When an individual files for bankruptcy, the typical result is that the individual’s debts to all of its creditors—including its bank creditors—are discharged. As a practical matter, this means that those obligations are essentially uncollectable as personal obligations of the bankrupt debtor. (The creditors ...Read More

I. THE DISCHARGE

A. The notion of a “fresh start” is one of the three fundamental philosophical tenets
of the Bankruptcy Code. 1

B. The concept of the “fresh start” is premised on the notion that in most instances a
debtor ought to have a second chance with ...Read More

Why 7A’s may get sold or transferred. Under what circumstances does this happen?

Importance of:

Authorization
10 Tabs

Importance of avoiding glitches with SBA, such as “Paid in Full”

Handling transfers properly covers the gamut of 7A lending, from cradle to grave, because to do it right ...Read More