chapter 11

How Much Should You Be in Debt before Filing for Bankruptcy?

How much debt should you be in before filing bankruptcy? A common question on consumer minds is whether or not they have enough debt to justify filing for bankruptcy. The answer is not as simple as “X dollars” is the threshold. Instead, it comes down to your unique financial situation, the type of debts you…

Read More...
341 hearing with creditors

Can I Stop Bankruptcy after I Have Already Filed?

Can you stop bankruptcy after you have filed? As a debtor, you decide to file for bankruptcy. If you voluntarily wish to dismiss the case after doing so, you have that right. However, before you dismiss your bankruptcy case, you should consult with an attorney to make sure it is the right call. After all,…

Read More...
bankruptcy

Can a Business Survive Chapter 11?

Can a Business Survive Chapter 11? As a struggling business owner, you want to keep your doors open, preserve your legacy, and save the jobs of those who are dedicated to your company. So, when you start considering bankruptcy to get out from your business debts, you may wonder if your business will survive the…

Read More...

A Quick Guide for Companies Considering Chapter 11 Bankruptcy

Considering Chapter 11 Bankruptcy? Bankruptcy, whether personal or business, is a procedure governed by federal (not state) laws. Because it is a federal procedure, bankruptcies run through the Federal District Courts rather than state-level courts. As a business owner, you have options when you find yourself unable to meet debt obligations. Not only can you…

Read More...
chapter 12 bankruptcy

Tips for Planning Your Chapter 11 Reorganization

Planning Your Chapter 11 Reorganization? Chapter 11 bankruptcy is the ideal solution if you want to keep your assets but get relief from creditors. The most important aspect of filing for Chapter 11 is your reorganization plan. The court requires your reorganization plan and must approve it before you proceed with Chapter 11. In its…

Read More...
chapter 11 bankruptcy

What Does It Cost to File Chapter 11 Bankruptcy?

What does it cost to file Chapter 11 bankruptcy? One common question attorneys receive when a client is considering bankruptcy is how much it will cost. After all, you are overburdened with endless debts and barely scraping by financially. While bankruptcy provides relief from creditors and liabilities, you still must pay for that relief. So,…

Read More...
Bankruptcy Exemptions

What Are the Bankruptcy Exemptions for Chapter 11 and Chapter 13?

Each form of bankruptcy works in its own way, with Chapters 7, 11, and 13 differing from one another substantially. One of the biggest differences is how exemptions are applied when it comes to your personal property. What are the bankruptcy exemptions for Chapter 11 and Chapter 13? Chapter 11 Filing for Chapter 11 means…

Read More...
proof of claim

What is a Proof of Claim in a Bankruptcy Case?

What is a proof of claim in a bankruptcy case? It is a written statement that tells the court, the debtor, and the trustee, along with other interested parties, that a creditor will exercise the right to receive a payout from the bankruptcy estate. In a Chapter 7 or Chapter 13 consumer bankruptcy case, when…

Read More...
bankruptcy

Will Your Spouse be Affected if You File for Bankruptcy?

Will your spouse be affected if you file for bankruptcy? In most cases, a married couple decides to file for bankruptcy together. However, there are instances where one spouse carries more premarital debts; therefore, it makes sense for only him or her to file. If this situation sounds like your own, you may wonder how…

Read More...
bankruptcy

Five Surprising Facts about Bankruptcy in the U.S.

Bankruptcy is not uncommon to American consumers. Even if one particular consumer has not filed, odds are high that he or she has a friend or family member who has before. Regardless of how common it is, it is still widely misunderstood. So, whether you are considering filing for bankruptcy yourself or if you have…

Read More...