Tag: chapter 11 Archive
Thinking About Filing for Bankruptcy: The People Who Could File
There are three types of bankruptcy: Chapter 7, Chapter 11 and Chapter 13. If one doesn’t suit the situation, another is probably a good option. Many individuals and businesses interested in filing contact an expert in bankruptcy requesting a black and white answer to the common question, “Should I file ...
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Thinking About Filing Bankruptcy: The People Who Should File
Layoffs, pay cuts, foreclosures…there are so many reasons for the drastic increase in debt burdened Americans who are toying with the idea of filing bankruptcy. Some are filing personally and some are filing for their business. In the fiscal year ending September 30th, 2008, the number of filings reached 1 ...
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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 ...
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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. ...
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