Archive for the ‘Bankruptcy and Debt Restructuring’ Category

By Attorney Brent C. Diefenderfer Seeking help from a bankruptcy attorney early in your financial struggles can significantly impact the outcome of your bankruptcy case. An early consultation allows for a more strategic approach to your bankruptcy filing by providing ample time to plan and prepare. Here are a few examples highlighting the benefits of early assistance: 1. Preserving Assets and Maximizing Exemptions: When you consult a bankruptcy attorney in advance, they can guide you on protecting your assets within the confines of bankruptcy laws. By strategically planning asset transfers and utilizing exemptions, you can safeguard your property while obtaining… read more »

Attorney Larry Young, Shareholder, and Chair of CGA Law Firm’s Bankruptcy Practice Group, has been honored by Best Lawyers® with the 2024 “Lawyer of the Year” award for his work in Bankruptcy and Creditor Debtor Rights/Insolvency and Reorganization Law in the Harrisburg area. Larry will be featured in the 30th edition of The Best Lawyers in America® for this prestigious achievement. As one of the country’s oldest and most respected peer-review attorney guides, The Best Lawyers in America® complies its list by conducting peer-review interviews. Lawyers must earn inclusion each year. Only a single lawyer in each practice area and community is honored with the annual… read more »

Much about bankruptcy law is counterintuitive and often misinterpreted. For example, the benefits of a bankruptcy filing, such as the improvement of credit scores, protection of assets, tax-free debt forgiveness, and the broad ability to qualify for Bankruptcy are often surprising to our clients. When a property is purchased through a Bankruptcy proceeding, it comes with a Federal Court Order declaring the property is free and clear of any liens, encumbrances, or other interests. It provides an added layer of title protection. The order ensures that no potential debts or interests existing before settlement could ever be enforced against the… read more »

*DISCLAIMER: This article is intended to share factual information and is not intended to reflect the author’s or CGA Law Firm’s stance or opinion on Student Loan Relief. This information is not intended to be a substitute for professional legal advice and does not create an attorney-client relationship. You should only accept legal advice from a licensed attorney with whom you have an attorney-client relationship.             On Wednesday, August 24, 2022, President Biden announced another step in his student loan forgiveness plan wherein qualified borrowers will see $10,000 to $20,000 in student loan debt cancellation. Whether… read more »

The jury issued its verdict yesterday in the Virginia defamation lawsuit between Johnny Depp and his ex-wife Amber Heard. After three weeks of trial, the jury concluded that Ms. Heard’s statements were defamatory. Yesterday’s verdict has left many people asking whether damages awarded in a defamation case are dischargeable in bankruptcy.  Ordinarily, when a person files bankruptcy and receives a discharge, this means that the bankrupt party’s debts are eliminated and do not need to be repaid. Dischargeability depends upon what else the jury concludes. The Bankruptcy Code says that debts based on liability “for willful and malicious injury by… read more »

There is something new and exciting in the world of Bankruptcy which gives small businesses in financial distress a chance to reorganize and continue operating, rather than shutting the doors. In 2019, the Small Business Reorganization Act (SBRA) was passed and went into effect in early 2020, with impeccable timing – just prior to the pandemic. Under the SBRA, Congress created a more affordable, less burdensome option under Chapter 11 of the Bankruptcy Code for small businesses called the Subchapter V Bankruptcy. Under a Subchapter V Bankruptcy, the small business Debtor, after presenting financial documents to the Court, can pay… read more »

CGA Law Firm is proud to have award-winning lawyers and practice groups. Best Lawyers®, “The First and Foremost Resource for the Best Legal Talent Worldwide”, releases annual rankings on practicing attorneys around the world. CGA Law Firm, based in York, PA, is eligible for ranking under the Harrisburg Metropolitan Area and York, PA. All Tier Report “Best Law Firms” (2022 Edition), Metropolitan Tier 1 Harrisburg, for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law Current Recognized Lawyers The Best Lawyers in America (2022 Edition), Attorney Larry Young (2018), for Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization… read more »

CGA Law Firm is excited to announce that Attorney Larry Wolf has joined the legal team as an Of Counsel attorney. Larry has been practicing law in Hanover since he passed the Bar in 1975. His diverse practice included family law, business law, estate planning and administration, bankruptcy and debt restructuring, and real estate law. In recent years, he has focused his practice primarily on bankruptcy and debt restructuring, while maintaining his business and estate planning clients. In his bankruptcy practice, Larry has represented thousands of individuals and businesses experiencing a financial crisis. He credits his success in this area… read more »

*Applications are now closed* CGA Law Firm is seeking an experienced bankruptcy paralegal who will be relied upon to assist attorneys in preparing bankruptcy petitions, schedules, and pleadings, and be able to manage a large caseload of consumer debtor matters. The candidate is expected to meet with clients, prepare correspondence and submissions to clients and the Court. Prefer 3+ years of experience in Chapter 7 & 13 debtor bankruptcy proceedings. Exp with Best Case a plus. Candidates must be comfortable in a fast-paced law firm and be able to work in a team environment. Submissions from interested parties will be… read more »

Many people believe that personal bankruptcy, whether Chapter 7 or Chapter 13, will cause them to lose significant assets. While in some cases people may want to surrender assets, it is a rare case where people are forced to give up assets that they otherwise wish to retain. Retaining Your Residence and Non-Residential AssetsUnder Federal exemptions, each debtor can retain a residence with up to $25,150.00 in equity. For a married couple, all of these exemptions are doubled, such that a married couple can keep up to $50,300.00 worth of equity in their residence. “Equity” is the difference between the fair… read more »