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Category: Chapter 11

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Filing for Bankruptcy to Save Your Assets: Waiting Could Hurt You

One of the most frequent mistakes made by bankruptcy filers is that they wait too long to file. It’s natural to feel a reluctance to start the bankruptcy process. Considering filing for bankruptcy and actually filing are two very different things, but don’t allow yourself to get stuck in the considering phase too long. During […]

Should I Keep Paying Bills or Stop Paying My Bills if I’m Filing for Bankruptcy?

One of the most common questions from individuals who are about to file bankruptcy or are in the process of filing is, “Should I keep paying my bills or stop paying them before I file?” Since most who have decided to file for bankruptcy are either very overextended or delinquent, it’s not surprising that the […]

Credit Counseling vs. Bankruptcy

Nearly every bankruptcy consultation will eventually lead to one big question: Is filing Chapter 7 bankruptcy a better option than credit counseling? It’s a big question with a big answer because they are both valid options and the only way to respond to the question appropriately is with a list of pros and cons.   […]

Chapter 7 vs. Chapter 11 for Small Businesses

When filing for bankruptcy the first decision that has to be made is what type of bankruptcy will be filed. There are certain qualifications for each and each one has its own pros and cons. Chapter 7 bankruptcy, put simply, is a case of liquidation. It can be described as the most straightforward solution to […]

Defining Your Bankruptcy Options: Chapter 7, Chapter 11 and Chapter 13

When considering solutions to financial catastrophe, bankruptcy is an obvious choice. Legal professionals can walk individuals in need of bankruptcy advice through the basics and show them the ropes, but it’s best to walk into this type of situation with a basic understanding of the terminology. It helps avoid confusion. Generally speaking, bankruptcy is a […]