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Filing for Bankruptcy After Losing a Lawsuit

Filing for Bankruptcy After Losing a Lawsuit

Lawsuits can merely be a nuisance for many companies and a cost of doing business. For individuals, they may be considered just an inconvenience if they have few assets to lose. If you have been sued for a business debt or other matter and face considerable exposure and asset...
Can Creditors Still Come After You If You File for Bankruptcy?

Can Creditors Still Come After You If You File for Bankruptcy?

The major reason companies and individuals file for bankruptcy is because of the fear of losing assets if they are sued and a judgment is entered against them. Once you file for bankruptcy protection under a Chapter 7, 11 or 13, however, your creditors are subject to an automatic...
The Hidden Complexities of Construction Bankruptcy

The Hidden Complexities of Construction Bankruptcy

The construction business can present numerous challenges for the bankruptcy law practitioner as well as for the entity who is filing for bankruptcy protection. In many construction projects, there are numerous subcontractors involved who could at any time file for bankruptcy and...
What to Look for in A Bankruptcy Lawyer

What to Look for in a Bankruptcy Lawyer

Anytime you need legal advice or representation you need to do your due diligence in finding the attorney who will competently handle your particular needs or issues. In a bankruptcy case, it is important that the attorney handling your case be fully aware of your financial...
options to eliminate debt

Options to Eliminate Debt

While the business of America may be business, the American way of life may be debt. Millions of consumers are in of debt of varying degrees with mortgages, car loans, medical expenses, student loans, and credit cards. Business owners are more often than not in debt. Banks,...
reasons why executory contracts might be rejected

Reasons Why Executory Contracts May be Rejected

Executory contracts are often referred to as unexpired leases. If an individual or corporation should file for bankruptcy protection under Chapter 11, then the issue of an executory contract is whether it should be assumed or rejected for the benefit of the estate. An executory...
can bankruptcy eliminate student loan debt?

Can Bankruptcy Eliminate Student Loans?

Student loans are a different animal when compared to other loans and obligations. In a bankruptcy, consumers can use either of two chapters of the bankruptcy code, Chapter 7 or Chapter 13, to deal with most of their debts. A Chapter 7 is a liquidation where you are able to...

What Happens to My House When I file for Chapter 7 Bankruptcy?

Filing Chapter 7 is a means of discharging burdensome debt and giving you a fresh start. In most cases, debtors are able to keep most if not all of their property while no longer being obligated to pay unsecured debts like credit cards, medical expenses or other unsecured debt....
property exemptions under state laws

Property Exemptions Under Various State Laws

Federal law allows debtors to use state rather than federal exemptions when filing for bankruptcy protection but it does allow states to opt out and require that debtors filing in its state be limited to the state exemptions. Sixteen states allow debtors who are filing for...
information for your bankruptcy attorney

Information to Give a Bankruptcy Attorney

Once you decide that a bankruptcy may be your best option for you and your family or for your business, you will have to provide certain information to your bankruptcy attorney. Regardless of the state you live in, the information your attorney needs to properly advise you and to...