As a business owner, it is important to know that there may come a time when you should consider filing for bankruptcy. Remember, that just because you need some financial help with your company does not mean that you are going out of business. For example, many companies have filed chapter 11 bankruptcy and still continued on to have a success business. After all, chapter 11 is simply a court followed reorganization of finances for companies.
18 May 2018
When you know that you are about to make a major financial move, you may be wondering what the differences are in the two main types of consumer bankruptcy. Most people are more familiar with chapter 7, but chapter 13 has several advantages over 7. To help spare the confusion, read on for a quick and easy guide to each type to help you make the decision. Chapter 7 There is no substitute for the way a chapter 7 bankruptcy literally wipes out the majority of most people's debt.
1 March 2018
The decision to file bankruptcy was difficult, but you likely had very little choice. Once your financial situation gets out of hand, it's like a domino effect of mounting penalties, interest and misery. Part of the big decision is about the after-effects of such a move. Will you ever be able to get credit again? The answer to this question is "yes", so read on to learn more about recovering from your chapter 7 bankruptcy.
16 January 2018
While the need to file for bankruptcy can be in itself demeaning, the very thought of having to stand in court and admit to your financial failures can be devastating. Fortunately, your bankruptcy appearance is probably not as bad as you may be imagining. Once you read the information below, you should be somewhat comforted about your upcoming appearance and ready for the new start that this chapter 7 filing will provide.
26 October 2017
Bankruptcy laws are clear in stating that any property acquired within a specific period, usually 180 days, after filing for bankruptcy must be included as personal assets. In the case of a personal injury settlement, you may need to surrender some of the money awarded to you even if you don't actually receive it until after the 180 period and the case is closed. How Can a Settlement That You Haven't Yet Received be Included in a Bankruptcy Case?
15 August 2017