Tag Archives: liquidation
How Can I File Bankruptcy If I Can’t Afford My Bills?
At networking events, often tongue-in-cheek, I’m asked “How do you get paid as a bankruptcy attorney?” To the sarcastic out there, my response is “I get paid up front.” For those who sincerely ask that question (and I assume it would be most of you still reading this post) there are 5 ways to… Read More »
Can I File Bankruptcy If I Own A Business?
The simple answer is yes, you can file bankruptcy if you own a business. I’m not referencing a business that is failing that needs to file bankruptcy – that would be a Chapter 7 or Chapter 11. Instead I’m referencing someone who needs to file bankruptcy, either Chapter 7 Liquidation or Chapter 13 Reorganization,… Read More »
Why Is Bankruptcy So Odd?
The Bankruptcy Code is broken into nine chapters, eight of them are odd-numbered and one is even-numbered. While the reason for odd numbered chapters is to allow for expansion of the Bankruptcy Code, when a new chapter was added in 2005 by the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA), it was added… Read More »
Four Ways To Stop Creditors From Calling
Next to issues about credit, the question we get most often is how to stop creditors from calling. In fact, I’ve often said at networking events that one thing to look for that would be a great referral for me is someone who’s cell phone keeps ringing, and each time it rings the person… Read More »
When Is Bankruptcy Right For Me?
A while back, I wrote a blog titled “What Chapter of Bankruptcy is Right for Me?” This blog is meant to supplement, or even precede that blog as we explore whether someone should even file bankruptcy. The determination on whether to file is largely based upon the debtor’s income and non-exempt assets. We are… Read More »
What Will The Bankruptcy Trustee Ask?
Imagine that you’ve made the hard decision to file bankruptcy, to erase your debt and get a fresh start. To determine what chapter of bankruptcy is right for you, please read “What Chapter of Bankruptcy is Right for Me?“. In every bankruptcy case, approximately thirty days after the filing date, the debtor and counsel… Read More »
Your Attorney’s Biggest Frustrations
Okay, so these may not necessarily reflect your attorney’s biggest frustrations, but they represent mine. While we are sympathetic, there are some clients or some prospects that we are unable to help, because: Unrealistic Expectations: These are the clients that believe that the practice of law is like an episode of “Law & Order.”… Read More »
How Many Years Between Bankruptcy Filings?
Bankruptcy has a negative connotation or stigma and although it is a great tool to eliminate or consolidate debt, many people find it is too stressful or intimidating to file more than once. Unfortunately, sometimes, it is necessary to file bankruptcy more than once in the debtor’s lifetime. When or if it becomes necessary… Read More »
How Do I Make Myself “Look Better” To Qualify For Bankruptcy?
In bankruptcy consultations, we are often asked “What can I do to qualify for bankruptcy?” or the related question “Should I quit my job, get a divorce, incur more debt, etc. to be able to file bankruptcy?” My first full year as a solo practitioner was 2005. The firm did well and I was… Read More »
Pros & Cons Of Filing Bankruptcy
One of the questions asked most often by clients relates to the pros and cons of filing bankruptcy. This question is both difficult to answer and based largely on the specific facts and circumstances of the individual considering bankruptcy as an option. Accordingly, we’ve created the following table. Filing Bankruptcy Comparisons Chapter 7 Pros… Read More »
