Most of the time, there is no reason to file a Chapter 7 bankruptcy for a corporation or limited liability company. (We’ll call them both “companies” in this post). However, there are some instances where filing Chapter 7 for the company makes good sense. Normally, bankruptcy is about one thing: the bankruptcy discharge order. The [...]
chapter 11
Chapter 11 small business part one discussed some of the reasons businesses lose money, and the start of the analysis business owners need to do before deciding if a small business Chapter 11 makes sense. So, you figure out what it cost to run the business every month, then, you know how much you need [...]
image credit: dreamstime Chapter 11 bankruptcy (link to information on website of Detroit Michigan bankruptcy attorney Kurt OKeefe) is not just for individuals and for profit corporations. As with Chapter 7 and Chapter 13 bankrupty cases, filing Chapter 11 stops foreclosure, garnishment (explained by southern Oregon bankruptcy attorney Karen Oakes) and any other collection activity [...]
In these days of old-line financial powerhouses filing for bankruptcy and continuing questions about the economic stability of banks and mortgage companies, we are often asked what happens if your mortgage company goes bankrupt? The answer is actually pretty simple and straightforward. »crosslinked«
