The Most Basic Concept in Bankruptcy: Debts
The most practical questions you likely have if you are considering bankruptcy is what it will do to each of your debts.
The most practical questions you likely have if you are considering bankruptcy is what it will do to each of your debts.
The closing of your business, followed by your personal bankruptcy filing, often ends threatened or ongoing business litigation against you. But here are three situations where that litigation could well continue regardless of the bankruptcy.
If you owe more business debt than consumer debt, then you can avoid not only the “means test” but also some other roadblocks to a successful post-business Chapter 7 bankruptcy case.
When does filing a Chapter 7 “straight bankruptcy” case help you enough so that you don’t need a 3-to-5-year Chapter 13 case?