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What is chapter 7 and how does it work?
When a person files a bankruptcy case, the goal is to wipe out as much debt as possible so that the person can get a fresh start. You may not want to get rid of some of your debts if, for example, you want to keep your home and car and want to continue to pay the mortgage and car payments. There are other debts that you cannot get rid of. Your other debts are either dischargeable, meaning that your personal liability will be eliminated, or non- dischargeable, meaning that you will continue to remain liable on the debt after your bankruptcy is over. Learn More
Not necessarily. There are different options when it comes to homes and vehicles when filing for bankruptcy. Learn More
If you’re facing what seems like insurmountable debt, you may be wondering if you can use your retirement savings instead of filing for bankruptcy. The straight answer is yes. But the more important question is whether you should. This is a quandary better handled by skilled bankruptcy attorneys. Because although it may sound scary, declaring […]
Corporate bankruptcy filings in the United States reached a 14-year high last year. In 2024 alone, 694 public and private companies filed for bankruptcy protection. This rise in corporate bankruptcies is alarming. The previous high was 638 in 2020 as the U.S. and global economies were hobbled by the COVID pandemic. In 2010, 828 companies failed […]