This is the most important question most business owners want to know. The answer depends upon 2 issues. First is how the business is organized. The second is what type of bankruptcy is filed. In a Chapter 7 straight Bankruptcy, If you have a corporation, a limited liability company or a partnership filing, the company […]
Category: asset protection
Why representing yourself in bankruptcy can cost you everything!
Representing Yourself in Bankruptcy Outcomes of Representing Yourself in Bankruptcy
When Do You Know It’s Time to File Bankruptcy?
When Do You Know It’s Time to File Bankruptcy? “When does one know it is time to file bankruptcy instead of trying to maintain their lifestyle? And… what if they own a home and cannot lose it because there is nowhere free (i.e. family to stay with to regroup and get back on their […]
Debts, Bankruptcy, and Divorce
Can I use bankruptcy to divorce myself from the debts I was ordered to pay in my divorce? It was a great marriage. Well it was, until it all fell apart. In the divorce your spouse got the gold mine and you got the shaft. Of course, you now have to pay support as well. […]
MILITARY VETERAN’S BONUS REPAYMENT IN BANKRUPTCY
Military Veteran’s Bonus Repayment Demands are Dischargeable in Bankruptcy You served your country. You agreed to re-enlist based on the offer of a bonus. You gave up time with family and risked your life based on the payment of a reenlistment bonus from your government. All of you lost precious time. That time can […]
The Interplay Between Divorce And Bankruptcy
Divorce and Bankruptcy It is often said that most divorces are caused by financial struggles. When a family is facing significant financial problems, the stress levels can be high and cause serious conflict. This type of conflict is difficult to recover from, especially if one of the spouses feels they are doing more to contribute […]
How Much Will I Have To Pay To Keep My Car In Bankruptcy?
How Much Will I Have To Pay To Keep My Car In Bankruptcy? Most people can’t go without their car for very long, if at all. Unless you have other reliable modes of transportation, or are able to take public transport, your car is how you take your kids to school and get to work. […]
Can I Go To Jail For Not Paying My Debts?
Can I Go To Jail For Not Paying My Debts? In Hollywood there may be such a thing as “debtor’s prison”, but that is really more for theatrical effect than to portray how debt collection works in the real world. If you are not able to pay your bills, you may be worried about what […]
Chapter 13 Bankruptcy Plan
What Is A Bankruptcy Chapter 13 Plan? There are two main types of consumer bankruptcy and while both will yield results that put you on better financial footing, that is where the similarities between the two types of cases ends. In a Chapter 7 case you are able to wipe out all of your unsecured […]
What Are Bankruptcy Exemptions?
Bankruptcy Exemptions, What Are They? If you are thinking about filing for bankruptcy, you are probably wondering what you can do to safeguard your assets. A good number of bankruptcy cases are filed in an attempt to save a valuable asset, like the family home. When you no longer have to make payments on high […]
