liquidation bankruptcy

Can an LLC File for Chapter 7?

Can an LLC File for Chapter 7?

Many individual debtors file for Chapter 7 bankruptcy because they will obtain some financial breathing room through the discharge of their unsecured debts. For example, credit card debt can spiral upward over time, and it can reach the point where you simply can’t pay all of your credit card bills and the other debts that […]

Do I Keep My Property in a Chapter 7?

A Chapter 7 bankruptcy is a liquidation bankruptcy. Speaking in a very general sense, this means that your property is turned over to a trustee when you file for this type of bankruptcy. The trustee is required to liquidate the property and the proceeds will be used to pay back as much of your debt […]

How Will a Bankruptcy Filing Impact My Credit?

Clearly, a bankruptcy filing is going to have a significant impact on your credit, and the exact details will vary depending upon many different factors. When it comes to your FICO score, if your score was low prior to your bankruptcy filing, the reduction will be minimal. Some people end up with better credit scores […]

Feeling at Ease With Your Bankruptcy Attorney

Money matters are sensitive and personal, and there are not too many people that are anxious to discuss their financial affairs with someone they have just met for the first time. This is certainly a prudent way to conduct yourself, but the “close to the vest” approach can have a downside if you are having […]