When companies go out of business and the debts surpass the amount of income, only a good corporate bankruptcy lawyer can help it get out of the difficult situation. Like business cases, companies also get two options when it is about filing for bankruptcy.
Chapter 13 Bankruptcy – The Basics
June 25, 2010 By
Chapter 13 bankruptcy is also known as “wage earner plan”. It is different from chapter 7 in a sense that it allows the debtor to continue with its existing venture. The bankruptcy court provides an opportunity to the debtor to reorganize their finances while paying off the reduced claims of the creditors simultaneously.
Business Bankruptcy Lawyer And The Various Chapters Of Bankruptcy Laws
June 25, 2010 By
If you are running a business that is drowned in the ocean of debts and is not in a position to meet its debt obligations, it may be the time to hire a business bankruptcy lawyer and file a court petition. There are usually two options available to you in this regard – filing under chapter 7 or filing under chapter 13. In order to make an informed decision regarding the same, it is very important for you to understand the basic provisions under both the chapters.
Do You Really Need A Bankruptcy Lawyer?
June 25, 2010 By
Gone are the days when people used to take filing bankruptcy as a “do-it-yourself” kind of project. These days, the laws have become so complicated that it is almost impossible for a person to handle his or her case without availing the valuable services of an expert bankruptcy lawyer.
Tips For Selecting A Bankruptcy Lawyer
June 25, 2010 By
Very few things are as unpleasant as filing bankruptcy, but things may worsen if you have selected a wrong bankruptcy lawyer to help with your specific bankruptcy case. Many people think that every bankruptcy lawyer is equally efficient, which is not true. Especially when you consider the fact that the bankruptcy laws are not exactly same in every state, you will have to make sure that the bankruptcy lawyers you have selected is well versed with the specific laws associated with the specific states. You very well know that the filing bankruptcy is a complex process and the least you want is not just superior but the best legal services. Therefore, make sure that you keep in mind the following things while you are doing your research to select the right bankruptcy lawyer to help with the bankruptcy filing procedure.