A recessionary economy marked by restrictive consumer spending necessarily translates into a cash-flow problem for smaller businesses. Â Reorganization under Chapter 11 of the Bankruptcy Code could provide the necessary “breathing space,” allowing a small business to get current with its vendors, lower the company’s costs of goods sold, and right-size the business’s balance sheet for [...]
November 2009
When I ask a client how much credit card debt he or she has, I often get a confused look followed by: ” Do you mean just the debt I want to include in my bankruptcy?” or “Do you mean just the debt I am behind on?” or something similar. No, what I mean is [...]
I believe that this may be the toughest Thanksgiving since the Great Depression. With so many people out of work, homeless and seeking assistance for the first time from shelters and food banks it has hard to be thankful. Normally I write about things in a very straight forward and no nonsense manner. However for [...]
The IRS and many state and local tax authorities make it very easy to pay your taxes with a credit card. You should think carefully about doing so, if you may or will be going into bankruptcy in the near future. First, it’s a good idea not to incur any more debt on credit cards [...]
