Global Finance

Just about Financial Information

You are here: Home - USA

Tag Archives: USA

How To Find A Dependable Business Bankruptcy Attorney In Bettendorf, IA

Any legitimate business undergoes their individual financial crunches. With the changes in the economy, every commercial institution faces its own problems with finances. When the situation is irresolvable over a period of time with creditors continuously asking for payments, Bankruptcy is imminent.

Bankruptcy can never be the final straw; there are always ways to resolve the situation no matter how severe. The Constitution of USA has various Chapters dedicated to help people in a fiscal trench. It is a matter of finding the right provision and filing a well-drafted petition to the court to declare one’s inability to pay the pending dues. .

Petitions can be of two types when looking at the range of bankruptcy – ‘voluntary’ and ‘involuntary’. The majority of the cases of bankruptcy declarations filed in the US are voluntary and the easiest to resolve. The debtor realizes his fiscal position and applies in the court of law with transparent financial statements to seek the best solution possible to clear pending debts.

Creditors file an involuntary bankruptcy petition where things can take a drastic turn for their debtors. If a debtor is unresponsive and unable to manage their financial affairs, they may lose their property and assets. This form of bankruptcy cases run for long and are rather complex to resolve. However, creditors do recover a fair share of their money after liquidation. The Chapters most regularly dealing with bankruptcy in the US are Chapters 7 and 13. Though there are four other Chapters dedicated to bankruptcy, the others are for special categories and situations.

Chapter 7 cases are about direct liquidation. These are quickly resolved. A trustee is appointed to resolve the debtor’s assets and distribute the money to the creditors directly. Chapter 13 cases are a long term reorganization of the debtor’s finances and involve a settlement of regular payment to the creditors.

However, it is also important to note that not all practitioners of law are honest or transparent. A bad attorney in a state of bankruptcy is indeed a worst case scenario. Looking into the reputation of the lawyers you consult is vital and sensitive as many things could go wrong in such a state of need.

This is why one has to be extra careful when in need of a good business bankruptcy attorney. Bettendorf, IA inhabitants can get in touch with Buckrop & VanDeVelde Debtors’ Attorney., Mr. Buckrop and Mr. VanDeVelde can ensure you a safe solution to your financial troubles are they have years of experience and are up to date with new developments.

Filing bankruptcy requires a lot of decisions and a lot of forms to be completed, especially with the new bankruptcy laws. I suggest you to visit, for the best business bankruptcy attorney Bettendorf, IA.

Tags: ,

Guatemala and Enforcement of Foreign Judgements

Executive Summary What we are going to discuss here is whether or not a creditor can come to Guatemala with a judgment from a foreign (Non Guatemala) court and enforce it or make it collectible in Guatemala. We will look at the complications involved and the chances of success which are miniscule at best. I would like to point out that this is a topic not covered by our competition. There are collection law firms that discuss international judgement collection but they are trying to sell their services. In spite of this I have never seen one collection law firm getting enthusiastic about collecting foreign judgements. It is best done through a treaty which Guatemala does not have with any country. We will discuss the matter in depth below.
What is a Judgement A judgement is a decision from a court based on a trial or it could be based on a summary judgment where there was not trial held because the odds of success for the defendant were so small the court just goes ahead and railroads him. Sometimes this happens because the defendant can not afford a legal defense. This is prevalent in the USA. In this discourse we are addressing judgments for money damages. A judgement can have other aspects to it like an eviction proceeding ordering one to leave a house. It does not matter if it is a local court or a national court for this discourse. This is because Guatemala has no treaties for enforcement of foreign judgments but more on this later. The court would need to be contained in a country that Guatemala has diplomatic relations with. Guatemala also insists that the country of the judgement allows Guatemala judgements to be enforced in that country.
What is Not a Judgement A tax lien is not a judgment. Tax liens can come from local or national governments. There is normally no trial preceding a tax lien. There was no judge, no jury, no due process, no right to defend yourself, no attorney present for the defendant, no right to examine your accuser, no chance of jury nullification, etc. This is a government administrative procedure that is not enforceable offshore in other countries. A tax lien would need to be reduced to a judgement by filing a lawsuit in a court of appropriate jurisdiction in the home country. It would be like any other lawsuit. The defendant would have the right to present a defense and have a jury trail. Such a judgement would also then be dischargeable in an ordinary bankruptcy case. Tax liens are practically never converted into a judgement for these reasons and of course the expense involved, time delay to go to trail and so forth.
Guatemala Has No Treaty for the Enforcement of Foreign Judgements It is good that Guatemala has no such treaty. If a treaty like this was present the process of collecting a foreign judgment would be simplified. The judgment itself would be sufficient evidence to proceed with collection. With Guatemala, foreign judgements are anything but a cost effective easy thing to collect on.
Guatemala Corporations and Foreign Judgements Before we get into the ins and outs of the nightmares associated with collecting foreign judgments in Guatemala lets look at the initial problem a judgment creditor would face. We always have our clients use corporations for asset protection. This applies to banking, real estate, cars etc. We prefer to start with fresh corporations formed in the jurisdiction as long as they are anonymous bearer share corporations. Guatemala has very anonymous bearer share corporations. The names of the owners of the corporation do not appear in any public registry, database and the government does not know who owns the corporation. In places like the USA where the legal system has run amuck you will hear a lot of talk concerning piercing the corporate veil. This piercing the corporate veil tactic is nasty and effective in the USA. Try it in Guatemala and you will fail and have one angry judge to deal with who will be less than appreciative of your attempts to import sleazy legal tactics from the USA into his or her courtroom. The corporate veil is not going to be pierced for foreign cvil judgement collection matters. So how does the creditor attack real estate or a bank account owned by a corporation in Guatemala? He doesn’t! You are the owner of the corporation but he does not know that and cannot prove that. Ownership of Guatemala corporations is not in any public registry or database. Going to court and saying well the judgment debtor wired funds from his home country bank account to a bank account owned by this corporation, is not going to prove a single thing in Guatemala regarding corporate ownership. The judgment debtor may have invested in this corporation, he may have bought real estate from this corporation or bought a boat, a plane a car, etc. It does not prove any ownership. The judgement creditor is not going to be able to get into any Guatemala banking records using a foreign judgment as grounds. Guatemala has serious bank secrecy. You must understand that in Guatemala a corporation is a free standing judicial person (artificial person) that has its own assets and liabilities. Your liabilities are not the liabilities of the corporation. This means personal debts do not transfer over to a corporation.
Fraudulent Conveyance The catchall used to attack offshore bank accounts is fraudulent conveyance. A fraudulent conveyance references activity where funds or assets were removed from a jurisdiction to prevent a creditor from recovering the debt. The term can also apply to transferring title of real estate or a car to another to keep it from being attached by a creditor. Panama allows a creditor to pursue a fraudulent conveyance action based on a foreign judgment and this even applies to their foundations. As a comparison Guatemala is not a fraudulent conveyance friendly jurisdiction. Such cases are seldom ever heard of in Guatemala because the chances of success are extremely slight. The plaintiff would need to show that the transfer was specifically designed or intended to remove the assets from the reach of the creditor. If the defendant could show this was not the case then there is no fraudulent conveyance. The money could have been moved to say a Guatemala corporation to pay for services, goods, make an investment, buy a residence, invest in real estate, buy a boat, and so forth. Please bear in mind that in Guatemala the creditor is in the dark. He cannot just subpoena bank records like in other countries. He has no idea who owns the corporation. There are a lot of just about insurmountable obstacles in the path the creditor has to follow. This is why we do not really see these cases in Guatemala.
Foreign Judgement Enforcement Complications in Guatemala There are a lot of conditions that need to be met to enforce a judgment in Guatemala from another country.
Default judgments are not enforceable in Guatemala. The defendant must have been served personally. This means a live process server gave them the legal papers. If the service was by mail, by courier, by publication it invalidates the entire lawsuit and judgement as far as Guatemala is concerned. Dropping the papers on the doorstep or taping them to the door is not going to work. This right off the top eliminates a large amount of judgements.
The judgment must be final in that there is no more room for appeals. This is usually going to mean a few months in most cases.
The court that issued the judgment has to have had proper jurisdiction over the matter. Frivolous cases filed in foreign jurisdictions with incorrect venue or authority are not going to be enforceable. The debtor can always argue that the jurisdiction or authority the court asserted is incorrect. This can then make it a triable issue of fact in the Guatemala courts. The defendant would try to get the plaintiff to retry the entire case in Guatemala if he could not find another way to dispose of the matter. To do this means two sets of lawyers for the plaintiff, one in Guatemala and one from the foreign country. Think big money. Remember that Guatemala has no treaties for the enforcement of foreign judgments. This opens up the playing field to counter attack the plaintiff attempting to collect the judgement. When there is a treaty the judgment itself stands as admissible evidence and the grounds for objecting are most limited.
There is no enforcement if no such claim would be possible under Guatemala law. Guatemala will refuse to enforce the foreign money judgment if the claim on which the foreign judgment is based could not have been brought in Guatemala. The foreign case has to be consistent with Guatemala law. Guatemala law is not as crazy as USA, UK law. If you were sued for sending out faxes that were unsolicited, this judgment would be void in Guatemala since they have no such law in Guatemala. Many USA lawsuits are for civil violations that are absent from Guatemala law and thus not enforceable in Guatemala. This means the foreign attorney will have to retain foreign counsel to review the case and see it is consistent with Guatemala law. Can be expensive. He may have to have the entire matter translated into Spanish by a certified translator at a cost of $10 to $15 a page. Some cases are hundreds of pages. Then the Guatemala lawyer has to read the case which means billable hours. He will ask questions to the foreign attorney so now we get into double billable hours. In any event to enter the judgment into the Guatemala court system in an effort to collect there would need to be a translation of the judgment into Spanish. Then when the debtor started making objections the entire case file would most likely need to be translated into Spanish.
If the judgment was for contempt of court it makes the judgment not valid in Guatemala. This sort of judgment would not be collectible in Guatemala.
The judgment has to not be for default. In other words if you failed to respond to a foreign court action and were in domicile in Guatemala and they got a summary judgment that would not be a valid judgment.
More Foreign Judgment Collection Obstacles in Guatemala The creditor wishing to collect on a foreign judgment in Guatemala is basically on a financial mission, to collect funds. His path is like walking through a minefield. He can hit a number of unexpected or hidden tactics presented by the debtor that will make a financial recovery very unlikely.
First, we have to look at the appeals process open to the defendant. These are the things a creditor will be advised to consider before proceeding with an expensive and time consuming foreign judgment matter in Guatemala. Please bear in mind the defendant (debtor) can appeal any negative decision from a lower court two ways. The defendant can appeal to the Supreme Court claiming the law was not followed correctly applying any of the above noted objections, or all of them. He can also claim procedures were not followed correctly. He can claim the case is not consistent with Guatemala law. He can attack the way he was served. There are many things he can do. He can even file a counter claim against the creditor. The other appeals option is to appeal to the special Constitutional Courts Guatemala has to just decide constitutional issues. How hard would it be to argue that the defendant had some constitutional rights violated in the process somewhere.
If all that fails after years of waiting for the process to work its way through the courts, then there is the bankruptcy option. Guatemala has a complex bankruptcy court system that could be utilized for shelter from creditors. Using these appellate processes is going to run up the bill for the plaintiff substantially. Without the appeals system, the time required for cases can run up to the 3-5 year mark easily. Then add in appeals. and the bankruptcy for even more years. The plaintiff could conceivably go broke or die of old age before the appeals process runs out. They might recover nothing especially if a bankruptcy is used. The plaintiff might never prevail. The expenses involved could be more than the amount of the judgment. By the time all the appeals are used, the time limit for the judgment may have expired (7-10 years usually) and then the case could be dismissed because the judgment is not longer valid, thus not enforceable. And on and on it goes. Such collection efforts are indeed rarely ever seen in Guatemala.
Summary If you have read this you are looking for a secure offshore asset protection jurisdiction and structure. We have several excellent options. Please bear in mind the perfect jurisdiction and structure does not exist. There is always going to be a give and take scenario. We have managed to isolate a few excellent options but there is no perfect solution that meets the needs of everyone. We do try though!

MN bankruptcy attorney Live life without stress

Bankruptcy is a legal declaration of inability of a person or a firm to repay its outstanding debts. This can be filed by the debtor or on behalf of the creditor to recoup the outstanding debt. The assets of a debtor are measured and appraised, and it is used to repay the amount. On the completion of bankruptcy procedure, the debtor is free from the obligation of any debt earned before filing for bankruptcy. In Minnesota there have been many problems faced by the people due to recession. This global economic crisis has affected many people, large number of citizens and organizations are filing for Minnesota bankruptcy to escape from the poor financial condition. Filing for bankruptcy has always been a last option, but to file a bankruptcy is not an easy task. The first thing is to hire a professional MN bankruptcy lawyer as they can give the best advice.

Bankruptcy filing in Minnesota, USA can come under many chapters of bankruptcy code like Minnesota Chapter 7 Bankruptcy, which includes liquidation of assets, chapter 11 for organizations of person reformation and chapter 13 for debt repayment with less debt covenants. This specification differs among different countries and lower filing rates that depend on how easily one can complete the procedure.

Minnesota bankruptcy lawyer will guide you to take a proper decision. They will help to decide whether you must choose this option of bankruptcy or not. The lawyer will observe the situation that you are facing and will try to find out any possible alternative to bankruptcy. They understand the problem of their client who is under a lot of stress. With the unemployment rate of 8% in Minnesota and many homes getting shut, they know what problem a debt can create.

Searching a Minnesota bankruptcy attorney is not so difficult by any mode, but finding an experienced and skilled lawyer will take lot of effort. If you face such trouble, you need to make a list of important details that you can collect from referrals and through other trustworthy sources. Always ask for a suggestion, from the people who have gone through bankruptcy, regarding finding an experienced MN bankruptcy attorney. These lawyers offer personal attention and service to every client, they give more importance on both Minnesota Chapter 7 Bankruptcy and chapter 13. They also protect their client from the action taken by debt collectors like making harassing phone calls, calls at your workplace or to your a co-worker, calls to family members or neighbors about debt, false legal notice and false threats.

You also have the best option of searching for MN bankruptcy lawyer through the internet. Many lawyers have launched their website to let everyone know about their skill and number of successful cases. It becomes very easy to decide which lawyer to hire after going through the qualification and the experience of the lawyer. You can also read the client’s feedback on the service of these lawyers.

Day Loan – Short Term Direct Loan

There are many short term personal needs which include electricity bill, medical bill, house bill or any other expenses. These short term personal needs you can fulfill by availing this loan service for 2 months. As it is a short term loan so you have to repay this loan in 2 months.60 day loan help you in sudden financial crises so that you can handle your small financial crises without looking anyone for need. 60 day loan is one of the best opportunities that are available to the borrower in the market. For these loan schemes, you have to browse the application form online and then also submit this form online. In this application form you have to mention your personal circumstances so that you should have been contacted in any emergency. For the approval of your application you have to fill all details genuinely. You have to fulfill some requirements given below. For applying these loan schemes you must have USA citizenship. You have to also give your valid checking account proof. Your age must be 18 year old while applying these loans. Along this, you should also submit your profession records. These profession records tell how much you are able to repay your loan amount.

These loans can arrange you a very quick short term loans, it may be 2 months loans, 30 day payday loans, 30 day loan in an easy way. The repayment term of loan varies from 30 days or till 60 days, but the repayment time can be increased or decreased according to the behavior and condition of the applicant. So, you can easily able to fulfill your money requirements.

David Hassia helps the borrowers to manage the loans for long time. He knows that good quality advices are liked by most of the borrowers. To know more about 30 day payday loans , 60 days payday loans visit