Bankruptcy

Individuals who pass a means test can potentially file for Chapter 7 bankruptcy. Adults in Florida past the means test by adjusting their income and comparing it with the state median for their household size. Chapter 7 bankruptcy is popular in part because it is so...

It takes a lot of money to keep a business running. There are rent payments or mortgages for each facility your company operates, as well as the costs of worker wages and benefits. The larger and more successful your company becomes, the more the cost to operate the...

Chapter 13 bankruptcy is a viable solution for business owners and successful professionals with too much debt to balance their budgets but too much income to qualify for Chapter 7 bankruptcy proceedings. Unlike Chapter 7 bankruptcy which has strict income limits that...

The different forms of bankruptcy can help people experiencing financial hardship make arrangements that will help them regain control over their budgets. For many people, Chapter 7 is the form of bankruptcy they'd prefer to file, but it isn't always the best option....

A business bankruptcy can help you get rid of your remaining company debts when you close the company or can help you save the business by reorganizing your debts. Chapter 7 bankruptcy requires liquidation of company assets to repay creditors, while Chapter 11...

If you get yourself into a position where you can afford to repay your debt but you’re always working through a Chapter 7 bankruptcy, you may be wondering if you can cancel the bankruptcy and avoid having it on your record. Unfortunately, you don’t have the right to...

When your small business is struggling financially and you’re a sole proprietor, you need to start looking into solutions as quickly as you can. While bankruptcy might not be the first thing you try, it is a possible solution if you are still bringing in profits but...

When you are struggling with the debts you owe for your small business, it can be hard to want to think about bankruptcy. You may only have ever seen small businesses go through bankruptcy when closing, but that’s not necessarily what has to happen to yours....

Debt issues can develop because of a car crash, a diagnosis with cancer, the loss of a job or even a failed business start-up. Those without the resources to address their mounting debts may eventually turn to bankruptcy for a discharge of unsecured personal debts....

Business bankruptcy can be an opportunity to reduce expenses and preserve the business from possible failure. It can also be a step in the process of closing the company and liquidating its assets. The company can temporarily halt collection activity and present a...