bankruptcy blog

The Title 11 chapter in the United States Bankruptcy Code, the Chapter 11 bankruptcy typically involves the reorganization of businesses that are burdened under massive debts. While extremely rare, chapter 11 is usually filed by corporations that require sufficient time to restructure and get rid of their debts. In other words, it allows the debtor  … Read more

Bankruptcy does not have the same stigma that it did around 20 years ago when filing meant a loss of goodwill and it carried a lot of shame with it. In this day and age, it is something that people do with no qualms. Many hard working people have seen multiple bankruptcies in his time. As  … Read more

If you are already facing a bankruptcy, it might be the right time to get your affairs in order and reorganize your financial planning. The fact is that a bankruptcy should not be taken lightly. It is indeed a warning bell to arouse you from your slumber and make you realize that something is terribly  … Read more

Debts can be a burden on you, especially when you default and your credit score goes all awry. In many cases, it is actually better for you if you simply file for bankruptcy and deal with your debts that way. However, if you wish to not file for bankruptcy, which again does little to help  … Read more

All business enterprises need to establish a strong sales cycle and generate revenue to survive and thrive in the market. However, there are times when companies are not very profitable. They may eve end up being trapped on the edge of bankruptcy. Sometimes, this prompts the owner to either withdraw from the market or reorganize  … Read more

So your business is facing, or is already in serious financial trouble, you need to consider a few avenues of business debt relief. While debt is not all bad, there is a specific sweet spot within which your debt will keep your business productive. Once you breach this point, you risk going into a downward  … Read more

Dealing with business debt problems is one of the biggest skills a manager or leader can have. For small businesses, there will be only one person handling finance, so debt problems are a big deal. A business may have to shut down if they are not able to handle the burden of debt. Business Debt  … Read more

There are many ways in which payday loans are handled in case of a bankruptcy. First, it is vital that you understand that there are two types of bankruptcies; chapter 7 and chapter 13. A chapter 7 is when your assets are sold and you are liquidated. Payday loans during bankruptcy will be paid off and  … Read more

There are a number of instances when wages can be garnished by a lender. When a chapter 7 bankruptcy is filed, the court will place an automatic stay on your creditors. It is done to protect your assets, as a first step. In most cases, wage garnishments fall under this category. So if you fear  … Read more

Are you struggling with medical bills? You aren’t alone. In fact, it is estimated that nearly 25% of Americans have serious medical debt problems. Over half of those people may go to drastic measures like using their savings to pay it off. That is not necessary! There are other medical debt relief options that can  … Read more