Are you struggling with debt and considering bankruptcy? There are new bankruptcy thresholds that may help you qualify. Here's what you need to know: What is Bankruptcy Threshold Adjustment and Technical Corrections Act? On June 21, 2022, President Biden signed the Bankruptcy Threshold Adjustment and Technical Corrections Act. This bill made modifications for the amount [...]
Are you considering filing for Chapter 11 Bankruptcy, but have received something from the Paycheck Protection Program (PPP)? If so, you will want to keep reading. What is PPP? The Paycheck Protection Program, or PPP, was an Small Business Administration loan. It was aimed at helping businesses retain employees during the COVID-19 crisis. What Does [...]
In the wake of COVID-19, you may be considering filing for bankruptcy to deal with your debt. If you happen to owe the IRS money and are unsure what to do next, you have options! So, which bankruptcy chapter will help your situation? Chapter 7 A Chapter 7 takes less time and is primarily used [...]
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 [...]
When filing for bankruptcy, you may worry about what will happen to your assets. What you may not consider is what will happen to your artistic works. Artistic works fall under intellectual property (IP) and can include things such as composed songs, films, or literary works. Artistic Works in Bankruptcy If you have composed music [...]
It may be surprising to find out that there are certain scenarios where IRS tax debt can be discharged (eliminated). Or, your tax debt can be managed through bankruptcy. This will depend on a combination of factors, including under what chapter of bankruptcy you file. You should consider the age of the taxes, the taxes’ […]
