Claiming bankruptcy is all about protecting your finances. But bankruptcy cannot solve all financial problems, nor can it protect all your resources. Each debtor has to choose what they will prioritize and how they will do so. One of the biggest decisions is whether you will prioritize protecting your income or your assets. Here's what you need to know about both routes.
How to Protect Income
Choosing Chapter 7 bankruptcy is one of the easiest ways to protect your income. Read More...
Most borrowers who file for Chapter 7, or liquidation, bankruptcy see their case to its completion successfully. However, a few find themselves denied for a variety of reasons. What are these? How can you avoid any problems that may lead to denial? And where can you get help navigating a successful case? Here's what you need to know about the four most common reasons for denial.
1. A Recent Bankruptcy Read More...
Restructuring your company through Chapter 11 is often the only solution for a company that is experiencing financial distress. However, many companies will attempt an out-of-court restructuring prior to eventually filing Chapter 11 bankruptcy. If you are not sure which option is the best for you, it's a good idea to consult with a bankruptcy lawyer.
The Challenges of an Out-Of-Court Restructuring
You might wish to avoid going to court because it is more expensive than restructuring out-of-court. Read More...
Hard-working individuals may be facing Chapter 7 bankruptcy no matter how they try to avoid it. While filing for Chapter 7 bankruptcy requires a lot of thought and consideration, like most things, the impact is not as severe as some might think. One aspect of bankruptcy some worry about is how it might affect their employment. For those concerned about their job security after filing Chapter 7 bankruptcy, learn more by reading below. Read More...
Some chapter 7 bankruptcy filers may overlook the possibility of having to surrender personal property to the bankruptcy trustee. While the vast majority of filers never have to give up any property, certain situations can call for a home visit to inspect personal holdings. This visit can create distress among some filers but it doesn't need to. Read on to find out more about home visits and the red flags that might prompt the trustee to schedule a visit to your home. Read More...