Contrary to popular belief, filing for bankruptcy doesn’t mean that your company is automatically out of business. Rather, your business is fully capable of remaining in operation. This holds true even if it is a non-profit organization. What is Chapter 11 bankruptcy?...
Should you consider bankruptcy?
When you start to feel overwhelmed by your debts, bankruptcy may be one of the first options that you think of. In reality, bankruptcy is only one of many methods for getting rid of debts. It's a good idea to understand what's involved in the bankruptcy process so...
Can you file for Chapter 13 after filing for Chapter 7?
When you file for Chapter 7 bankruptcy in Florida, you'll get the chance to discharge most of your unsecured debts. Unfortunately, Chapter 7 might not be enough. If you're still struggling with debt a few years later, you might have to file for Chapter 13. When can...
Common reasons for Chapter 13 bankruptcy dismissal
Sometimes, debts get out of a debtor's control, making them hard to pay and manage. Bankruptcy gives them an option to remove some debts by liquidation through Chapter 7. If a debtor wants to pay their debt and keep assets, Chapter 13 allows them to use a payment plan...
The responsibilities of a bankruptcy trustee
If a debtor in Florida feels they can not manage their debts anymore, they commonly consider bankruptcy. Bankruptcy helps debtors remove certain debts legally by a liquation process in Chapter 7 and debt repayment under Chapter 13. Each bankruptcy type commonly...
Strategies for paying down credit card debt
It may be possible to eliminate credit card debt in a matter of months by filing for bankruptcy in Florida. However, doing so may also result in a significant hit to your credit score and creditworthiness. Let's take a look at what you should know before resorting to...
How medical debt can lead to bankruptcy
Everyone faces medical issues in his or her life to some degree. Unfortunately, the issues become even more stressful when it extends to family budgets. In many instances, insurance companies design their coverage to force a patient into a repayment situation with the...
Small businesses and bankruptcy
As a small business owner in Florida, you understand the risks of putting everything on the line to ensure that your company can thrive. Unfortunately, the chances of a small business making it past five years are not too high. When they run into trouble, business...
Possible relief for student loans in the near future
Student loan debt is a large burden for many South Florida residents. Even after earning a prestigious degree, some student loan borrowers struggle to keep up with their repayment obligations. Recently, a bill was introduced that may provide some relief for student...
What to know about bankruptcy and liquidation
Generally speaking, if a company is going through a bankruptcy or a liquidation, it means that the organization is in financial peril. In some cases, these moves are made in an attempt to pay creditors before going out of business. However, it is important to note...
