Chapter 7 bankruptcy allows you to get rid of most of your unsecured debts. However, it also liquidates your nonexempt assets to pay off your creditors. If you are a business owner considering a personal Chapter 7 bankruptcy, you might be worried about losing your...
Chapter 7
Can you discharge student loans through bankruptcy?
Student loans have become a significant financial burden for many Americans. If you are struggling with student debt, you might wonder why these loans get a different treatment from other types of debt in bankruptcy proceedings. It is crucial to understand why student...
What are the benefits of filing for bankruptcy?
Are you feeling overwhelmed by mounting debts and endless bills? You're not alone, and there is a way out. Bankruptcy might sound intimidating, but it can be a powerful tool to help you take back control of your finances. In this blog, we’ll explore how filing for...
Can Chapter 7 bankruptcy wipe out all your debts?
If you are considering filing for Chapter 7 bankruptcy, it is crucial to understand that you may not be able to wipe clean all your debts. While this form of bankruptcy could provide significant relief, certain obligations remain your responsibility even after...
Can a court deny a Chapter 7 discharge?
Imagine finally finding relief from the overwhelming debt weighing you down. You've taken the brave step of filing for Chapter 7 bankruptcy, and you're looking forward to a fresh start. But what if the court denies your discharge, keeping you stuck with the debts you...
Errors to avoid when filing for Chapter 7 business bankruptcy
Struggling with debt can be overwhelming, especially for owners of small and mid-sized businesses. When facing financial hardship, Chapter 7 bankruptcy may seem like a viable option. However, the process can be complex due to various pitfalls. If you are a business...
Can I lose my home after filing for bankruptcy?
For property owners, filing for bankruptcy may sound scary. This process helps address overwhelming debt by organizing assets and paying off creditors while receiving the court's help to determine relief options through discharges and other arrangements. This process...
What can impact eligibility for discharge in a Chapter 7 case?
Filing for bankruptcy is often the final resort to addressing overwhelming debt. In Chapter 7 cases, debtors can find help organizing their assets and relieving specific loan types based on their circumstances. This option can also help them receive discharge releases...
How does filing for Chapter 7 affect your employees’ 401(k)?
As a business owner considering Chapter 7 bankruptcy, you might feel concerned about your employees' future — particularly their 401(k) plans. Bankruptcy does have implications for these defined contribution plans. But fortunately, government protections exist for...
A business’ situation dictates which bankruptcy chapter to use
Florida businesses will inevitably have their ups and downs. If there are financial issues and bankruptcy is needed, it is important to have an idea of the preferable option based on the circumstances. This is when it is important to know whether the business can...