Archives for March 2023

When individuals or spouses experience a difficult financial situation, they may wonder if bankruptcy protection is a good strategy to discharge their debt so that they can get a fresh start. It is important to note that regardless of the type of bankruptcy filed - Chapter 7, 11 or 13 - some debts may not be discharged in a personal bankruptcy. Non dischargeable debts in a bankruptcy may include but are not limited to certain tax claims, debts for spousal maintenance in a divorce, child … [Read more...]

A Chapter 11 Business Bankruptcy is a strategy businesses may employ to solve a difficult financial situation without having to close their doors. Chapter 11 allows businesses to reorganize assets and debts making it possible to return to being a strong, more profitable company. Many debts that a business has accumulated may be renegotiated in a Chapter 11 bankruptcy. Credit card debt, unsecured bank loans, liability for broken contracts or leases, and certain tax obligations may be … [Read more...]