Our attorneys are subject matter experts who have years of experience and can help you figure out what to do when you feel stressed and vulnerable. They'll find exemptions for you to help you get the most out of your case. Here’s how to start the bankruptcy process: Contact a qualified...
Bankruptcy is a legal proceeding initiated when a person or business cannot repay outstanding debts or obligations. It offers a fresh start for people who can no longer afford to pay their bills. The bankruptcy process begins with a petition filed by thedebtor, which is most common, or on be...
Starting a business is a pursuit that appeals to many, but not everyone knows where to start. This guide will walk you through the elements of starting a business and explain what you can expect as you embark on the journey.
Chapter 7 bankruptcy is a legal process where a debtor's non-exempt assets are liquidated to pay off creditors. This type of bankruptcy allows individuals or businesses to discharge most of their debts, providing a fresh start. However, it may require the forfeiture of certain assets to satisfy...
Bankruptcy is a status in which a court, by way of a judicial process, deems a person unable to pay their debts. There are two kinds of personal bankruptcy for which you can file: Chapter 7 and chapter 13 bankruptcy. What’s the difference between chapter 7 and chapter 13 bankruptcy fili...
What happens if an LLC member wants to leave the business? When a member exits an LLC, the process follows your operating agreement’s terms. This is why having a detailed operating agreement from the start is crucial. The agreement should spell out how ownership transfers work, how to value...
If either of the following situations applies to you, investigate options fordebt relief, which can include bankruptcy ordebt management plans. You can't repayyour unsecured debt — credit cards, medical bills, personal loans — within five years, even with drastic spending cuts. ...
business, there would be a certain amount of loan that you would have to get. The startup usually has a higher risk of falling victim to bankruptcy. There are different types of loan policies, and then there is a chance of loss at the startup, and hence thechance of bankruptcy also ...
The most important part of this whole process is to make sure that you do not do anything that will negatively affect the bankruptcy process. You should avoid any type of investment that could be seen as an attempt at gaining money by your creditors. If your business has a lot of money ...
Public companies tend to file under Chapter 11 rather than Chapter 7 because it allows them to continue to run their businesses and participate in the bankruptcy process. Rather than simply turning over its assets to a trustee for liquidation, as it would have to in Chapter 7, a company ente...