HONOLULU The number of bankruptcies in Hawaii rose for the second straight year in 2019, records showed.

There were 1,666 bankruptcy cases for the year, up 11.8% from 1,490 in 2018, The Honolulu Star-Advertiser reported Monday.

The data released Thursday by the U.S. Bankruptcy Court for the District of Hawaii showed the 2019 mark was the highest since the states 1,702 bankruptcy filings in 2014.

The number of 2019 bankruptcies was less than half of the post- recession peak of 3,954 in 2010.

The states high cost of living is taking a toll on residents, with only a limited number of people benefiting from the rising stock market, said Ed Magauran, a Honolulu bankruptcy attorney.

I dont think there has been any change in the number of people who have not paid their debt, Magauran said.

As usual, the bottom 95% continue to suffer. The stock markets up unbelievable, but the people making money are the top 5% who are owners of public corporations, Magauran said. The other 95% are not making anything, and the last time I checked, in Hawaii a family with two children needs at least three jobs.

There were 1,135 Chapter 7 liquidation filings in 2019, up 12.8% from 1,006 in 2018.

Chapter 13 filings, which allow individuals with regular sources of income to set up plans to make installment payments to creditors over three to five years, rose 7.5% from 481 to 517.

Chapter 11 reorganization filings, which are primarily for business reorganizations, rose from three to 13.

By county, Honolulu filings rose from 1,093 to 1,238, Maui filings increased from 203 to 221 and Kauai filings rose from 60 to 74. Hawaii island filings decreased by one, from 134 to 133.

Bankruptcies rose in December in all four major counties.

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Hawaii hits 5-year high mark with increase in bankruptcies - Thegardenisland.com

Ms. Foreman, 22, was hired by Mr. Kasolas to help spread the word about filing claims. She spent her day taping fliers to pizza boxes at Red Lion Pizza in Magalia, just north of Paradise, and handing out others to churches and agencies, hoping it would prompt even one more person to file a claim.

But time is short, and a bigger problem persists.

We know there was significant post-fire displacement people had to move away, said Steven Skikos, a lawyer appointed by the court to represent victims interests. But we dont know the specifics of who ended up where. Thats a real problem.

An analyst at Chico State provided Mr. Kasolas with a map produced from United States Postal Service information showing that wildfire victims had moved to almost every state, with significant clusters in the Pacific Northwest, Arizona, Texas and Tennessee. But the map does not provide addresses.

For its part, PG&E said it had employed a broad campaign to ensure that wildfire victims received information about filing claims, including newspaper, magazine, radio, social media and digital advertisements. The utility sent emails to about four million customers and claim forms by mail to more than six million customers.

We feel this is the most robust noticing effort in bankruptcy history, including outreach through national publications, Paul Moreno, a PG&E spokesman, said.

But sometimes the trouble with filing a claim is more a problem with the process.

Rosemary Peterson had traveled from Magalia for the food giveaway at Paradise Alliance Church when she saw the table with the information about filing a claim.

Ms. Peterson, 88, had tried to submit a claim online but struggled to complete it on her own. Although her home survived the Camp Fire, smoke damage required some restoration. The trees in her yard have died. And her friends and neighbors have scattered.

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He is Trying to Get Fire Victims Paid. He Has to Find Them First. - The New York Times

Barb Taylor, 56, has a reminder for anyone sent to repossess her black International LoneStar truck the one with the giant pink ribbon decal.

Thats my truck, said Taylor, who has lived six years after her breast cancer returned as stage 4. Doctors expected her to live for just two.

Owning a truck is on my bucket list, Taylor added.

That truck also has the decal of Hyndman Transport, the Canadian trucking company that shut down on Dec. 9 after its U.S. owner Celadon Group filed for Chapter 11 bankruptcy.

Former employees and contractors are facing the staggering challenge of claiming what they say Celadon owes them under Canadian law. Making matters more difficult, Celadon hasnt filed for bankruptcy in Canada something that ironically could help former Canadian workers make claims and secure federal benefits.

Taylor, a lease-operator for Hyndman, had put about C$150,000 into lease and maintenance payments since 2015. She has just C$39,000 in payments left until she owns the truck.

Taylor wants to buy out the remainder of the lease but is now fearful that the rig will be repossessed and that shell lose the investment.

I could buy a house with that money, she said.

Taylor drove that truck proudly for Hyndman across North America and took part in fundraising events such as Trucking for a Cure. Her Canadian supervisors, meanwhile, worked to ensure she got the freight she wanted and got back to Canada for her treatments.

Hyndman treated me well, Taylor said. But Celadon is getting away with so much.

Randy James Ulch, a former employee-driver for Hyndman Transport, said he is owed around C$2,000 in accrued vacation pay and severance from his year at Hyndman.

There are others who are out a hell of a lot more, Ulch said.

Former employees have a clear interest in Canadian bankruptcy proceedings. They can get preferential status as a creditor in a bankruptcy, under Canadas Bankruptcy and Insolvency Act. Along with a filing, a court-appointed trustee would oversee and facilitate any outstanding obligations to Celadons Canadian employees and contractors.

In addition, even if former employees are unable to collect from the sale of any company assets, they can apply to have the federal government compensate them.

Celadon CEO Paul Svindland did not respond to FreightWaves questions about outstanding pay for its former Canadian workers or if the company has plans to have Hyndman file for bankruptcy in Canada.

While Canadian subsidiaries frequently file for bankruptcy concurrently with their U.S. parents, but they arent necessarily legally required to do so.

Celadons obligations would depend on its corporate structure and relationship between the U.S. and Canadian companies, said Hans Parmar, a spokesperson for the federal Ministry of Innovation, Science and Economic Development, which oversees bankruptcy and insolvencies.

Sara Slinn, a professor at Osgoode Hall Law School at York University in Toronto and Canadian labor law expert, said Hyndmans former employees and contractors could consider pooling their resources for a lawyer and taking their case to the federal Industrial Relations Board for unpaid wages or severance, independent of any bankruptcy proceedings.

If they can coordinate themselves and work as a group, they have a much greater chance of success, Slinn said.

Owner-operators and lease-operators could also potentially challenge their status as contractors depending on the specifics of their work with Hyndman.

Misclassification is very common in trucking, Slinn said.

Slinn couldnt speak to the particulars of how Celadon shut down Hyndman but said U.S. firms are known to neglect their obligations to Canadian workers, particularly in cases of mass dismissals resulting from closures or bankruptcies.

This is a problem in Canada. We have a lot of American companies operating here. Its not that uncommon to have employees left in the lurch when they shut down and often the executives are untouchable.

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Celadon leaves former drivers hanging without bankruptcy filing in Canada - FreightWaves

Bankruptcy is a federal legal process designed to helpindividuals, spouses, and companies get a financial fresh start by discarding or making arrangements to repay unmanageable debt. It can also be a way for companies to end business and liquidate assets in an orderly way.

The desired outcome of mostbankruptcy cases filed by individuals is a discharge. A discharge is an order from the bankruptcy court permanently prohibiting any creditor from attempting to collect a debt against you. It's also known as a bankruptcy injunction.

Although the discharge is permanent, it is not all-inclusive. Some debts are not dischargeable.For example, most tax debts, child support, and spousal support cannot be discharged.

As the bankruptcy discharge is a very powerful remedy, it is only given to honest debtors that disclose all of their property and debts.

The bankruptcy courts are subunits of the federal district court system. As a result, there is a bankruptcy court in each federal district of the United States. However, depending upon the population of a district, there may be multiple courthouses in different cities. Bankruptcy courts are supervised by bankruptcy judges that are appointed to 14-year terms by federal judicial committees.

There are six type of bankruptcy, known as chapters:

Bankruptcy can have long-term financial and legal consequences. If you're thinking about filing for bankruptcy, then it's wise to consult a lawyer who specializes in this area. If you can't afford a lawyer then check with the American Bar Association to find out if you qualify for free legal help.

In the vast majority of bankruptcy cases, atrustee is automatically appointed when the case is filed. The trustee administers the bankruptcy case by reviewing the documentation of the debtor.

In a Chapter 7 case, the trustee will attempt to sell any non-exempt property to pay creditors. The trustee also has the obligation to be vigilant for fraudulent conduct and failure of the debtor to disclose information. They owe a fiduciary duty to the creditors of a debtor and must collect as many assets as possible to pay creditors.

As bankruptcy is a federal system codified by Congress into the United States Bankruptcy Code, bankruptcy fraud falls under the domain of the federal government. Specifically, bankruptcy fraud, which includes false oaths, failure to disclose debts or assets, and other fraudulent conduct, is a federal crime. Committing bankruptcy fraud can lead to you losing your discharge and could very well land you in jail.

Although the federal government keeps a watchful eye out for bankruptcy fraud, any creditor of a bankruptcy debtor can file a complaint against the debtor. The complaint may seek to deny the debtor a discharge for bankruptcy fraud. In addition, the complaint may seek a judgment by the bankruptcy court that the debt owed to the creditor is non-dischargeable in bankruptcy. A debt may be non-dischargeable under the bankruptcy laws or because the credit was obtained by fraudulent means. Bankruptcy is certainly not a safe haven for the unscrupulous debtor.

Link:

What Is Bankruptcy? - The Balance

If you're in serious debt and can't keep up with repaying loans and credit card bills, Chapter 7 and Chapter 13 bankruptcy are the two most common programs you can use to reduce or eliminate your debt. (In case you're wondering, Chapter 11 is only for businesses.)

Chapter 7 bankruptcy is known as a liquidation bankruptcy. Most of your property is sold and used to pay off your debts. Chapter 7 bankruptcy is generally meant for people with limited incomes who do not have the ability to pay back all or some portion of their debts.

Chapter 13 bankruptcy is referred to as a reorganization bankruptcy. Your property is not sold when you file for Chapter 13 protection, and if you successfully complete a court-mandated repayment plan, you may be able to keep your property.

After completing the repayment plan in which you pay your creditors a portion of the outstanding debt over a fixed period of time, any remaining unsecured debtssuch as credit cards and medical billsmay be "discharged." When debt is discharged, it means you're no longer required to pay back the debt.

Here is a quick reference guide to Chapter 7 and Chapter 13 Bankruptcy.

An important difference between Chapter 7 and Chapter 13 bankruptcy is what happens to your property and possessions.

Most of your property will be sold and used to pay off your debts (for that reason, chapter 7 bankruptcy is often chosen by people who don't own a home). Some of your personal property is exempt from being sold, but there are limits on the value of exemptions.

There are federal exemption rules, as well as state exemption rules. Some states allow you to choose whether you want to use the federal exemptions or your state's guidelines. Other states may insist that you use the state exemption level. Married couples that file for bankruptcy together can typically double the value of exemptions.

Examples of property and value limits mandated by federal Chapter 7 rules include:

*See below for more information.

You can retain up to $23,675 of equity in homes, mobile homes, co-ops or burial plots. If you do not use all of this exemption, up to $11,850 can be used for other property.

If you have less than $23,675 ($47,350 for married couples) in equity in your home, your court-appointed bankruptcy trustee may decide to not sell the home, as there will be no proceeds to pay off your debts after applying your exemption. But that does not prevent your lender from foreclosing on the property.

If your equity exceeds the limit, the house may be sold. You will receive your exemption amount, and the rest of the proceeds will be used to pay off debts.

Personal property can include appliances, book, musical instruments and pets. You are allowed an exemption of $600 per item and a total exemption of $12,625.

Retirement accounts include all savings in a 401(k) or 403(b). The total exemption can be up to $1,283,025 in Individual Retirement Account (IRA) savings.

None of your assets are sold when you file. With a Chapter 13 bankruptcy, you agree to a court-approved repayment plan of your debts. Depending on your income, your repayment period may be three years or five years.

If during the repayment period you catch up on back payments on secured assets (car, home) and are on time with current payments, you will be able to keep them after the repayment plan is finished.

Unsecured debts, including credit card debt and medical debt, can be "discharged" using either Chapter 7 or Chapter 13.

If you qualify for Chapter 7, your unsecured debts will be wiped out when the court approves your filing. This can take a few months.

With a Chapter 13 filing, you must continue to make payments on your unsecured debts during your repayment plan, as instructed in your court-approved plan. If you successfully complete your repayment plan, any remaining unsecured debts may be discharged.

Chapter 7 bankruptcy is typically for people with limited income who do not have the ability to pay back all or some portion of their debts.

If your household income is below the median level for your state, you are eligible for Chapter 7.

If your household income is above the median, you must pass a "means test" that assesses whether you have enough disposable income to be able to pay back some of your debts. Disposable income is income you have left over after covering essential living costs.

If you are deemed to have the means to repay at least some of your debts, you will be required to use Chapter 13 bankruptcy.

To be eligible for a Chapter 13 bankruptcy repayment plan you must have:

Certain debts can't be wiped out in Chapter 7 or Chapter 13. This includes mortgages, and car and student loans.

If you file for Chapter 13 protection, you may be able to have the balance of certain secured loans reduced. For example, in a Chapter 13 "cramdown," your court approved repayment plan may reduce the balance on your car loan to the depreciated value of the car. That can make repayment easier.

Unsecured debts, such as credit card balances and medical debt, can be "discharged" in both types of bankruptcy. In a Chapter 13 bankruptcy, your unsecured debts will only be discharged after you complete the repayment plan.

If you were already behind on debt payments before you filed for bankruptcy, your credit scores may not fall much more once you apply for bankruptcy protection. But typically:

For the 7 or 10 years that a bankruptcy is listed on your credit reports, there will bea negative impact on your credit scores. As time goes by, however, the impact of the bankruptcy on your scores will decline.

During this period you can also begin to rebuild your credit by making on-time bill payments and managing your debts smartly.

You should consider hiring a lawyer who specializes in consumer bankruptcy to help you decide your best bankruptcy option and assist you in petitioning for Chapter 7 or Chapter 13 bankruptcy protection.

You will need to complete a series of official bankruptcy documents. If you are applying for Chapter 13, you will also submit a proposal for repaying your debts. A court-appointed bankruptcy trustee will review your plan, and contact your creditors, before approving a final repayment plan.

Your petition for bankruptcy must be filed at a U.S. Bankruptcy Court. There are more than 90 U.S. Bankruptcy courts in the U.S. Find a local U.S. Bankruptcy Court here.

There is a filing and administrative fee when you file for Chapter 7 or Chapter 13. It costs $335 to file for a Chapter 7 bankruptcy and $310 for a Chapter 13. You can ask the court for permission to pay the fees in four monthly installments. You can also apply to have the fees waived.

If you hire a bankruptcy lawyer, you will also be responsible for paying the lawyer's fees. If you do hire a lawyer, the total cost will likely be somewhere between $1,500 and $4,000 depending on whether your file chapter 13 or 7 and the complexity of the case in general.

Read this article:

Bankruptcy: Chapter 7 vs. Chapter 13 | Experian

Are you having difficulty keeping up with your bills? Imagine how liberating it would feel if you could just call up a magic genie from a bottle and wish for no debt. Unfortunately, it's not quite that easy, but there are some federal laws that can help you manage or eliminate that debt.

You may have previously seen references to Chapter 7 or Chapter 13 bankruptcies, and you have no idea what either is, much less how they're different. Hopefully, we can demystify these terms.

Chapter 7 is also called straight bankruptcy or liquidation bankruptcy. It's the type most people think about when the word "bankruptcy" comes to mind. In a nutshell, the court appoints a trustee to oversee your case. Part of the trustee's job is to take your assets, sell them and distribute the money to the creditors who file proper claims. The trustee doesn't take all your property. You're allowed to keep enough"exempt" propertyto get a "fresh start."

Before a case is filed, you'll have to gather all of your financial recordslike bank statements, credit card statements, loan documents, and paystubs. You'll use that information to fill out thebankruptcy petition,schedules, statement of financial affairs, and other documents that will be filed with the court.You can download copies for free from the website maintained by the U.S. Courts. Your attorney will use bankruptcy computer applications to produce them.

Broadly, these documents include the voluntary petition for relief, the schedules of assets and liabilities, declarations regarding debtor education, and the statement of financial affairs. These documents require you to open up your financial life to the bankruptcy court. They include a listing of all of your property, debts, creditors, income, expenses, and property transfers, among other things.

Once completed, you'll file it with the clerk of your local bankruptcy court and pay a filing fee. If you're interested in finding your local court, visit the federal court locator page, choose "Bankruptcy" under "Court Type" and add your location in the bottom box.

Almost every individual debtor who wants to file a Chapter 7 case has to participate in a session with an approved credit counselor before the case can be filed. This can be in person, online or over the telephone. The rationale behind this requirement is that some potential debtors don't know their options. A credit counselor may be able to suggest alternatives that will keep you out of bankruptcy. You can get more information about this requirement on thewebsite for the U.S. Trustee.

A debtor must also successfully pass the means test calculation, which is another document that must be completed prior to filing for bankruptcy. This test, which was added to the Bankruptcy Code in 2005, calculates whether you are able to afford, or have the "means" to pay at least a meaningful portion of your debts.

The means test compares your income with the median income for your state. If you fail the means test, you can only file Chapter 7 bankruptcy under very specialized exceptions. Your alternative would be to file a Chapter 13 repayment plan case.You can learn more about the means test and the numbers used in the calculation from the U.S. Trustee website.

After a Chapter 7 bankruptcy is filed, the court will issue a document giving notice of a debtor's meeting of creditors. This notice is also sent to all of the creditors that are listed within the bankruptcy documents. During the meeting of creditors, the bankruptcy trustee will ask the debtor various questions about the bankruptcy, such as whether all of the information contained within the bankruptcy documents is true and correct. The trustee may ask other questions about a debtor's financial affairs. If the trustee wishes to investigate the bankruptcy further, they may continue themeeting of creditors on a future date.

It is important to note that at the meeting of creditors, as the name suggests, any creditor may appear and ask a debtor questions about his bankruptcy and finances. In reality, however, the only creditors who appear regularly are car creditors (to ask what you intend to do about your car payments) and the IRS (to ask when you're going to pay back those non-dischargeable taxes).

If you have any nonexempt property, the bankruptcy trustee has the ability to seize and sell the property. Exemptions refer to federal or state statutes that allow you to protect certain types of property when you file bankruptcy. For example, exemptions exist to protect retirement accounts, such as a 401(k) plan. Any assets that the trustee can recover are distributed to creditors.

Before most debtors can receive a discharge, they will have to take a course in financial management. This class is likely taught by the same group that you used for the credit counseling. Plan to spend about two hours in person, online, or on the telephone.

If the trustee and the creditors do not object to the debtor's discharge, the bankruptcy court will automatically give the debtor a discharge at some point after the last day to object. The last day to file a complaint objecting to a debtor's discharge is 60 days after the first session of the meeting of creditors. If no complaint is filed, the discharge is usually entered several days later.

The discharge prevents creditors from attempting to collect any debt against youpersonally that arose prior to the filing of the bankruptcy. Thus, for all intents and purposes, the discharge effectively wipes out debts. However, it is important to note that not all debts are dischargeable, including certain taxes and child or spousal support obligations. Furthermore, a bankruptcy discharge is personal. This means that a creditor can still collect on a discharged debt from a co-debtor that did not file for bankruptcy. A creditor with collateral may also be able to use that collateral to satisfy some of that outstanding debt.

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What Is Chapter 7 Bankruptcy? - The Balance

Amendments

2005Pub. L. 1098, title VIII, 801(b), title X, 1007(d), Apr. 20, 2005, 119 Stat. 145, 188, substituted Adjustments of Debts of a Family Farmer or Family Fisherman with Regular Annual Income for Adjustment of Debts of Family Farmers with Regular Annual Income in item for chapter 12 and added item for chapter 15.

1994Pub. L. 103394, title V, 501(d)(39), Oct. 22, 1994, 108 Stat. 4147, struck out item for chapter 15, United States Trustees.

1986Pub. L. 99554, title II, 257(a), Oct. 27, 1986, 100 Stat. 3114, added item for chapter 12.

Table I

This Table lists the sections of former Title 11,

Bankruptcy, and indicates the sections of Title 11,

as revised by Pub. L. 95598 which cover similar

and related subject matter.

1(1)(3)

Rep.

1(4)

101(12)

1(5)(7)

Rep.

1(8)

101(8)

1(9), (10)

Rep.

1(11)

101(9)

1(12), (13)

Rep.

1(14)

101(11)

1(15), (16)

Rep.

1(17)

101(17), (18)

1(18)

Rep.

1(19)

101(26)

1(20)(22)

Rep.

1(23)

101(30)

1(24)

101(31)

1(25), (26)

Rep.

1(27)

101(34)

1(28), (29)

Rep.

1(29a)

101(38)

1(30)

101(40)

1(31)

Rep.

1(32)

101(24)

1(33), (34)

Rep.

1(35)

102(7)

11(a)(1)

109(a)

11(a)(2)

502(j)

11(a)(2A)

505(a), (b)

11(a)(3), (4)

Rep.

11(a)(5)

721

11(a)(6)

Rep.

11(a)(7)

363

11(a)(8)

350

11(a)(9)(14)

Rep.

11(a)(15)

105

11(a)(16)

Rep.

11(a)(17)

324

11(a)(18)

303(i)

11(a)(19), (20)

Rep.

11(a)(21)

543(b), (c)

11(a)(22)

305(a)(2)

11(b)

Rep.

21

303(h)

22

109(b)

22(a)

301

22(b)

303(a)

23(a)

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U.S. Code: Title 11. BANKRUPTCY | U.S. Code | US Law | LII ...

Conventional wisdom about the outcome of Israel's March 2 election can be summed up with Ecclesiastes 1:9: What has been will be again, what has been done will be done again; there is nothing new under the sun.

The perpetual tie between the two main ideological blocs will prevail; the stalemate that has essentially paralyzed the government for close to a year will endure. In fact, according to Channel 12s crack political analyst Amnon Abramovich, while Benjamin Netanyahu is gearing up for the third election he has inflicted on Israel within a year, he is already strategizing how to go on to the fourth, if the need arises.

Netanyahus game plan is simple: (His) immunity or (Israels) bust. His first preference is to win the election with a 61-member, Avigdor Lieberman-less majority that would commit to exempting him from criminal prosecution. His second preference is to keep Israel in limbo or keep it hostage until he can achieve his first preference. He will release his country from captivity, Netanyahu is telling Israelis, only in exchange for a get-out-of-jail-free card.

Netanyahus gambit is based on a ruse. Ever since it became clear that Attorney General Avichai Mendelblit intends to charge him with three counts of corruption, Netanyahu and his minions have highlighted the clause in Israels Basic Law: The Government that compels a prime minister to resign from his post only after he has been tried, convicted and fully exhausted his right to appeal the verdict.

What they have failed to point out is that the Basic Law refers to a duly elected prime minister who is serving out his term. It does not refer to a prime minister, like Netanyahu, who is heading a caretaker government between elections. And it certainly says nothing about the propriety of an indicted politician running for office or setting up a new government after election. Given that in the previous two elections held this year, in April and September, Netanyahu had yet to be formally charged, it is only now that Israel is entering uncharted watersconstitutionally, politically and morally.

Some of Netanyahus opponents are urging Mendelblit to rule on the issue in the hope that he will nix Netanyahus candidacy on legal grounds. The attorney general, for his part, is doing his best to skirt the legal landmine for fear of inflaming vociferous and potentially dangerous right-wing protests against what Netanyahu has described as a legal putsch. The High Court of Justice, however, has ordered Mendelblit to clarify his position, and if he fails to do so, could decide in his stead.

Lost in the complex debate, however, is the appalling fact that Israels ruling party and outgoing right-wing coalition are rallying behind a politician who has been formally indicted for corruption. The working assumption is that Netanyahu will beat challenger Gideon Sa'ar in the December 26 Likud primary election and would thus be reanointed as the rights candidate for prime minister, despite his indictments. Such a decision may or may not be valid from a legal point of view, but it certainly marks an unprecedented new low in Israeli history: A morally bankrupt challenge to the spirit, if not the letter, of the law.

There are numerous explanations as opposed to justifications for Netanyahus enduring hold on Likud and the right. After 10 straight years in power, Netanyahu casts a giant shadow over any potential rival. His omnipresence makes him seem indispensable and irreplaceable in the eyes of his supporters. Without him, they have come to believe, all is lost.

Likudniks, in any case, are loathe to abandon their party leaders, no matter what: In Israels 71-year-long history, Netanyahu is only the fourth politician to serve as leader of the party. Many of them have been brainwashed by Netanyahu to believe that he is the victim of a nefarious, plot inspired by the left wing. Replacing him, many right-wingers believe, would achieve his enemies goals. Worse, it would make them jump for joy.

Most significantly, the right wings continued backing for Netanyahu is a direct challenge to the rule of law. His supporters are not contesting the facts outlined in the attorney generals charge sheet; they are simply ignoring them. And they are well aware that if Netanyahu emerges victorious from the March 2 election, he will use his Knesset majority to thwart his prosecution and thus undermine Israels legal foundations.

So while Israeli politicians and pundits are bemoaning the March 2 ballot as the third in a series of potentially never-ending elections, the upcoming ballot is fundamentally different. In the previous two, Netanyahu supporters could delude themselves that he would not be charged in the end, but now the die is cast and the masks have come off. The right wing can no longer escape the fact that it is lining up behind a leader who has been formally charged with corruption and whose main goal in life is to extricate himself from a criminal trial. Nor can the Israeli electorate.

Which is why one should be wary of resigned predictions that nothing will change, that the third ballot will yield the same political tie that has stalemated Israel for the past year. The polls are already showing a gradual drift away from Netanyahu and increasing chances that Benny Gantzs Kahol Lavan might be able to muster their own 61-member majority, which would mean that Netanyahus career is over.

If the trend holds, Netanyahu will unleash his entire arsenal of divisive incitement and conspiracy theories. He hasnt spent the past year subverting Israeli politics and paralyzing its government only to be tossed out by voters. His counter offensives will be desperate, dangerous and possibly decisive.

Israelis have understandably grown tired of being told that the elections are critical, pivotal or the most dramatic in Israeli history, only to find out after the votes are counted that nothing has changed. Many more of them might be tempted to sit this one out. That would be a shame, because the indictments have rendered the election as much more than a personal referendum on Netanyahuit is a vote on the future character of Israel itself.

So take nothing for granted. Anything can happen. If not on March 2, then certainly in the fourth election that will ensue.

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Netanyahu's post-indictment candidacy reflects moral bankruptcy of Likud and the Israeli right - Haaretz

CHARLOTTE, N.C., Dec. 13, 2019 /PRNewswire/ --Kaiser Gypsum Company, Inc. and Kaiser Cement Corporation (now known as Hanson Permanente Cement,Inc.) (together, the "Debtors") made certain products that contained asbestos. These products included various exterior stucco materials, joint compounds for wallboard and radiant heating components, texturizing paint and other related products (the "Products"). A full list of the Products can be found at https://cases.primeclerk.com/kaisergypsum. People using these Products (and family members and others who came into contact with these people) may have been exposed to asbestos. The Debtors are now in bankruptcy and people with claims of injury caused by exposure to asbestos in the Products have certain rights that may be affected by the bankruptcy filing.

The Debtors have filed a Joint Plan of Reorganization (the "Plan") and a Disclosure Statement, a document that provides important information about the Plan. The Disclosure Statement has been approved and will be sent to individuals with asbestos-related personal injury claims so that they can vote whether to accept or reject the Plan. A hearing to consider confirmation of the Plan (the "Confirmation Hearing") has been scheduled for March 30, 2020 to April 4, 2020 in the U.S. Bankruptcy Court for the Western District of North Carolina, 401 W. Trade St., Charlotte, NC 28202. Information on the Confirmation Hearing and all Plan-related documents is available at https://cases.primeclerk.com/kaisergypsum.

Am I Affected by the Plan?

If you claim to have been injured by asbestos in any of the Products, you are entitled to vote to approve or reject the Plan. The full Disclosure Statement and a ballot were sent to all lawyers representing individuals with current asbestos-related personal injury claims against the Debtors or directly to those individuals. A vote to accept or reject the Plan must be received by 5:00 p.m., prevailing Eastern Time, on February 20, 2020. If you believe you have an asbestos-related personal injury claim against the Debtors and have questions, then you should contact your lawyer immediately.

What does the Plan do?

The Plan is the result of a settlement between the Debtors and court-appointed representatives of current and future asbestos claimants. The Plan preserves the Debtors' asbestos insurance coverage and permits asbestos personal injury claimants to pursue insurance recoveries in the tort system. The Plan also proposes to create a trust to pay asbestos-related personal injury claims to the extent the claims are not covered by insurance. If the Plan is approved, money can only be received from insurance and the trust; asbestos personal injury claimants will not be able to recover money from the Debtors or other protected parties listed in the Plan. If you have a pending lawsuit against the Debtors, you should talk to your lawyer about how the Plan may affect you.

How to Obtain Documents.

Copies of the Disclosure Statement, which includes the Plan, the voting materials and the notice of the Confirmation Hearing may be obtained by visiting this website: https://cases.primeclerk.com/kaisergypsum. You may also obtain copies of these documents by sending a request, in writing, to Prime Clerk, LLC, Kaiser Gypsum Company, Inc. Ballot Processing, c/o Prime Clerk, One Grand Central Place, 60 East 42nd Street, Suite 1440, New York, New York 10165 or by calling (855) 855-7644.

What if I want to Object to the Plan?

If you have a lawyer, you should talk to him or her about any concerns you may have about the Plan. You may object to the Plan if you do not like all or part of it. The deadline for filing and serving objections to the confirmation of the Plan is 5:00 p.m., prevailing Eastern Time, on February 20, 2020. All objections must comply with the requirements set forth in paragraph 12 of the notice of the Confirmation Hearing, which is posted at https://cases.primeclerk.com/kaisergypsum.

For more information, visit https://cases.primeclerk.com/kaisergypsum or call toll-free (855) 855-7644.

SOURCE U.S. Bankruptcy Court for the Western District of North Carolina

https://cases.primeclerk.com/kaisergypsum

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Bankruptcy Filing by Kaiser Gypsum Company, Inc. and Kaiser Cement Corporation May Affect the Rights of Asbestos Personal Injury Claimants -...

Tuesday marks the five-year anniversary ofDetroit's exitfrom thelargest city bankruptcyin the nation's history.

Now billionslighter in debt and running $100 million-plusannualsurpluses, Detroit isin phenomenally better financial shape than when itentered the bankruptcy, which lasted 17 months.

But the process didnot eliminateall futureobstacles,and whether the citycankeepits budget act together and avoid a do-over bankruptcy is a question that may find ananswer over the next five to seven years.

The first big challenge comes in mid-2023, when Detroit's "pension holiday"ends and it must startmaking fullyearly contributionsabout $163 million a year and every yeartoward two city retirees'pension funds. The city was given avacation from pension payments as part of its post-bankruptcy restructuring plan.

Detroit Mayor Mike Duggan, left, accepts a check from Michigan Governor Rick Snyder, as outgoing Detroit emergency manager Kevyn Orr, back right, watches during Press conference to announce the City of Detroit's exit from bankruptcy at the Public Safety Headquarters in Detroit on Wednesday, December 10, 2014.(Photo: Detroit Free Press)

The next obstacle arrives in about 2026, when expenditures in Detroit's annualbudget are projected to begin exceeding revenues.

And yet another hits in the mid-2030swith the expiration of the so-called "Grand Bargain" money that saved city pensioners during the bankruptcy fromdeeper benefits cuts.

"We still have a lot of challenges ahead," said Gerald Rosen, a retiredfederal judge who was the mediator in Detroit's bankruptcy case. "But I dont think anyone could have predicted on July 18 of 2013 that in six years, we'dbe where we are.The city has rebounded; its fiscal health is terrific now compared to where it was."

When Detroit filed for bankruptcy in thatsummer of2013,it was beyond broke and face down in $18 billion ofdebt, unable to payfor many basic city services and at risk of seeing an artwork firesale attheDetroit Institute of Arts to pay offcreditors.

More: Even 5 years later, retirees feel the effects of Detroit's bankruptcy

More: How Detroit went broke: The answers may surprise you and don't blame Coleman Young

It was the culmination of many bad things,including a giantexodus of residents, plummeting tax revenues, a billion-dollar borrowing binge and a failure by leadersto cut expenses when they needed to.

The bankruptcyeradicated$7 billion in debt, eliminatedbillions morein future payments and health-care obligationsforretired city workersand savedDIA artwork from a forced sale.

When Detroit exitedbankruptcy onDec. 10, 2014, the future wasn't supposed to be one of endless austerity.Detroit was givenarestructuring path, called thePlan of Adjustment, that envisioned the cityspending $1.7 billion over 10 years to financenew investments andimprovements toservices.

YetDetroitdidn't emerge with an entirely cleanslate. The city still had debt and future obligations on its books andthe problemof a predominately poor and still-shrinking population within a 139-square-mile city oncehome to 1.2million in 1980.The latest population estimate is 673,100 as of last year.

To prepare forthe coming spikein required pension payments,Detroit City Council and Mayor Mike Duggan created aRetiree Protection Fund to squirrel away some of the budget surplus moneyto later ease the shock of thebigpension payments that startin the 2024 budget year,whichactually begins July 1 of2023.

The protection fundwasn't in the original restructuring plan, but became necessary whenit emergedthat pension consultants during the bankruptcy had used outdated mortality tables whichlowballed the city's estimated pension payments.

TheRetiree Protection Fundis expected to have $335 millionin it by the time the "pension cliff" arrives next decade.

In another move,Detroitrecently doubled the size of its rainy day fund to better prepare for any economic downturn. The rainy day fund is now about 10% of the general fund, up from 5%.

Financial expertshadwarned that two ofDetroit's three largest annual revenue sources income taxes and gaming taxesfrom thethree casinosare atrisk if and when the next recession happens.

There wasnt a single dissenting voice on (city)council, because they all understand the importance of that,"Detroit Chief Financial OfficerDavid Massaron saidabout the rainy day fund increase.I think well be able to manage any economic headwind and the pension cliff in2024."

Council President Brenda Jones, who is also a member ofthe Detroit Financial Review Commission, declined through a representativeaninterview for this story.

The city's other big revenue source, its roughly $200-million-per-yeartake ofstate revenue-sharing funds, is projected to drop by a modest degreeasalikely resultof Detroit havinga smallerpopulation inthe 2020 U.S. Census than in2010.

"The mayor's office has been mobilizing to make sure everyone is counted, but the effect could still be negative for Detroit," financial analysts at S&P Global Ratings said in a report this year.

Mayor Duggan cited theRetiree Protection Fund when asked last weekwhether the city would be ready to makeitslarge pension payments.

"Thats a big reason why weve had so many credit upgrades," he told the Free Press."So I feel very good about where we are.

Wall Street credit rating agencies have praisedDetroit since the bankruptcy for its stabilizedfinances, revitalizeddowntownand success in attracting newhigh-profile development projectssuch as the Flex-N-Gate automotive supplier plant, Ford's train station redevelopmentand this year's announcement of a largeFiat Chrysler plant expansion.

The city's income tax receiptshave grownmore than$70 million since leaving bankruptcy.

But despite giving Detroit some creditupgrades, the rating agenciesstill deem the city's debt assomewhat risky and below investment grade, what is commonly known as "junk."

Financial analysts notehow most of theeye-catching growth hashappened in and around downtownnot throughoutthe city and how Detroit city schools, now known as theDetroit Public Schools Community District,are still struggling and "could also become a major drag on revitalization beyond downtown."

In addition, Detroit did a citywide parcel-by-parcel reappraisal several years agothat resulted in some lower property tax assessments.

"Detroit is left with a combustible brew: a reliance on volatile revenue sources and growing fixed costs," Moody's Investors Service said in reportlast year. "Detroit's combined debt and pension burden compared to the property tax base is extremely high compared with other major cities."

Even so, Detroit hit a milestonelast December when itsold about $135 million in general obligation bonds for capital improvements,at a surprisingly low4.8% interest rate for a junk-rated city not long out of bankruptcy.

The bond sale was not only the city's first sincebankruptcy, butalso itsfirst bond sale inmore than 20 years that didn't require "credit enhancements," such as buying bond insurance, to reassure investors and get abetter rate, according to Massaron. The city even upped the size of the sale by over $20 millionin response tostrong investor demand.

"We were a number of times oversubscribed, which means we had more investors than we had debt to sell,"Massaron said, "which shows that people believe in the continued resurgence and financial stability of the city.

One of itsbiggest achievements was theGrand Bargain, anunprecedented dealthat pooled about $820 million over 20 years inphilanthropicfoundation money and state funds toshore up city retirees' pension fundsandsafeguard the DIAcollection.

Steven Rhodes, the federal judge who presided over the bankruptcy, memorably warned representatives for thecity's retirees to not dismiss the Grand Bargain, even though the deal called forcuts to pensions and health care benefits.

From left, Chrysler executive Reid Bigland, General Motors Mark Reuss, Ford Motor Co.s Joe Hinrichs, Detroit Institute of Arts Director Graham Beal, Detroit emergency manager Kevyn Orr, Chief U.S. District Judge Gerald Rosen and DIA Arts Chairman of the Board Eugene Gargaro Jr. listen during a news conference announcing pledges to the DIAs grand bargain commitment in June. (Photo: Romain Blanquart/Detroit Free Press)

Detroit's bankruptcywas officially classified as a Chapter 9 municipal bankruptcy.

"Now is not the time for defiant swagger or for dismissive pound-the-table, take-it-or-leave-it proposals that are nothing but a one-way ticket to Chapter 18," he said. "This is bankruptcy jargon for a second Chapter 9."

In the end, the city's two older pension plans were frozen and retirees saw their benefits cut. Still, the cuts were smaller than they likely would have been without the Grand Bargain. Twonew pension plans were createdfor current and future workers. About 32,000 active or retired workers were impacted.

The police and firefighter pensioners didn'tface upfront cuts to their pension checks, but saw their2.25% annual cost-of-living increases reduced to about 1%. They also took cuts related to health care.

The city's general retirees took a 4.5% base cut in pensions and the elimination of annual cost-of-living increases.

To implement the Grand Bargain funding, a new nonprofit affiliate of the Community Foundation for Southeast Michigan was set up called the Foundation for Detroit's Future.

"The idea in the Grand Bargain was there were going to be financial controls and oversight to make sure the city did not fall into the same bad habits that got them there,"said DougBernstein, a bankruptcy attorney at Plunkett Cooney in Bloomfield Hills who is counsel for the new foundation.

Collage of former Detroit Emergency Manager Kevyn Orr (left), Michigan Gov. Rick Snyder (center) and Judge Bernard Rosen (right), who negotiated the Grand Bargain as Detroit moved to exit bankruptcy.(Photo: DFP)

Upon exiting bankruptcy, the city was placed under oversight of anine-member Detroit Financial Review Commission, chaired by the state treasurer, that initially oversawall city budgets, borrowing andlarge city-issued contracts.

After the city delivered three consecutive years of balanced budgets, the commission released Detroit in April 2018 from direct oversight. The commission continues to monitor Detroit's financial situation and can comeback if the budget falls out of balance.

On the budget front,startingabout2026, the city'sexpenditures areforecast to begin exceeding revenues. Avoiding that problem will require"more economic growth and development," according to the forecast.

Detroit did a debt restructuring last yearto preventa $25-million debt spike in themid-2020s. That maneuver ultimately saved some money, but pushed forward some higher debt paymentsinto the following decade.

"It is incumbent upon the mayor and city council to work together through upcoming budgets to ensure we continue on a fiscally sustainable path,"Massaron, the city's CFO, said in an email about the forecasted budget imbalance.

Yet another big challenge arrivesin 2034-2035 budget year, whenthe Grand Bargain expires. The city's pension payments from its general fund will then jumpto about $181 million per year.

Massaron said Detroit remains on pace to achieve its $1.7 billion spending goal forcity servicesby the 10-year anniversary of exiting bankruptcy. Some of the investments so far include:

An estimated 40% of Detroit's streetlights weren't working at the time of the bankruptcy. In 2016, Detroit became the largest U.S. city to haveall light-emitting diode (LED) streetlights. That three-year, $185-million projectwas financed througha public authority separate from city governmentand wasset in motion by former Mayor Dave Bing.

Massaron said he doesn't considerthe city in anydanger of a secondbankruptcy.

Right now, I would say the answer is no," he said. "And I would say the answer is no in large part because we have alignment among policymakers around making fiscally responsible decisions."

Rosen, the former bankruptcy mediator, said he gives city officials "an A+" for their management of Detroitsince leaving bankruptcy.

"I think the measure of the success is the rebound the city is experiencing now," he said.

Contact JC Reindlat 313-222-6631 or jcreindl@freepress.com. Follow him on Twitter@jcreindl. Read more on business and sign up for our business newsletter.

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5 years out of bankruptcy, can Detroit avoid another one? - Detroit Free Press

Fox Business Briefs: California state regulators find PG&E neglected power lines for years, including the one that sparked the deadly Camp Fire; the dramatic rise and fall of WeWork and its former CEO Adam Neumann will be brought the big screen.

California utilityPacific Gas and Electricis spending thousands of dollars or more on weather stations and cameras to monitor wildfire conditions, the company said on Wednesday shortly after reachinga$13.5 billion settlementfor wildfire-related claims.

The company added more than 600 weather stations and 130 high-definition cameras and it plans to have1,300 stations and 600 cameras installed to saturate high-risk areasby 2022.

PG&E HAD SYSTEMIC PROBLEMS WITH POWER LINE MAINTENANCE, CALIFORNIA PROBE FINDS

"The station observations allow our meteorologists to analyze critical fire weather elements like extreme wind, temperature and low humidity," Ashley Helmetag, a PG&E senior meteorologist, said in a statement. "The stations and cameras are a part of our real-time situational awareness tools that assist us as we make decisions on Public Safety Power Shutoffs to protect our communities."

PG&E did not respond to a request for comment from FOX Business.

Both the weather stations and cameras can cost thousands or even tens of thousands of dollars.

PG&E'ssettlement, which the utility says was reached Friday, still requires court approval. PG&E says it is a key step in leading it out of Chapter 11 bankruptcy.

It adds that the settlement will resolve all claims arising from the 2017 Northern California wildfires, the 2018 Camp Fire, the 2015 Butte Fire and the 2016 Ghost Ship Fire in Oakland.

CLICK HERE TO READ MORE ON FOX BUSINESS

However, one of PG&E's main creditors, ElliottManagement Corp., is pressuring California Gov. Gavin Newsom to reject the company's restructuring plan, Bloomberg reported this week. They want an alternative plan that would include the same amount of money for wildfire victims.

Elliott Management said in a statement Tuesday that PG&E's plan "benefits only a small group of its current shareholders at the expense of the utility's other key stakeholders."

Search and rescue workers search for human remains at a trailer park burned by the Camp Fire, Tuesday, Nov. 13, 2018, in Paradise, Calif. (AP Photo/John Locher)

Elliott Managementsaid PG&E's plan would increase the company's debt by $10 billion to $34 billion compared to its January bankruptcy filing. Elliott Management wants to see total debt limited to a more "moderate level."

Controversy over the utility company also comes after PG&E shut off power for hundreds of thousands of customers this year in order to prevent wildfires. PG&E initiated shutoffs so that any power lines damaged by the winds would not contribute to the spread of wildfires. Such decisions were widely seen as a play to limit liability.

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The Associated Press contributed to this report.

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PG&E invests in weather stations, cameras to monitor wildfires amid bankruptcy turmoil - Fox Business

LUBBOCK, Texas The United States Trustee asked a judge to basically toss out the Reagor Dykes reorganization plan and convert its bankruptcy case from Chapter 11 (reorganization) to Chapter 7 (liquidation).

The trustee suggested January 7 be the cutoff date for Reagor Dykes to get a plan approved or else stop reorganization.

The office of trustee listed out the net losses of seven Reagor Dykes companies that field for bankruptcy in August 2018.

a) Reagor-Dykes, LP: net loss of $3,190,437.00b) Reagor-Dykes Snyder: net loss of $717,602.00c) Reagor-Dykes Floydada, LP: net loss of $2,001,799.00d) Reagor-Dykes Auto Company, LP: net loss of $2,790,368.00e) Reagor-Dykes Auto Mall, LLC: net loss of $2,676,907.00f) Reagor Dykes Imports, LP: net loss of $2,346,225.00g) Reagor Dykes Amarillo, LP: net loss of $2,001,291.00

On Tuesday the trustee wrote in court records, the Debtors have been in bankruptcy collectively for 496 days and have been unable to confirm a plan.

The United States Trustee Program is a division of the U.S. Department of Justice to oversee bankruptcy cases.

Reagor Dykes filed for bankruptcy after Ford Motor Credit Company made allegations of fraud and default. Local banks also made allegations of fraud. So far, nine former Reagor Dykes employees pleaded guilty to federal charges.

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U.S. government objects to letting Reagor Dykes continue in bankruptcy - KLBK | KAMC | EverythingLubbock.com

Family drama. One month after real estate developer Mohamed Hadid was ordered to tear down his $100 million Bel Air mansion due to safety concerns, neighbors allege that Gigi and Bella Hadids dad is committing bankruptcy fraud by removing valuables from the property.

The real estate developers 901 Strada LLC declared bankruptcy on November 27, a move that, while stressful, Gigi and Bella are relieved about. [They] know that the filing caused a lot of stress but are happy its settled, a source exclusively reveals in the new issue of Us Weekly.

The neighbors suspect the tycoon, 71, will try to avoid paying for the mansions $5 million demolition, which hes said he cant afford, and therefore the responsibility would fall on local taxpayers. However, Hadids lawyer denies any wrongdoing.

Formoreon the Hadid scandal, watch the video above, and pick up the new issue of Us Weekly, on newsstands now.

With reporting by Brody Brown

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What Gigi and Bella Hadid Think of Dad Mohamed Hadids $100 Million Bankruptcy Nightmare - Us Weekly

Bankruptcy is a legal process overseen by federal bankruptcy courts. It's designed to help individuals and businesses eliminate all or part of their debt or to help them repay a portion of what they owe.

Bankruptcy may help you get relief from your debt, but it's important to understand that declaring bankruptcy has a serious, long-term effect on your credit. Bankruptcy will remain on your credit report for 7-10 years, affecting your ability to open credit card accounts and get approved for loans with favorable rates.

Bankruptcy can be a complex process, and the average person probably isn't equipped to go through it alone. Working with a bankruptcy attorney can help ensure your bankruptcy goes as smoothly as possible and complies with all the applicable rules and regulations governing bankruptcy proceedings.

You'll also have to meet some requirements before you can file for bankruptcy. You'll need to demonstrate you can't repay your debts and also complete credit counseling with a government-approved credit counselor. The counselor will help you assess your finances, discuss possible alternatives to bankruptcy, and help you create a personal budget plan.

If you decide to move forward with bankruptcy proceedings, you'll have to decide which type you'll file: Chapter 7 or Chapter 13. Both types of bankruptcy can help you eliminate unsecured debt (such as credit cards), halt a foreclosure or repossession, and stop wage garnishments, utility shut-offs and debt collection actions. With both types, you'll be expected to pay your own court costs and attorney fees. However, the two types of bankruptcy relieve debt in different ways.

Chapter 7 bankruptcy, also known as "straight bankruptcy," is what most people probably think of when they're considering filing for bankruptcy.

Under this type of bankruptcy, you'll be required to allow a federal court trustee to supervise the sale of any assets that aren't exempt (cars, work-related tools and basic household furnishings may be exempt). Money from the sale goes toward paying your creditors. The balance of what you owe is eliminated after the bankruptcy is discharged. Chapter 7 bankruptcy can't get you out of certain kinds of debts. You'll still have to pay court-ordered alimony and child support, taxes, and student loans.

The consequences of a Chapter 7 bankruptcy are significant: you will likely lose property, and the negative bankruptcy information will remain on your credit report for ten years after the filing date. Should you get into debt again, you won't be able to file again for bankruptcy under this chapter for eight years.

Chapter 13 bankruptcy works slightly differently, allowing you to keep your property in exchange for partially or completely repaying your debt. The bankruptcy court and your attorney will negotiate a three- to five-year repayment plan. Depending on what's negotiated, you may agree to repay all or part of your debt during that time period. When you've completed the agreed repayment plan, your debt is discharged, even if you only repaid part of the amount you originally owed.

While any type of bankruptcy negatively affects your credit, a Chapter 13 may be a more favorable option. Because you repay some (or all) of your debt, you may be able to retain some assets. What's more, a Chapter 13 bankruptcy will cycle off your credit report after seven years, and you could file again under this chapter in as little as two years.

Throughout bankruptcy proceedings, you'll likely come across some legal terms particular to bankruptcy proceedings that you'll need to know. Here are some of the most common and important ones:

While bankruptcy can eliminate a lot of debt, it can't wipe the slate completely clean if you have certain types of unforgivable debt. Types of debt that bankruptcy can't eliminate include:

Perhaps the most well-known consequence of bankruptcy is the loss of property. As previously noted, both types of bankruptcy proceedings can require you to give up possessions for sale in order to repay creditors. Under certain circumstances, bankruptcy can mean losing real estate, vehicles, jewelry, antique furnishings and other types of possessions.

Your bankruptcy can also affect others financially. For example, if your parents co-signed an auto loan for you, they could still be held responsible for at least some of that debt if you file for bankruptcy.

Finally, bankruptcy damages your credit. Bankruptcies are considered negative information on your credit report, and can affect how future lenders view you. Seeing a bankruptcy on your credit file may prompt creditors to decline extending you credit or to offer you higher interest rates and less favorable terms if they do decide to give you credit.

Depending on the type of bankruptcy you file, the negative information can appear on your credit report for up to a decade. Discharged accounts will have their status updated to reflect that they've been discharged, and this information will also appear on your credit report. Negative information on a credit report is a factor that can harm your credit score.

Bankruptcy information on your credit report may make it very difficult to get additional credit after the bankruptcy is discharged at least until the information cycles off your credit report. Lenders will be cautious about giving you additional credit, and they may ask you to accept a higher interest rate or less favorable terms in order to extend you credit.

It will be important to begin rebuilding your credit right away, making sure you pay all your bills on time. You'll also want to be careful not to fall back into any negative habits that contributed to your debt problems in the first place.

Just as bankruptcy can hinder your ability to obtain unsecured credit, it can make it difficult to get a mortgage, as well. You may find lenders decline your mortgage application, and those that do accept it may offer you a much higher interest rate and fees. You may be asked to put up a much higher down payment or shoulder higher closing costs.

Rather than give up your home and try to get a new mortgage after bankruptcy, it may be better to reaffirm your current mortgage during bankruptcy proceedings. You would be able to keep your home, continue paying on your current mortgage free of other debts and stay in your current home.

When you're struggling with unmanageable debt, bankruptcy is just one solution; there are others to consider. Most will also affect your credit, but probably not as badly as a bankruptcy plus, these alternatives can allow you to keep your property, rather than having to liquidate it in bankruptcy proceedings.

Some bankruptcy alternatives you might consider are:

Be aware that whenever you fail to honor the debt-repayment terms you originally agreed to, it can affect your credit. That said, bankruptcy will still have a more significant negative impact on your credit than will credit negotiation, credit counseling and debt consolidation.

Whenever you fail to repay a debt as you originally agreed to, it can negatively affect your credit. Some types of debt relief come with consequences that are more damaging and long-term than others. Before you make any decision about debt relief, such as declaring bankruptcy, it's important to research your options, get reliable advice from a qualified credit counselor, and understand the impact your choices can have on your overall financial well-being.

Regardless of what type of debt relief you choose, you can begin taking better care of your credit immediately by putting simple, responsible, credit-positive actions into practice such as:

See the article here:

Bankruptcy: How it Works, Types & Consequences | Experian

If you owe past due federal taxes that you cannot pay, bankruptcy may be an option. Other options include an IRS payment plan or an offer in compromise.

If you are a person that has filed bankruptcy, a debtors attorney or a U.S. Trustee with questions about an open bankruptcy you may contact the IRS Centralized Insolvency Operations Unit, Monday through Friday, 7:00 a.m. to 10:00 p.m., EST, at 1-800-973-0424.

For individuals, the most common type of bankruptcy is a Chapter 13. Before you consider filing a Chapter 13 here are some things you should know:

Partnerships and corporations file bankruptcy under Chapter 7 or Chapter 11 of the bankruptcy code. Individuals may also file under Chapter 7 or Chapter 11. For additional tax information on bankruptcy, refer to Publication 908, Bankruptcy Tax Guide and Publication 5082, What You Should Know about Chapter 13 Bankruptcy and Delinquent Returns (PDF).

Other types of bankruptcy include Chapters 9, 12 and 15. Cases under these chapters of the bankruptcy code involve municipalities, family farmers and fisherman, and international cases. For information see Other Types of Bankruptcy Chapters 9, 12 & 15.

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Declaring Bankruptcy | Internal Revenue Service

The attorney for the owner of Connellsvilles only hotel has filed a motion asking to close its case in bankruptcy court.

Attorney Daniel R. Schimizzi, who represents Trailside Lodging, filed a motion for entry of final decree in U.S. Bankruptcy Court for the Western District of Pennsylvania.

Trailside owned the former Cobblestone Hotel on North First Street. The hotel has since been rebranded and is open and operating as a Comfort Inn.

Its always been the goal to keep the hotel open and running in the Connellsville area, Schimizzi said on Thursday. I know that the company is excited to keep operating and moving forward.

In February, two years after the three-story, 54-room hotel opened, Trailside filed for Chapter 11 bankruptcy. The filing came after Cobblestone, a national chain, cut off the hotels ability to accept reservations, because Trailside owed $20,595 in fees. The petition indicated that the hotel thrived during the warmer months with people using the nearby Great Allegheny Passage, but struggled in the winter months.

In August, the Connellsville Redevelopment Authority board voted to authorize a ballot in favor of the sale of the hotel because officials in Connellsville invested $100,000 in the project in exchange for a 5.1% share in the hotels profits and a portion of the rent from a retail shop planned for the first floor.

In September, the Cobblestone became a Comfort Inn. Its sole proprietor under the agreement reached in bankruptcy court is listed in court paperwork as Nate Morgan.

Now, Schimizzi wrote, the case is ready to be closed.

We were fortunate enough to have a lot of cooperation with all the parties involved and accomplished the goal in a relatively short period of time, he said.

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Connellsville's only hotel is closer to closing bankruptcy case in court - Uniontown Herald Standard

IRVING, Texas, Dec. 12, 2019 /PRNewswire/ --On December 7, 2019, the business operations of Think Finance, LLC and its subsidiaries emerged from Chapter 11 bankruptcy proceedings as reorganized entities following approval of their joint Chapter 11 plan by the United States Bankruptcy Court for the Northern District of Texas. As part of the ruling, the Think Finance entities resolved all governmental and private lawsuits and claims against them. The reorganized business will operate as new subsidiaries of TF Holdings, Inc.

Think Finance was founded in 2001 and quickly became a software and financial services innovator by making one of the first online loans. The company provided online lenders with loan origination, underwriting, and loan management products. In 2014, the company split into two independent companies as part of a larger growth strategy.

"It's been a long two years waiting to finalize our exit from bankruptcy proceedings," said Martin Wong, CEO of TF Holdings. "The restructuring was complicated and involved the settlement of multiple class action and regulatory claims that we vigorously fought. Throughout the ordeal, we have steadfastly maintained that we have conducted our business in compliance with law. I am pleased that we were able to work our way through it and exit bankruptcy with core assets including our technology and personnel intact. We will emerge a materially stronger and more competitive company with this behind us."

With this milestone, TF Holdings and its subsidiaries will be able to grow their offerings with cutting edge credit and financial wellness tools.

"TF Holdings will continue the legacy started by Think Finance 18+ years ago, and this will be reflected in our best-in-class product offerings and commitment to being a market leader," Martin noted. "We look forward to furthering our mission to serve consumers and lenders with the best technology solutions."

About TF Holdings, Inc.

TF Holdings, Inc., through its subsidiary companies provides credit and financial wellness tools to consumers, and licenses loan origination, risk underwritingand loan management software to lenders. The company's businesses serve consumers and lenders with a portfolio of innovative products, including Jora Credit, Echo Credit, iQ Decision Engine and the Cortex loan management platform. TF Holdings, Inc. is based in Irving, Texas, and backed by prominent venture capital firms Sequoia and Technology Crossover Ventures.

SOURCE TF Holdings, Inc.

https://tfholdingsinc.com/

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Think Finance Reorganizes and Exits Bankruptcy Protection - PRNewswire

Allegheny County, Pennsylvania, is poised to implement a major change in the way families are hooked up with social services come January 2020. If Allegheny County sounds familiar, its probably because the county recently received significant attention for its child welfare investigative process. In 2015, it incorporated a predictive algorithm called the Allegheny Family Screening Tool into its child welfare program. That algorithm analyzes parental and family data to generate a risk score for families who are alleged to have maltreated a child.

In 2020, Allegheny will begin applying a similar algorithm to every family that gives birth in the county, with the goal of linking families in need to supportive services before a maltreatment case is opened. But some critics insist that it will be just another way for government to police the poor.

The new program is called Hello Baby. The plan is to eventually apply it across the county, but the January launch will begin in only a select few hospitals. Like the Allegheny Family Screening Tool, the Hello Baby algorithm analyzes family data to apply an individual family score.

Emily Putnam-Hornstein, who helped design both programs, told TalkPoverty that Hello Baby uses slightly different data than the child maltreatment algorithm, which was criticized for targeting poor families because much of the data used was available only for people who used public services.

This is a universal program, explained Putnam-Hornstein. In the [child services] model the county was being forced to make a decision after an allegation had been received; in this case were taking about more proactively using data so we wanted that to be built around universally available data.

But these exclusions dont guarantee that the data will not end up targeting low-income families again. They rely on data where the county has the potential to have records for every family, said Richard Wexler, the executive director of the National Coalition for Child Protection Reform. The county acknowledges they will probably use data from [Child Protective Services], homeless services, and the criminal justice system, so yes, theoretically everyone can be in that, but we know whos really going to be in it.

An overview provided by the county online cites birth records, child welfare records, homelessness, jail/juvenile probation records as some of the available service data incorporated into the predictive risk algorithm, indicating that Wexlers assessment was absolutely correct. Although that data is potentially available about anyone, several of these systems are known to disproportionately involve low-income people and people of color.

Putnam-Hornstein said via email that the Hello Baby process is truly voluntary from start to finish. A family can choose to drop-out of the program or discontinue services at any time.

The option to drop out will be presented at the hospital, when families are first told about the program. A second notification, and chance to opt-out, will then be made by postcard. If a family doesnt respond to the postcard, they are automatically included in the next phase of the program, which involves running available data through the system to determine how much social support each family needs.

According to Putnam-Hornstein, scores will be generated about four to six weeks after birth for families that do not choose to opt out (or who are too busy to realize they want to). Once a family is scored, what happens next varies based on which of three tiers they fall into.

Under the universal tier, the most basic approach, families receive mail notifications about resources available throughout the county. Families grouped in the second, family support, tier will receive a visit from a community outreach provider and an invitation to join one of 28 Family Support Centers located around the city of Pittsburgh.

The priority tier engages families with a two-person team made up of a peer-support specialist and a social worker who will work closely with the families to identify their needs and partner them with appropriate providers. It is designed to be an individualized program that grants families access to the full range of support services available on a case-by-case basis. That could mean helping a parent navigate the complexities of applying for housing assistance or ensuring timely placement in a substance use treatment program. The county said in its promotional material which was reinforced by Putnam-Hornstein over the phone and by email that choosing not to engage with any aspect of the program will not lead to any kind of punitive action.

But parents who need supportive services still have reasons to fear intervention from child services. The reality is that any program putting families in contact with social service and medical providers means, by default, also putting those families at greater risk of being reported to child services by placing them in more frequent contact with mandated reporters.

A mandated reporter is someone who is legally required to report any suspicions of child maltreatment they encounter. The intention is to ensure timely detection of as much child abuse and neglect as possible, but data have not shown that an uptick in mandatory reporting equates to more child safety.

In Pennsylvania, nearly anyone who regularly interacts with children in a professional or semi-professional capacity is legally considered a mandated reporter. An unfortunate side-effect of the mandated reporter system is that even though a referral program like Hello Baby is not directly involved with child services, participating families will always be haunted by the possibility of coming under investigation.

Putnam-Hornstein assured that familys scores will not be retained or shared with child services, even for families under investigation but noted that it is possible that child welfare workers could infer the level of risk if the family has voluntarily agreed to participate in Hello Baby Priority services and a child welfare worker learned that when gathering family history.

Its clear that the new program is not designed to get families involved with child services, although it is spearheaded by the Department of Human Services, which oversees the Office of Children, Youth, and Families that conducts child maltreatment investigations and responses. Rather, Hello Baby was created with the goal of offering a more equitable way to expedite service referrals for families with new children who need them.

Universalizing the assessment of social needs at birth is the only way to avoid discrimination, said Mishka Terplan, an obstetrician and addiction medicine physician, who was not talking specifically about the Hello Baby program. He observed that patients with obvious social needs, such as those suffering from acute addiction, were often screened and referred for other issues, like postpartum depression or housing assistance, while other parents needs were going undetected and unaddressed. That seemed unfair, he lamented. Terplan believes that universal screening programs would eliminate both the disparity between services rendered, and reduce the stigma attached to needing behavioral health treatment and other social supports.

Hello Babys creators hope that offering families these programs before there is a child maltreatment complaint can help keep them out of the system altogether. But by using imbalanced data points like child welfare history, homeless services, and county prison history to auto-generate scores, it assumes poverty as the main basis for family need. While poverty does generate certain needs, it is not the only indicator for the whole range of unique social supports that new parents require, such as mental health screening or child care assistance.

A system that continues to embed data that target the poor may only end up automating the social inequities that already exist, while placing vulnerable families under increased scrutiny by mandated reporters for the child welfare system even if it intends to serve as a universal screening process that helps families avoid punitive interventions.

As long as the system confuses poverty for neglect, any form of such screening is extremely dangerous, said Wexler.

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Bankruptcy Promised Me a Fresh Start. Predatory Lenders Are Trying to Ruin It. - TalkPoverty

Updated: May 25, 2018:

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To Be (Held in Contempt) or Not To Be? That Is the (Bankruptcy) Question - JD Supra

A free job board FreightWaves established to connect those seeking new employment in the freight industry after the Celadon shutdown has quickly gained popularity with employers.

The job and career board connects recruiters, companies and applicants in finding logistics talent nationwide.

On Wednesday, FreightWaves announced that in its first 24 hours, the board had close to 500 job postings from 225 employers. Approximately 50 people have applied for jobs so far a number expected to grow in the coming days.

The holiday season can be stressful for individuals facing a sudden job loss, as well as for their families. That is why FreightWaves is lending a hand to those who make the trucking industry great.

The tragedy of Celadon is impacting so many people across the industry, FreightWaves CEO Craig Fuller said. FreightWaves is a part of driving transparency and connectedness in the freight community, and we wanted to expand that to connecting great talent with prospective employers.

Creating a profile on the job board is free and is a great tool for those who are looking for a career in the freight industry.

To search for logistics jobs, post new opportunities or post a resume, visit FreightCareers.FreightWaves.com.

FreightWaves wants all those affected by the recent closure to find employment as soon as possible. These tips can help applicants stand out to employers and recruiters:

LinkedIn

Resume

Networking

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FreightWaves job board rapidly gains steam in wake of Celadon bankruptcy (with video) - FreightWaves