Business Bankruptcy Law | Small Business Bankruptcy Laws

Is there a way to hold them accountable for the continued increase of uninsured Americans, increase in family bankruptcies due to health costs, and closure of small businesses due to double digit health insurance costs?
While it is nice to pretend things are OK with our current system, everyone knows it is slowly strangling our economy and our individual abilities to support our families.

What should be done to hold republicans responsible if they succeed in continuing this dangerous trend?

company who does not provide insurance for their workers. These people cannot buy insurance themselves due to a "preexisting condition". Could we not solve this health reform issue by making it federal law for all states to have a high risk pool? That way the uninsured in other states are not screwed and have to claim bankruptcy due to emergencies? If 35 other states do this, why can’t the remainder have programs?
What if the states do not do what they are supposed to do? What if they cater to the rich?
I agree with Bub and Jennifer. Something has got to change. I thought at least this could help people in the meantime.

Talk is pretty cheap! Promises are empty until they are kept! Obama has said he will
Jump start the economy….but doesn’t say how.
Create jobs……..but doesn’t say how.
Support small business…..but doesn’t say how.
Protect home ownership….but doesn’t say how.
Crack down on mortgage fraud…….sorry, it’s too late for that.
Reform bankruptcy laws…..but doesn’t say how.
"Give" all americans "affordable health insurance….see the problem with that statement….but doesn’t say how.
"Redistribute wealth" to the middle class…..I hope you will all be happy with the 0.00 savings this will bring you.

These are just some of the "promises"…..how sad that everyone believe even a single word.

I understand he is running against what most believe is a failed administration….HUGE advantage…"Change" is what people want. Why can’t anyone see that he is a great talker who has the backing of the media and "celebrity"…….who are glamorized and idolized in this country. His past experience at balancing a budget is his own personal checkbook…..yet he says he can do miracles.

Please do not slam McCain/Palin……I am not particularly happy with these people either…..Frankly both candidates bother the hell out of me….. but Obama scares the $hit out of me!

His site says NOTHING about any plans he has………..
His site says NOTHING about any plans he has………..

I purchased a bike at a Honda dealership and they had me apply for a Honda card. I recently filed bankruptcy and all of a sudden a lien has been placed on the title. It is like a JC Penny’s card yet they put a lien on my title? My wife called the DMV a month ago and there was no lien. I used to be in the insurance business and normally they would have required me to carry full coverage but I was only required to carry liability. The DMV said that they assumed that Honda (GE Money Bank) had the lien all along but that isn’t true. I lost the title but when I bought the bike it HAD NO LIEN. It seems the GE is breaking the law. Heck, with the interest I paid for 5 years I already should have owned the bike. My Chapter 7 court is in a few days. What can I do? I fell like they have done something illegal and that the whole "card" thing was to get me to pay higher interest than Arkansas allows. I need this bike for transportation.

My dad was just diagnosed with terminal cancer. They have no health insurance. They have applied for medicaid, but my mom is afraid she will lose her home and their small business (their only source of income) if they qualify. Do you think it is better to not go through medicaid and let the medical bills pile up and then have my mom file for bankruptcy when this is all said and done? I was told she may be able to keep her home that way. Anyone been through this before and have some good advice?

I started a company in Oct. 2005, and invested + of my own money plus over 2 years of work. In Jan. 08 I had an investor buy in for k for 25% ownership plus he was required to lend the company up to 5k as needed. He cut us off after k in loans and the company went under. He’s coming after me now, but I have no personal guarantee. I did misappropriate/commingle some funds for personal use when I got desperate but only for food, car payments, and car insurance so I can keep traveling for work. I also made some cash withdrawals from the biz bank account to pay for some business bills, some can be documented, some cannot. I wouldn’t mind paying back anything that I didn’t document, I think there is a total of about k in "gray area" transactions. I just want this guy out of my life without anymore trouble. I know I was stupid, but can he sue me or possibly put me in jail because of this? If so, can I avoid all problems if I promise to pay him back for any transactions that are iffy? Would he be responsible for anything because he didn’t meet his investment we agreed on? I’m in the process of filing personal bankruptcy, ch. 7, if that makes a difference. Please help! Thank you!

life insurance policy-insurance company goes bankrupt?
Small business equity-business goes bankrupt?
savings account-bank goes bankrupt amount exceeds FDIC insurance?
Pension plan goes bankrupt?
Mutual fund goes bankrupt?

Thanks

I started a company in Oct. 2005, and invested + of my own money plus over 2 years of work. In Jan. 08 I had an investor buy in for k for 25% ownership plus he was required to lend the company up to 5k as needed. He cut us off after k in loans and the company went under. He’s coming after me now, but I have no personal guarantee. I did misappropriate/commingle some funds for personal use when I got desperate but only for food, car payments, and car insurance so I can keep traveling for work. I also made some cash withdrawals from the biz bank account to pay for some business bills, some can be documented, some cannot. I wouldn’t mind paying back anything that I didn’t document, I think there is a total of about k in "gray area" transactions. I just want this guy out of my life without anymore trouble. I know I was stupid, but can he sue me or possibly put me in jail because of this? If so, can I avoid all problems if I promise to pay him back for any transactions that are iffy? Would he be responsible for anything because he didn’t meet his investment we agreed on? I’m in the process of filing personal bankruptcy, ch. 7, if that makes a difference. Please help! Thank you!

We had a theft last year days before we moved (there were no problems, claim was paid promptly) then just months later, the movers drop our stuff in the ocean during our move. Again, no question about the actual incident. I have been with my insurance 15 plus years and they agreed to take the claim.

Months later, lots of stalling, they flagged the account for a duplicate item that they thought was previously reported stolen. I proved we had more than one when they sent an investigator out. I thought all was good, then suddenly they are calling me and asking me about my bankruptcy years ago, (that I did tell them about) and about my eBay accounts and past claims which we couldn’t remember anymore. Then I noticed they are looking at all of my websites including the business of my husband.

I am really hurt and angry that they are treating us like this but my mom said it is normal, that we are just paperwork and all claims are handled this way. Others are telling me that they are doing this to get out of paying claims because of the economy. I have to admit, I have been searching the web and found all kinds of horror stories like mine where they did all the same stuff to people who were loyal, even past employees. I have always loved my insurance company, everyone has always been so nice and I always felt they would know we were good people and certainly would never try and screw us. I was defending them up until recently. But now I dont know what this is about.

Is it normal for them to go into your personal life? What is the point of that? The rep said she is just doing her job but why check our websites and bankruptcy papers from years ago? There is too much proof and too many major companies involved in the damage for them to think we staged it, and they saw the damaged stuff first hand. Everyone is telling me to get a lawyer and to draw the line but I just think that would make us seem like we are hiding something, so I keep giving them all the stuff they ask for even when I feel it is invasive and hurtful.

What is the purpose of all of this and should I take it personal and do something about it??

What would happen if an insurance company goes bankrupt? Specifically, say a small business has liability insurance from a company and that business gets sued and files a claim, but the insurance company is in bankruptcy and cannot pay. Does the business need to pay itself, or will the judgment be discharged?

Over 50 years old. No retirement, but will inherit 40 acres of wooded land. Do I need an life insurance policy?

Own a VERY SUCCESSFUL RESTAURANT BUSINESS (15 YEARS) ,,,not the real estate THOUGH. Have ,000.00 saved from it. DOING OVER A MILLION. THIS TYPE OF BUSINESS IS NEVER REAL SECURE.

Have ,000.00 saved in my personal

Have a ,000 savings bond.

Owe ,000 in student loans

Buying home, have 0,000 left on mortgage. Need to refinance right now people are telling me. I have an arm? and my payments are getting ready to go way up. Have owned this home for 3 years. My previous home I had for 17 years.

Credit score in the 700’s, but I can’t get the Bankruptcy off my credit report which was paid off almost 7 years ago to the day.
And it wasn’t even a Bankruptchy, it was a reorganization of my bills, through a lawyer, I THOUGHT.

HELP!!

I was in an accident last October and the other party refused services at the time and the officer never gave me a ticket. When the man involved found out that our names are on a business he thought he could get money out of us. We do not own the business its just we manage it. We have no money and we are raising our very young children who both have health problems. We do not own anything of worth except my car and its only worth ,000. My insurance company has informed me that he wants quite a bit more than what they can pay and its for his pain and suffering and his mental anguish. I told our insurance agent that we are getting a lawyer and if he sues we will file for bankruptcy. Can he be award a large sum that would could never pay? Is there anything else I should do/know?
I forgot to include that he was in an accident a week before that and I checked his myspace account and he says he got a promotion and bought a new car(with the money from the other accident I’m sure and that he is going to collage this year some time.

Can Chapter 11 allow a company who carries an insurance policy with an insurance company to not have to pay out an insurance claim, even if the main company is still open for business and still installing the same product on new cars that caused damage to mine? And the insurance company for the car installation place is still in a valid contract with them?
To the second answer. I know you want to sound very knowledgeable, but you went so far off on a tangent I don’t think you can find your way home! The suit was already filed by the business. The insurance company has already received documentation from the dealership of the model car saying it is the installation that caused the damage. And as far as I know the policy would have been paid out, but because of the chapter 11, the insurance company says they don’t have to any longer.

The buisiness I work for currently has filed Chapter 11 in Delaware. I will be out of work March 24, 2009. I have been here 6 yrs. Am I due any unpaid vacation or sick days I have not used? My vacation time went into effect after the bankruptcy. Is the business allowed to take money from any remaining paychecks for insurance if we no longer have insurance?

5 years ago I went thru a very expensive and nasty separation and divorce, at the time I had a thriving business and a good income. Now, I only make a fraction of what I used to. I ended up losing everything and was forced into Chapter 13. Then, I was pushed into signing a family support agreement that I could not afford.Everyone keeps basing everything on my past income. My family support is ,700.00 monthly and my bankruptcy payment is currently at 0.00 monthly and is getting ready to increase to ,430.00 monthly next month. I have not been able to pay Federal Income tax for the last 3 years even though I have filed the returns. I am really struggling to keep up the payments at even the 0.00 amount to the Bankruptcy court, let alone have it go to ,430.00 a month. I hardly have anything left and can barely make ends meet. What can I do to get some help? I currently have a bankruptcy attorney, but with the economy, my wages have continued to go down. I just can’t afford to pay out over ,100.00 monthly BEFORE I pay any of my other bills for insurance, housing, food, ETC. I am trying to do the right thing and take care of my family obligations but it is getting to be too much on me and I can’t keep up this pace, just not enough money to go around. Any good advice out there?