Our Professional Answer: When you file bankruptcy, you discharge every legal obligation you have, other than certain taxes, criminal and civil penalties, and some student loans. Now if you choose to, you can pay any of […]

Our Professional Answer: In situations where you can’t pay the full amount of your non-dischargeable tax debt, in a Chapter 13 five year plan, there are other options. Sometimes, we recommend that you file a Chapter […]

Our Professional Answer: Bankruptcy requires complete disclosure. That means you’re going to disclose all your debts, and all of your assets. If you hold something back from the bankruptcy court, you’ll be considered to a filed […]

Our Professional Answer: Bankruptcy is a very powerful tool. A Chapter 7 bankruptcy allows you to typically discharge almost all of your debt and for most people they keep their assets under the exemptions. Meaning, the […]

Our Professional Answer: If you file for personal bankruptcy and you own a corporation, what you have to understand is that a personal bankruptcy contains everything that you own in it. That property becomes property of […]

Our Professional Answer: When you form a business with other people, sometimes you do it as a general partnership. General partnership has some advantages in that you each all have interest in the business. One of […]

Our Professional Answer: In a Chapter 11, like every other bankruptcy, you pay a filing fee. What’s unique about a Chapter 11 is that you also pay a quarterly fee to the United States Trustee Department. […]