Give the bankruptcy trustee the headache of dealing with your final business assets. The owner of dying business tends to have a hard time figuring out how and when to close the doors of that business. Even after deciding that he or she will likely have to file a personal bankruptcy to get a […]
The best New Year’s resolution for improving your life: Find out your legal options for tackling your debts, and then act on what you learn.
When the sole proprietor of a just-closed business files a personal Chapter 7 bankruptcy case, the trustee may or may not have assets to liquidate and distribute to the creditors. If not, the case will more likely be finished faster. But if the trustee does collect some assets, there can be some bigger advantages in […]
If you expect to owe 2012 income tax, you may be able to take care of it simply by paying less to your other creditors.
Using a Chapter 7 case to clean up after closing down your business will be easy or not depending largely on three factors: business assets, taxes, and other nondischargeable debts. These three will usually also determine if you should be in a Chapter 7 case or instead in a Chapter 13 one. Once you’ve closed […]
If you expect to owe 2012 income taxes, and you file bankruptcy after December 31, that tax can be “included” in your case.
The risk that creditors will not allow you to discharge some of their debts can be minimized through smart timing of your bankruptcy.
Closing down a business can be messy. A bankruptcy filed to deal with the financial fallout of a business closure is often more complicated than a normal consumer bankruptcy case. But not necessarily. In one respect at least, a business bankruptcy can actually be much easier than a consumer one. If you’ve owned a small […]
The headline story: many more Americans now believe that strong conflict exists between the rich and the poor. The surprising backstory: our attitude has NOT changed about how the rich got to be that way. This follows up on my recent blog about the report by the Pew Research Center titled “Rising Share of Americans […]
Your abundant love for your children, spouse, and others is not defined by an (over)abundance of holiday gifts.