Filing for bankruptcy is often a scary process for any type of person, especially for business owners that are filing a business bankruptcy. Many business owners wonder how filing a business bankruptcy will affect their personal credit history, and while there is no exact answer to this wondering thought there are a few principles that…
How Business Bankruptcy Affects the LLC Owner
The nuances of bankruptcy for corporations has changed drastically over the last five years. With the dramatic shift in the national and international markets, the U.S. government is more protective than ever over debts, taxation, and income. From a proprietorship to LLC’s, there are unique rules governing bankruptcy for all styles of companies. What Happens…
Small Business Bankruptcy Options
When the notion of bankruptcy first peers its ugly head through the door, your first action is to turn away and ignore it. The fact of the matter is that bankruptcies happen, even to some of the very best small business entrepreneurs. Given the society we live in today, it is a miracle when a…
Why Do You Need A Business Bankruptcy Lawyer?
Basic Overview In these difficult economic times, many businesses are filing for bankruptcy in order to consolidate resources and reduce or eliminate debt. Since declaring bankruptcy can be a difficult process, it makes sense to consult a business bankruptcy lawyer that specializes in debtor’s counsel. A bankruptcy lawyer helps the company to determine which type…
Keeping Your Property in a Chapter 7 Bankruptcy
Will I lose my property in a Chapter 7 Bankruptcy? In a chapter seven bankruptcy, there is a high probability that you will lose property. In this type of bankruptcy, assets that you own will be sold, or claimed by your creditors through liens, or similar claims. There is a list of items debtors may…
Before and After Bankruptcy: Discharge
If you are filing for a bankruptcy, you have most likely come across the word ‘discharge.’ This word is used to explain how debts are ‘discharged’ or removed from your record, leaving you with a clean credit report. In many cases, your liability regarding the debts on your discharge is pretty much removed. The nuts…
Avoiding Common Bankruptcy Pitfalls
Bankruptcy is never an option or one that anybody turns to readily. Unfortunately, the prospect of turning towards bankruptcy for help is more common today than ever. For some, though, this option is scary. The desperate measures some people employ to delay filing often times make their situation worse. While the feelings of anxiety maybe…
Chapter 11 vs. Chapter 13 Bankruptcy
Differences Between Chapter 11 and Chapter 13 Bankruptcy Chapter 13 and Chapter 11 bankruptcy have certain key similarities that can cause confusion for anyone who doesn’t specialize in bankruptcy. Who Can File for Chapter 11 and Chapter 13 Bankruptcy? Chapter 11 bankruptcy is available for businesses and individuals with a very large amount of debts and income. Filings are available…
Bankruptcy & Repossession
Stop a Repossession with Bankruptcy If you are falling behind on payments for a car, truck, boat, motorcycle or other high-value piece of property, you may be facing repossession. Your creditors can repossess your property at any time, and once they do, you may have no way of getting it back. You should act quickly to avoid repossession. Put an…
Bankruptcy and Foreclosure
Bankruptcy Can Stop Foreclosure In some cases, bankruptcy can be used to help prevent foreclosure. Other times, it cannot. If you are thinking about bankruptcy and fear that your home may be in danger of foreclosure, call our legal team now for assistance. What if You Receive a Foreclosure Notice? If you have received a foreclosure Summons Complaint alerting…