Keeping Your Employees During Chapter 11 Bankruptcy Handling your employees properly during Chapter 11 bankruptcy is essential if you want to retain the best and brightest workers for your business. Below are a few tips on how to retain employees during bankruptcy: Open the lines of communication and always be honest with your workers about [...]
Bankruptcy's 910 Day Rule Debt troubles don't really have a timeline where things start out bad and then get a better over time. To the contrary, debt troubles start out slow and then snowball into an avalanche of financial crises which usually end only once the debtor files bankruptcy. That's why bankruptcy's 910 day rule [...]
Why You Shouldn't Be Afraid to File Chapter 13 Bankruptcy Chapter 13 bankruptcy has become the dreaded type of bankruptcy that every debtor wants to avoid. It's unfortunate because Chapter 13 bankruptcy provides the type of flexibility and protection that many debtors who are fully employed need. Nevertheless, many debtors fear Chapter 13 bankruptcy and [...]
Bankruptcy Treatment of Judgments Many debtors wait until they are facing a creditor lawsuit, wage garnishment or bank levy before they file bankruptcy. If this is the case, the debtor usually has at least one judgment against them already. Can these judgments be discharged in bankruptcy? In some cases yes, but it will depend on [...]
If you're a business owner with an LLC or corporation and you decide to file bankruptcy, your interests in your business may be in jeopardy; but there are ways to protect yourself. Here's what you need to know: When an individual debtor files bankruptcy, the stock they own in a business becomes part of the [...]
The 14 largest U.S. mortgage servicers have reached an initial settlement with attorney generals saying, amongst other things, that they must pay back homeowners for losses from foreclosures or loans that were mishandled in the wake of the housing collapse. Officials from the Justice department, the Department of Housing and Urban Development and 10 state [...]
If you only have a year or two left on your vehicle loan, keeping it in bankruptcy may be a good choice. Even if the vehicle loan is upside down, you may come out ahead financially if you avoid buying another vehicle. Will The Lender Require You To Reaffirm The Debt? Debt reaffirmation during bankruptcy [...]
While more Americans take advantage of their right to file bankruptcy and get a fresh financial start, there are still some who do their best to discourage necessary bankruptcy filings. Many bankruptcy opponents have repeated their ill-informed opinions so often and so loudly that some debtors take it for truth. Or, even if they don't [...]
What Determines the Cost of Hiring a Bankruptcy Attorney? The cost of hiring a bankruptcy attorney scares many debtors. But this fear is mostly fueled by the unknown. Debtors considering bankruptcy don't understand the process and they certainly don't understand how the cost of their bankruptcy case is calculated. Let's take a look at how [...]
If a couple files a joint bankruptcy and one of them dies, the Bankruptcy Code states that the bankruptcy case does not automatically end. Instead, the bankruptcy case continues with assets being liquidated as allowed by law and debts being discharged according to the law. Here's what you need know: If a couple filed bankruptcy [...]