The Most Important Things to Know If You Get Sued by a Creditor
Getting sued by a creditor starts a very fast-ticking time bomb. You should and you CAN prevent this bomb from going off.
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Entries by pdxlawgrouppcadmin
How Fast Can the “Automatic Stay” Stop a Wage Garnishment?
Bankruptcy stops a wage garnishment instantly. Except local laws and the exact timing determines what happens to any current paycheck. Federal Bankruptcy Law and State Garnishment Law Bankruptcy is in the U.S. Constitution, which was ratified 226 years ago this month. The Constitution gives Congress the power to make laws about bankruptcy. So it’s […]
Chapter 13 Can Especially Protect Your Co-Signers
Chapter 13 “adjustment of debts” goes a big step further than a Chapter 7 case by protecting your co-signers and their assets.
Are You Eligible to File a Chapter 7 Bankruptcy Case? How About a Chapter 13 One?
Eligibility depends on 1) the kind of debtor, 2) the kinds and amounts of debts, 3) the amount of income and 4) of expenses.
Business Disputes that Follow You Into Your Bankruptcy Case
A creditor can challenge the discharge of its debt in bankruptcy. This is not common, but is more so after a debtor closes a business.
Your Bankruptcy Options If You Owe Income Taxes After Closing Your Business
Most people who close down a failed small business owe income taxes. Chapter 7 and Chapter 13 provide very different solutions.
The Benefits of Both “Asset” and “No Asset” Chapter 7 After Closing Down a Business
A Chapter 7 case will wipe out all or most of your personal liability from a closed sole proprietorship, corporation, LLC, or partnership.
Choosing the Right Solution in a Closed-Business Bankruptcy Case
Whether to file under Chapter 7 or Chapter 13 depends largely on your business assets, taxes, and other nondischargeable debts.
Close Down Your Small Business, Get a Fresh Financial Start
Closing down a business can leave you with huge debts and no income to pay them. Bankruptcy may be necessary, and be easier than you think.
Watch Out for Money Still in Your Checking Account on the Day Your Bankruptcy is Filed
Can your Chapter 7 trustee claim money that HAD BEEN in your checking account but then was paid on outstanding checks? Yes, in some states.