When Chapter 7s Are Not So Simple
The goal of most Chapter 7 cases is to get in and get out—file the petition, go to a simple 10-minute hearing with your attorney a month later, and two months later get your debts written off. Mission accomplished, end of story. And usually that’s how it goes. So when it doesn’t go that way, […]
Can an Individual Chapter 7 Case Ever Save Your Business?
Chapter 13 can be a great way to keep certain small businesses afloat, but how about Chapter 7? Can’t it ever be a simpler and cheaper way to do so? In my last blog I said that Chapter 7 is “seldom the right option if you own a business that you want to keep […]
Ten Things You Need to Know About Assets and Exemptions in Bankruptcy
Most of the time, you get to keep whatever you own when you file bankruptcy. These 10 truths tell you how it works.
Creditors to Whom You Feel a Special Loyalty
In bankruptcy it’s okay to FEEL differently towards some creditors than others. You can also sometimes ACT differently, but only if you very carefully follow the rules.
Does Filing Bankruptcy Affect a Non-Citizen’s Immigration Status?
Usually not. But in some limited situations the indirect consequences can be huge. Considering what’s at stake, if you are either a legal or illegal immigrant considering filing bankruptcy, this is definitely an area where you need the advice of both a bankruptcy and immigration attorney. It’s my job to give my clients advice, but […]
What Happens to Your “General Unsecured Debts” in Chapter 7?
Your “left-over debts”–those which are neither secured by collateral nor belong to any of the special “priority” categories–often don’t drive the decision about whether to file Chapter 7 or 13. But you still need to know how these “general unsecured debts” are handled under these two options.
A Happy Chapter 7 Trustee Means a Happy Chapter 7 Case
My goal with our Chapter 7 clients is to provide a smooth path through bankruptcy to a fresh and clean start. The way to get there is to do what it takes to keep your Chapter 7 trustee happy. We keep the trustee happy by making it easy for him or her to do his […]
Who Is the “Bankruptcy Trustee” and How Can He or She Help or Hurt Me?
The three kinds of trustees in consumer bankruptcy have tremendous power over you. So it’s important to know what they do, and how to stay in their good graces. I’ll introduce them in this blog—the Chapter 7 trustee, the Chapter 13 trustee, and the United States Trustee. Then in upcoming blogs I’ll tell you more […]
Protecting Yourself When Your Business Has to Throw in the Towel
If you’re seriously considering closing down a struggling business, you are likely very concerned about personal damage control: how do you end the business without being pulled down with it?