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(And One Good Reason Why You Should) Do you have a business that is in a corporation? Is it failing and you think you need to file a bankruptcy case to get rid of the business debts? Don’t! Why shouldn’t you file a bankruptcy for a corporation? Let me count the ways: No Discharge of [...]
Leases are their own animal under the bankruptcy code. They are neither secured debt, nor unsecured debt. They get their very own schedule, schedule G. And the Bankruptcy Code provides that leases can be assumed or rejected. Rejection, as you might have guessed, means nope, not interested, take your leased property back, don’t [...]
You may run an incorporated, or, unincorporated, small business. A corporation that wants to keep operating has to file for Chapter 11 to get bankruptcy relief. Individuals may file also; you do not have to be a corporation to file for Chapter 11. You may own and rent a bunch of houses, operate a store, [...]
Bankruptcy is in the Bible. In fact, there are plenty of blog posts here on Bankruptcy Law Network about what the Bible says about debt. Kurt O’Keefe’s “Is Filing Bankruptcy a Sin?” is just one of many posts. Most of these posts discuss the Bible and the morality of bankruptcy or apply particular Biblical principles [...]
