Articles Posted in Chapter 11

Bankruptcy is a federal law that allows people and businesses (even cities and municipalities) to manage or eliminate debt. Bankruptcy is available to most everyone, and you do not even need to be insolvent to file. Bankruptcy is important because it imposes an immediate “automatic stay” on all creditors, and these creditors must stop all…

By Alfred Villoch, III, with Savage, Combs & Villoch, PLLC Contrary to pop culture belief, bankruptcy existed long before the game show Wheel of Fortune. Remember when contestants would lose their prize money if they spun the wheel and randomly landed on the ominous black wedge, “BANKRUPTCY”? Bankruptcy also existed way before celebrities like M.C.…

By Alfred Villoch, III, Esquire, with Savage, Combs & Villoch, PLLC Consumer bankruptcy filings are down 12 percent so far in 2014, according to Epiq Systems, Inc., and as reported by the American Bankruptcy Institute. See “Bankruptcy Filings Through First Three Quarters of 2014 Fall 12 Percent from 2013, Commercial Filings Fall 22 Percent.” The…

By Alfred Villoch, III, with Savage, Combs and Villoch, PLLC This meeting is named after section 341 of the bankruptcy code. It’s usually held about one or two months after you file for bankruptcy. You are required to attend this meeting in order to successfully complete bankruptcy and discharge your debts. Your attorney will attend…

By Alfred Villoch, III, at Savage, Combs & Villoch, PLLC Arigato Japanese Steakhouse, LLC, a restaurant with three locations in the Tampa Bay area, including a popular location in the Carrollwood area, has permanently closed its doors, according to Eric Snider with the Tampa Bay Business Journal. The restaurant was founded in 1971 and has…