Browse through our Bankruptcy Video FAQ for the answers to the most common bankruptcy questions. Click the ‘tags’ dropdown to browse through the different categories.

June 22, 2017

Who can use Chapter 13?

Our Professional Answer All people can use Chapter 13, businesses cannot. The restrictions on filing Chapter 13 are how much unsecured debt you have and how much secured debt you have. Consult your attorney for the […]
June 22, 2017

When will I be discharged from bankruptcy?

Our Professional Answer After you file a bankruptcy, the process is usually very predictable. If you file a Chapter 7, there is a 341 meeting with creditors with the trustee about a month later. Typically, within […]
June 22, 2017

Who will know about my bankruptcy?

Our Professional Answer Generally, all bankruptcy filings are in the public record. However, there is no newspaper publication on a regular basis of every bankruptcy filing. If somebody wants to know if you filed, they’re going […]
June 22, 2017

Why Chapter 13?

Our Professional Answer While Chapter 7 is called a Liquidating Chapter. If you have equity in your home or you’ve assets which you want to keep, you file a Chapter 13. Chapter 13, you file, you […]
June 22, 2017

When must I register my business in more than one state?

Our Professional Answer If you have a business that does business in states, other than where the company was set up, you should typically register them as foreign corporations in that other foreign state. It allows […]
June 22, 2017

When should I file tax returns if I am going to file bankruptcy?

Our Professional Answer If you’re going to file a bankruptcy, you are going to need to have all of your taxes filed for at least the last three years. Now, if for instance, you have to […]
June 22, 2017

Who is an equity security holder?

Our Professional Answer When a business files for bankruptcy, it still has shareholders. Those shareholders in the normal sense were the equity security holders, meaning, they owned equity a part of the business. In a bankruptcy, […]
June 22, 2017

What should I wear to the 341 hearing?

Our Professional Answer A 341 Meeting of Creditors, is a meeting with you and the trustee and your bankruptcy attorney will attend with you. It is a casual meeting. You should dress in your normal daily […]
June 22, 2017

What should I include on my assets schedule for bankruptcy?

Our Professional Answer Bankruptcy is a very important and very powerful tool to discharge your debts and restructure your finances. But it requires that you be forthright. We will ask you about your assets and your […]