Chapter 7
When Should A Small Business File For Bankruptcy?
It is natural for small business owners to be distressed and unsure of what steps to take when their businesses begin to struggle. Many think of bankruptcy as a sign of failure, but in reality, bankruptcy is a tool that...
Consumer Debt Gets Tough to Manage Around the Holidays
The winter holidays are a joyous time, but not if you are struggling with debt. From Black Friday and Cyber Monday to last-minute sales just before Christmas, industry experts expect the average American to spend $920 per person on holiday gifts in 2019. It’s easy...
How Do Chapter 7 and 13 Bankruptcy Affect My Credit?
It’s a question we hear often: How long does a Chapter 7 bankruptcy stay on a credit report? A Chapter 7 bankruptcy will remain on your credit report for 10 years, but the real impact of a bankruptcy on your...
Benefit of Car Liens When Filing Bankruptcy
Filing Bankruptcy with a Car Lien In 2005, the United States Congress made significant changes to the nation’s bankruptcy laws. In the end, secured creditors – car finance companies, mortgage companies and seller-financed furniture dealers – fared best, but one...
Random Audits
It is not likely but always possible that your personal bankruptcy case will undergo an audit directed by the United States Bankruptcy Administrator which monitors and investigates bankruptcy cases to ensure compliance with applicable laws and procedures. If the Bankruptcy Administrator...
Cross-Collateralization Bankruptcy
Many people sign loan agreements without reading the fine print or understanding the consequences if the agreement contains a cross collateralization clause. Cross collateralization provisions in loan agreements can create unexpected complications for borrowers seeking to discharge debts by filing...
How Does Your Bankruptcy Affect the Filing of Your Tax Returns?
People who are over their heads in debt and considering bankruptcy have a number of decisions to make regarding bankruptcy and taxes. As bankruptcy attorneys, we often hear questions from clients about how bankruptcy will affect taxes and tax returns....
How Debt Limits Impact a Bankruptcy
Typically, the menu of bankruptcy chapters presented to individuals is short: you’ve got chapter 7 and you’ve got chapter 13. Because the various flavors in which those two chapters can come is endless, though, it’s relatively rare that someone’s forced...
Vehicle Repossession Scenarios
Receiving calls about vehicle repossessions is not new to our office. A bankruptcy can help with repossessions in two different scenarios. .. … So as between the 2 scenarios, the 2nd option is simpler and cheaper. View our Filing...
Another Attempt to Student Loan Dischargability
To discharge your student loans in bankruptcy, you pretty much have to be in a coma. That’s not the technical rule, of course, but it certainly feels that way sometimes. As a result, when attorneys who represent debtors talk about...
