During this difficult time, you may be considering filing for bankruptcy for your business. But, what happens to your employees if your business files for bankruptcy? Chapter 11 Most businesses file under Chapter 11 bankruptcy to enter into a repayment plan with creditors or sell off assets with the assistance of the bankruptcy court. Regardless [...]
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If your company is in financial trouble, you may be weighing your options on the best way to proceed. When moving forward with a company liquidation through Chapter 7 Bankruptcy, you are probably wondering what will happen to your employees. First, you will want to make sure that you provide proper notice of mass layoffs [...]
During these uncertain times, you may be worrying about the best options for your business. Did you know that a business or LLC can file for Chapter 7 Bankruptcy? How It Works Just like an individual filing, the Chapter 7 Trustee will liquidate the assets of your business and settle your debts. However, exemptions will [...]
During these difficult times, you may be worried about how stay afloat. But, there are options to help you get out of debt and moving towards a your financial fresh start. Before you make any decisions, you should take time to speak with a qualified bankruptcy attorney to go over the options that will work [...]
Myth: I can file all by myself Technically, yes. However, it is almost impossible for an ordinary person to properly complete and file the required bankruptcy paperwork. In fact, there are many detailed articles about how the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005. One small miscalculation, incorrect form, or missing a deadline [...]
At the Law Office of Daniela Romero, we hope that you are staying safe and unhealthy. In these uncertain times, you may be wondering what help is out there for you. In fact, you have probably heard about the CARES Act, but may be wondering what it is and how it can help you. So, [...]
Myth: Chapter 7 and Chapter 13 Bankruptcy are the same. There are two types of bankruptcy available for most consumers. Each one takes a different approach to solving your financial problems. Chapter 7: Commonly referred to as a "liquidation bankruptcy." However, it is important to know that this doesn’t mean you have to sell all [...]
If you are currently locked into a long commercial lease but are facing financial difficulties, you may be worried about filing for bankruptcy. Don’t worry! There are options available for you and your business. Also, what will happen will depend on the type of business you own and under which chapter of bankruptcy you file. [...]
Bankruptcy Myth 8: You Can Handle This Yourself You may think that since you got yourself into this financial mess, you can get yourself back out. It's great to take responsibility for your situation, but when it comes to a bankruptcy, you will likely cause more problems than you need. If this is how you’re [...]
Investing in your education is something that can come with a big price tag. In fact, many people find that that they have accumulated thousands of dollars in debt by the time they finish their education. And, for some, it is too much to repay. For some, bankruptcy is a necessary solution before finishing school. [...]