Save Your Small Business – SBRA / Subchapter 5 in Chapter 11

Help your Clients Get Relief from Personal Guarantees on Business Debt thru the SBRA. More and More Small Business Owners are struggling with debt not only on their business but personally as well. That’s because almost all small business debt is personally guaranteed by the owners, either on bank loans, or personal credit cards they […]

Eliminate small business debt and personal liability

New Subchapter V Saves Local Trucking Company The case referred to above was filed shortly after the new law went into effect and was recently confirmed as a Consensual Plan resulting in cash flow savings of well over $7,500.00 per month which allows the family owned company to maintain necessary rolling stock and equipment; eliminate […]

Retirement Funds “Safe” in Bankruptcy? Not so fast!

Everyone “knows” 401K funds, IRA’s and other Retirement funds are exempt in bankruptcy, “. . . to the extent that those funds are in a fund or account that is exempt from taxation under section 401,403,408,414,457 or 501(a) of the Internal Revenue Code of 1986. 11 U.S.C. §522(d)(12)(2018)” … until now! Recently, the Bankruptcy Appellate Panel […]

Chapter 12?

Most people think Bankruptcy falls under either Chapter 7 or Chapter 13. These are the basic consumer formats. Chapter 7 is basically a straight liquidation of non-exempt assets; while Chapter 13 supposedly allows a debtor to retain non-exempt assets through what is essentially a “buy-back” plan over a 3 to 5 years period. Some people (especially small business owners and […]

Seniors: The Next Wave of Bankruptcies?

The rate of people over the age of sixty-five who are filing bankruptcy has more than tripled since 1991, according to recent study done by the “Consumer Bankruptcy Project”. Continuing at the current rate, Bankruptcy Courts will soon be overrun with the financially devastated elderly. 12.2% of filers are now 65 or order, as opposed to 2.1% […]

What Does A Bankruptcy Attorney Actually Do Besides File Bankruptcies?

I recently had a client come to me seeking bankruptcy help because she could no longer pay her bills due to an accident injury that left her unable to work. The wife of a retired Police Officer, she was mortified by the thought of having to file bankruptcy, but didn’t know what else to do. […]

How Do I Value My Possessions When I File?

Most people tend to grossly overvalue their possessions for Bankruptcy valuation purposes. It’s not how much you paid for them. It’s not how much you would have to spend to buy new or replace them. Nor is it what someone has listed similar items for in the paper or online. (Bear in mind, asking price […]

What to do If You Can’t Afford a Chapter 7 Bankruptcy Lawyer

People sometimes think they can’t afford an attorney to file Chapter 7 bankruptcy. They might consider the following alternatives. Filing for Chapter 7 Bankruptcy without an Attorney Bankruptcy laws don’t require you to have an attorney, however, read the article “Don’t try this at home,” Bankruptcy laws are complex, even simple Chapter 7 cases require you […]

10 Don’ts in Preparing to File Bankruptcy

1. Don’t transfer assets to anyone unless it is a genuine sale for fair value. 2. Don’t borrow money without talking to your attorney first. 3. Don’t write bad checks.

How to Find the Best Probate Attorney Port St. Lucie Florida

Looking for the Best Probate Attorney Port St. Lucie Florida? Things can get complicated after losing a loved one. Many questions can arise along the way. How do you carry on with the probate? How do you know how much inheritance you are entitled to? If you are asking similar questions, you need the help of […]