Bankruptcy Options for Small Businesses If you are a small business owner struggling to pay debt obligations you may be considering bankruptcy as an option.  There are different bankruptcy filings to consider that are based on how your business is organized.  It helps to get a better understanding of each bankruptcy option before making the [...]

The film industry's annual ticket sales have declined almost every year since 2002 but gross annual revenue has doubled. If fewer people are going to the movies, how is the industry avoiding bankruptcy?

Bankruptcy is known for helping people gain a fresh start.  A new year's resolution many consumers make includes getting out of debt.  Even if you don't believe in making resolutions you may see getting out of debt as one your financial goals you want to achieve in the new year.  Many review their options for [...]

Discharging Debt in Bankruptcy Whether you file Chapter 7 or Chapter 13 bankruptcy , the general goal is to regain control of your finances and get out of debt.  Chapter 7 bankruptcy is known for discharging or eliminating debt while Chapter 13 helps reorganize debt with a payment schedule.  Certain debts in Chapter 13 may [...]

When you file bankruptcy you are required to report monthly income, usually for the last 6 months leading up to the filing. This is used to help debtors complete the Means Test which determines eligibility for Chapter 7 bankruptcy while reviewing expenses, debt and household size. In some cases, monthly income may allow a debtor [...]

Bankruptcy and Retirement Over the past few years more consumers over the age of 65 continue to struggle with outstanding debt. Studies have shown that more seniors are turning to bankruptcy to help deal with their debt troubles. In 2007, close to 7% of debtors who filed for bankruptcy were senior citizens over the age [...]

Credit card use may be a concern for debtors experiencing job loss or those finding it a challenge to make ends meet. While juggling daily expenses many have a hard time meeting debt obligations. Bankruptcy may be the next step for those who are considering the option. Many consumers understand they should stop using their [...]

Can Home Owner's Due's be Discharged in Bankruptcy? When it comes to Home Owner Association (HOA) dues in a bankruptcy case they can often present challenges even for legal experts to tackle.  The topic isn't discussed often which has led many to be misinformed. Chapter 7 bankruptcy allows a variety of debts to be eliminated, [...]

Jackpot amounts in recent months have caught the attention of millions hoping to get a piece of the prize if they don't win it entirely.  With jackpot amounts reaching historical heights many dream about what they would do with such a windfall.  Lottery wins have been known to change lives dramatically.  With that being said, [...]

One of the most common reasons why bankruptcy is filed includes obtaining protection for personal assets from creditors.  When you file bankruptcy assets such as bank accounts will likely be protected.  Some debtors worry if their account will close once the petition is filed.  Mostly likely your account will remain open and you won't lose [...]