Small business has bankruptcy options
Bankruptcy has consequences but may be the best avenue for struggling businesses. Along with Chapter 11 bankruptcy, there are other bankruptcy options for small businesses.
Should you max out your credit cards before a Chapter 7 bankruptcy?
You’ve noticed that you’re falling behind on your bills. Though you can keep up with them at the moment, you’re getting to a point where you just don’t have enough money coming in to pay everything you owe each month.…
A reaffirmation agreement might help you keep assets
There’s really no need for you to struggle for years or even decades in an attempt to escape what ultimately amounts to inescapable debt. Doing so only leaves you with depleted resources and overwhelming stress. Yet, if you’re like most…
What is a bankruptcy means test?
Let’s be honest. Consumer bankruptcy is not a fun route to travel, but it can be necessary to settle your debts and start financially anew. In fact, filing for bankruptcy and settling debt can lift a great weight off of…
Long-term and short-term financial goals after bankruptcy
In decades past, filing for bankruptcy was equated with some level of financial failure. In truth, even a small emergency can send finances into a tailspin. Scenarios from job loss to divorce to medical emergencies can upset a family’s financial…
Will Wave of Business Bankruptcies Spur Personal Filings?
Anyone who has been paying attention over the past six months understands that the American economy is in trouble. Americans barely had time to rebuild from the Great Recession that started in 2008, and now we seem to be headed…
When is bankruptcy the right choice?
Among the most unfortunate things about bankruptcy is the public’s opinion. Often seen as a financial failure, people often overlook its benefits. The laws guiding the process give Americans a second chance after an unfortunate financial event. However, it is…
IRS Restores Deductibility of Trust & Estate Losses
A new IRS proposed regulation brings welcome news to beneficiaries of estates and non-grantor trusts. Beneficiaries will now be able to deduct expenses in excess of income in the final year of the trust or estate. The deductibility of these…
Will I lose my house if I file for bankruptcy?
Bankruptcy is overwhelming. The decision to file can be a difficult one to come to terms with and it often leaves you with so many unknowns. How does this work? What does this mean for my life? Will I lose…
How does the automatic stay work with bankruptcy?
When bills mount and nonstop calls from creditors overwhelm you, you may not know how to reduce your financial stress. Many times, seeking debt relief seems inevitable. However, some indebted consumers do not understand how filing for bankruptcy can provide…
