What is Business Bankruptcy? Business bankruptcy is a topic frequently misunderstood. Sometimes, a corporate bankruptcy filing is what is meant. In other words, the corporation itself files bankruptcy, not the individuals that own the corporation. Corporations may generally file a Chapter 7 bankruptcy (to completely go out of business) or a Chapter 11 bankruptcy (to…
Sometimes bankruptcy is a good decision. Sometimes it is not going to help you at all. Most of the time when a person thinks of bankruptcy they think of a Chapter 7 bankruptcy. This is, in a nutshell, when a trustee will essentially take a person’s assets (if any) and use the proceeds (if any) to pay off the…
Beware consumers! While the economy is in very tough shape and the need to financially protect yourself has never been greater, the truth remains that “Zero Down” Chapter 7 cases are unethical and illegal. While the vast majority of bankruptcy attorneys are ethical and follow the law, there are always exceptions and I just recently…
Now that the holidays are over there isn’t much to look forward to between now and the summer months. Sure, there’s Valentine’s Day (welcome back, House of Cards), St. Patrick’s Day (green beer!), and don’t forget to mark your calendars for March 1st, National Pig Day. But don’t overlook the importance of TAX DAY! Yes,…