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Category Archives: Chapter 7

Deciding Whether Chapter 11 Is Right for Your Business

chapter 11 b

In the face of financial distress, businesses can find themselves weighing the options available to address their operational challenges. Among these options, Chapter 11 bankruptcy stands out as a potential avenue for businesses to restructure their debts and reorganize their operations. This form of relief offers advantages but also involves complexities that necessitate careful consideration. […]

Using Chapter 13 for Relief From Credit Card Debt

Chapter 13 Credit Card Relief Debt

Crushing debt from credit card charges can feel inescapable. Minimum payments barely make a dent, and the stress of looming balances can be paralyzing. If you’ve explored other options and are still overwhelmed, Chapter 13 might be a path to financial freedom. Here is a primer on how this form of bankruptcy treats credit card […]

When Can a Chapter 11 Be Converted to a Chapter 7?

Chapter 11 to 7 Conversions

Businesses under financial distress can pursue a Chapter 11 bankruptcy if they believe they can reorganize and return to profitability. However, as the reorganization proceeds, there may be obstacles that cannot be overcome. In certain circumstances, a conversion to a Chapter 7 liquidation plan may be necessary. A Chapter 11 debtor usually has the right […]

How Exemptions Work in a California Bankruptcy

Bankruptcy Exemptions

One of the most persistent misunderstandings in bankruptcy is that you have to give up your assets to gain a discharge from debt under Chapter 7. The truth is, 98 percent of Californians who file Chapter 7 get to keep all of their property. Remember, the goal of bankruptcy is to help you get a […]

Things You Should Not Do Before Filing for Chapter 7 Bankruptcy

Chapter 7 bankruptcy is a debt forgiveness remedy that allows individuals to discharge most of what they owe creditors, such as credit card debt, medical bills and personal loans. Though some people think of bankruptcy as a last resort, if used effectively it can steer you out of financial straits and set you on a […]

Understanding the Rules for Repeat Bankruptcy Filings

Even after getting a fresh start by filing for bankruptcy, it is possible to fall on hard times again. Whether due to an illness, job loss or something else, you may find yourself needing to consider a repeat bankruptcy. The good news is that you can file bankruptcy as many times as you need to […]

How Courts Evaluate Whether to Convert a Chapter 7 to a Chapter 11

converting chapter 7 to chapter 11 bankruptcy

An individual seeking Chapter 7 bankruptcy protection must demonstrate a lack of disposable income to repay debts, but that isn’t the end of proving eligibility. The bankruptcy code allows a court to convert a Chapter 7 to a Chapter 11 under certain circumstances. This is typically done at the request of creditors who show they […]

What Happens at the Creditors’ Meeting in a Chapter 7 Bankruptcy?

The creditors’ meeting is a required procedure in all Chapter 7 bankruptcy cases. The idea of facing your creditors in person may seem intimidating, but in practice most of these meetings are quick and painless. In fact, even though it is called a creditors’ meeting and they have the right to appear and ask questions, […]

Overcoming the Presumption of Abuse in a Chapter 7 Case

Debtors filing for Chapter 7 bankruptcy are subject to a qualifying “means test.” The purpose of the test is to confirm that the debtor is truly incapable of paying his or her outstanding debts. The means test requires disclosure of the debtor’s income and expenses. If the debtor’s current income is greater than the median […]

Using Chapter 7 to Wipe Out Personal Liability for Business Debt

Many small businesses struggle to stay afloat and eventually reach the point where debt becomes unmanageable. If you are an owner or part owner of a business in that situation, you may be wondering whether you are liable for your company’s debts and whether filing a Chapter 7 bankruptcy can protect you and your personal […]


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