There comes a time for many people when they’re facing bankruptcy and wondering what it will do to their credit report. Even if you have responsibly managed your money things can happen such as a divorce or an accident that puts you out of the workforce. Do not let people make you feel bad about […]
30
Sep
Sep
Unfortunately bankruptcy and divorce often go hand in hand. It is rare that the income from one household can sustain two households. When you find yourself getting divorced with one or both of you also facing bankruptcy, you or your affected spouse may feel like everything is falling apart. That may be true. However you […]
26
Apr
Apr
There are two different types of bankruptcy, Chapter 7 and Chapter 13. Understanding which one is right for you is as important as understanding if Filing for Bankruptcy is the right thing for to do. If you live in San Diego, CA, I strongly recommend consulting with a Bankruptcy attorney here in San Diego. They […]
26
Apr
Apr
Many small businesses are run and operated by the business owner/sole proprietor. This is common for service oriented businesses like carpet cleaners, yoga instructors, handymen, etc. This type of small business usually doesn’t have a lot of valuable assets that can be possessed by the bankruptcy official to pay your creditors. In this situation you […]
26
Apr
Apr
If you operate your business as a Corporation or a Limited Liability Company, the bankruptcy trustee will be able to liquidate your business, sell the actions, or sell the ownership of the business. You may be able to buy the business back, but if you need to borrow money from your friends or family this […]
26
Apr
Apr
Many small business owners have asked me if they can still own and operate their business if they file for a Bankruptcy Chapter 7. This depends on if your business has assets. If there are assets a bankruptcy trustee will be assigned to inventory and sell to action all of your non-exempt business assets. The […]
26
Apr
Apr
If you are a small business owner and you are in financial trouble, filing for Bankruptcy Chapter 7 may be the right thing to do. With the economy going up and down, the political changes, and rising cost of living, many small businesses struggle to survive. Even if a small business makes a profit they […]