Best Restructuring & Insolvency Lawyers in Bataan
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List of the best lawyers in Bataan, Philippines
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Philippines Restructuring & Insolvency Legal Questions answered by Lawyers
Browse our 3 legal questions about Restructuring & Insolvency in Philippines and read the lawyer answers, or ask your own questions for free.
- Can a small family business in the Philippines apply for court-supervised rehabilitation to stop creditors from seizing our delivery trucks?
- Our family-run logistics company in Cebu has fallen behind on bank loans due to recent economic downturns, and one creditor is threatening to repossess our main delivery vehicles next week. We want to know if filing for corporate rehabilitation under the FRIA will immediately freeze these foreclosure attempts. We need... Read more →
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Lawyer answer by Casiding and Associates Law Office
Yes once commencement order is issued by the commercial court, impending forclosure cannot proceed or is usually stayed as provided under Sections 16 and 17 of FRIA law.
Read full answer - Can I file for personal insolvency to stop bank collection and negotiate lower payments?
- I’m in Manila and have multiple loans and credit cards past due, and collectors are threatening to sue. I still have a job but my monthly income can’t cover all payments. What legal process can I use to restructure my debts and prevent harassment or garnishment?
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Lawyer answer by Recososa Law Firm
Hello:\n\nPresuming this is in the Philippines, the main formal court remedy for a person in your situation is usually a petition for suspension of payments under the Financial Rehabilitation and Insolvency Act, Republic Act No. 10142. This is available to...
Read full answer - Can I file for personal insolvency if I’m behind on bank loans and credit cards in the Philippines?
- I lost my job and I’m now in arrears on multiple bank loans and credit cards. Collectors are threatening to sue and garnish my salary once I’m employed again. What legal options do I have to restructure or settle my debts, and what documents will I need?
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Lawyer answer by Recososa Law Firm
Hello: Presuming this concern is within Philippine jurisdiction, let me give you a clear and practical answer. First, let us understand what is happening legally. When a registered landowner dies, the heirs must settle the estate and pay estate tax...
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