Let me tell you why bankruptcy may not be the best option if you’re being sued for a debt. Now bankruptcy is an effective tool to get out of debt. But there are reasons that it should be used strategically and only as a last resort. For once you…
FAQ Category: Bankruptcy
If you’re struggling with any type of debt or you’re being sued for debt, let me tell you why you should only hire an attorney that has experience in many different areas of debt relief. As the old adage goes, if you’re a hammer, the whole world looks like…
Thinking about filing a bankruptcy. Let me tell you why choosing the wrong bankruptcy law firm can cost you 1000s or even hundreds of 1000s of dollars. Way too often people wind up with bankruptcy law firms though don’t take the time to properly review the entire debt situation…
Chapter 11 bankruptcy allows businesses, whether organized as corporations, partnerships, or sole proprietorships, as well as individuals in certain situations, to undertake reorganization of operations and finances. Businesses typically file for Chapter 11 bankruptcy when they are no longer able to service debts or pay creditors, but when the business…
Chapter 13 bankruptcy is the process by which an individual is allowed to undertake a “reorganization” of their finances. An individual can seek Chapter 13 bankruptcy when they have sufficient income to make payments to their creditors under a repayment plan. In a Chapter 13 proceeding, the debtor begins making…
Chapter 7 of the Bankruptcy Code governs the process of liquidation under the bankruptcy laws. Chapter 7 is the most common form of bankruptcy. In the liquidation process, most or all of a debtor’s assets are sold off to generate cash that is then used to pay the debtor’s creditors….
No. Under U.S.C. Section 525, an employer cannot discriminate against you due to you filing for bankruptcy.
A spouse is not affected by a bankruptcy if they did not sign an agreement for the debt. The answer to this question really depends on how the debt is held and who is responsible for it. It is not uncommon for only one spouse to file for bankruptcy. Prior…
While there is no exact amount of time, remember that credit card companies and other entities that issue credit make their money by extending credit, and thus are eager to put people back into the borrowing chain. We have had clients receive offers from credit card companies in as little…
