Most of the time our clients want to know: “Do I have to go to court?” The answer is yes but it’s not like what you see on TV. Section 341 of the Bankruptcy Code requires that all debtors meet with the trustee and answer questions pertaining to his or her bankruptcy case. When [...]
Most people believe that if you file bankruptcy your credit will be ruined. While it is true that filing a bankruptcy case will affect your credit, it does not mean that you cannot re-establish credit after your bankruptcy case is over. Most people who file bankruptcy have already taken a hit on their credit [...]
The means test is often the starting point for anyone who is filing for bankruptcy. It determines if you are eligible for Chapter 7 bankruptcy, and impacts your plan length in Chapter 13 bankruptcy. The means test is a complicated form, and mistakes are common. Read on to find out what some of the most [...]
For a small business in financial distress, bankruptcy may be the only viable option. There are two restructuring options under bankruptcy law for debtors who want to try to stay in business: Chapter 11 and Chapter 13. For a "straight" or "liquidation" bankruptcy: Chapter 7. General Overview To some extent, Chapters 11 and [...]
