Monthly Archives: July 2022
Will I Have To Pay Taxes On Debt Discharged In Bankruptcy?
If you have ever had debt forgiven by a creditor, especially before a bankruptcy case, you may know that forgiven debt is usually taxed. To be sure, if you owe a debt and work out a settlement agreement with the creditor to pay a portion of what you owe in order to have the… Read More »
Can I Be Required To Reaffirm Debt After Bankruptcy?
In some bankruptcy cases, a debtor might choose to reaffirm one or more debts, which will mean that the debtor will still be responsible for paying those debts once the bankruptcy case has been finalized. Most often, a debtor will reaffirm debt in circumstances where a particular debt has a co-signer and the debtor… Read More »
What Kinds Of Debts Are Usually Discharged In Bankruptcy Cases?
Debtors are eligible to discharge a wide range of debts in consumer bankruptcy cases. Indeed, some of the most common types of debts held by consumers can be discharged relatively quickly in Chapter 7 bankruptcy cases, as well as at the conclusion of a Chapter 13 bankruptcy case. If you are considering filing for… Read More »
How Does Bankruptcy Work For A Small Business?
If your small business is struggling and you are considering bankruptcy, you are likely wondering how a bankruptcy case would work for your business. There is no single way that bankruptcy works for small businesses since there are different types of bankruptcies that can be appropriate for a small business. To be clear, the… Read More »
Does A Business Bankruptcy Impact The Business Owner Individually?
Business owners who are considering the possibility of a business bankruptcy want to know if they will be affected individually by the business bankruptcy. The answer to that question depends upon the business structure, as well as whether the business owner is personally liable for any business debts. In other words, there are some… Read More »
Benefits And Limitations Of Chapter 13 Bankruptcy
If you are thinking about filing for Chapter 13 bankruptcy, it is important to understand the various ways in which Chapter 13 bankruptcy can be beneficial to consumers, and the ways in which it can also have disadvantages. Before you make any decisions about filing for Chapter 13 bankruptcy or any type of bankruptcy,… Read More »
Questions To Ask Your Bankruptcy Attorney
Making the decision to file for bankruptcy is something you should do carefully and with guidance from an experienced bankruptcy lawyer. As such, it is essential to find a bankruptcy attorney who has experience handling cases similar to yours and with significant experience working on bankruptcy cases more broadly in Florida. While the U.S…. Read More »
Does Chapter 7 Impact Foreclosures?
You might have heard that you can file for bankruptcy in order to stop a foreclosure. If you are facing the possibility of foreclosure, you might be thinking that filing for bankruptcy is the right decision for you because it will allow you to stop your foreclosure while giving you a way to manage… Read More »
What Is Commercial Bankruptcy?
Many different types of bankruptcy exist under U.S. bankruptcy law, and various parties can be eligible for bankruptcy. The terms “consumer bankruptcy” and “personal bankruptcy” are often used to describe bankruptcy cases filed by individuals or married couples. Differently, the terms “business bankruptcy” or “commercial bankruptcy” or “corporate bankruptcy” can be used to describe… Read More »
What Is Subchapter V?
When you hear or read about a reference to Subchapter V bankruptcy, you should know that this term refers to Subchapter V of Chapter 11 under the U.S. Bankruptcy Code. This specific subchapter of Chapter 11 is quite new, and it is designed for small business debtors to make the process of reorganization bankruptcy… Read More »
