 does not include a repayment plan. Chapter 13 bankruptcy occurs when the person filing for bankruptcy has a steady income and makes a plant to repay all of their debt.

If you or a loved one has been considered filing for bankruptcy, it is important to discuss all of your options with experienced representation. Contact the New Orleans Chapter 13  bankruptcy lawyers of the Law Office of David D. Kervin, Jr. by calling 504-599-5906.

A board meeting took place on Friday when multiple board members allegedly walked out because the board protested to seat a new representative. The members that were protested at the meeting said that they did not know that the company was planning to file for bankruptcy.

The company has five co-ops  in southeastern and central Montana and they work to supply power to all of its members. The bankruptcy filing will put a hold on two lawsuits that have been filed by two of its members.

The filing has raised questions about how the company was able to borrow $300 million in order to increase one of their plants to 120 megawatts. The company has said that they are seeking to reorganize under Chapter 11 bankruptcy.

If you or a loved one has been considering bankruptcy, you need experienced representation on your side. Contact the New Orleans Bankruptcy lawyers of the Law Office of David D. Kervin Young Jr. by calling 504-599-5906 today.

One option is debt negotiation, also called debt settlement or credit settlement, and this is a process where the debtor and creditor discuss what a debtor owes and come to an agreement that reduces  the debt and covers the payment in full.

The consumer makes monthly payments and the goal is that the creditor  agrees to allow a lesser payment instead of going through the process of foreclosure or repossession.

Although some individuals negotiate with creditors themselves, some find that creditors do not take them seriously. If you or a loved one are looking for representation to help you settle your debt, contact the New Orleans debt negotiation lawyers of the Law Office of David D. Kervin, Jr, by calling 504-599-5906.

Spanish Peaks Holdings II filed in a Delaware court just days after announced that the ski resort will be closing and its employees were to be laid off. Spanish Peaks has had multiple legal issues and financial trouble in the past.

According to the bankruptcy filing, the company has between 100 and 199 different creditors, many of them are local businesses. Chapter 7 bankruptcy often prevents creditors from suing  you, garnishing wages and demanding payment through phone calls. The company has between $1 million and $5 million in liabilities.

If you or a loved one has been in considering filing for bankruptcy, you need representation on your side that will help you answer all of your questions. Contact the New Orleans chapter 7 bankruptcy lawyers of the Law Office of David D. Kervin Jr., LLC by calling 504-599-5906 today.

There are a few requirements for a person before they file for Chapter 13 bankruptcy. These include if a person has regular income, if they are wanting to keep their home, if their unsecured debt is under $360,475  and their secured debt is below $1,081,400.

When a person files for Chapter 13 bankruptcy, you do not need to liquidate your assets, your home will not be foreclosed on and creditors are not allowed to have your wages garnished. These conditions only stand while payments are being  made in order to repay the debt.

If you or a loved one has been considering personal bankruptcy, you need representation on your side in order to discuss your options. Contact the New Orleans Chapter 13 bankruptcy lawyers of the Law Office of David D. Kervin, Jr. by calling 504-599-5906 today.

According to the American Bankruptcy Institute, the number of consumer bankruptcy has fallen 17 percent from 130, 329 to 108,517. This number is also down 10 percent from where they were at the start of the year.

The report has been based on data calculated by the National Research Center. From August to September, the number of consumer bankruptcies fell by 4 percent. Although these numbers have decreased there are still concerns with the U.S unemployment rate.

If you or a loved one has been struggling with debt, you need representation on your side that can explain all of your options and make this time less stressful. Contact the New Orleans bankruptcy lawyers of the Law Office of David D. Kervin, Jr. by calling 504-599-5906 today.

According to U.S. Bankruptcy Court documents,  the orchestra’s Chapter 11 proceeding had produced $2.4 million in expenses and fees to outside forms and consultants by the end of June. With months remaining in the Chapter 11 process, the cost of the proceedings is closing in on the $2.9 million the association once forecast for the entire process.

“The $2.9 million projection referenced in the most recent draft of the strategic plan reflects only bankruptcy-related professional fees and was based on an estimate of reasonable progress in the case,” orchestra spokesman Matt Broscious wrote in an email. “There are any number of factors and costs . . . The orchestra does not plan on issuing a revised projection for costs of reorganization until sometime in early fall. With the goal to provide ongoing financial sustainability for the orchestra, the bankruptcy process represents a set of onetime, short-time costs that will help us do that.”

The largest invoice to date comes from the orchestra’s bankruptcy lawyers, who have so far billed $1.05 million. The invoice shows billable hours by 12 lawyers and two paralegals. The second-largest invoice comes from the association’s bankruptcy adviser, with a total of $833,365.

If your business needs assistance with bankruptcy litigation, please contact the New Orleans Business Bankruptcy Litigation Attorneys of the Law Office of David D. Kervin, Jr. by calling 504-599-5906.