Successful professionals, business owners and even those who come from wealthy families sometimes end up struggling financially. All it takes is a change in the local economy, a shift in a particular industry or a job loss for a previously financially comfortable...
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Year: 2024
Why high-income professionals may file for Chapter 13 bankruptcy
There are many different types of bankruptcy available to individuals in an assortment of different circumstances. Many people specifically think of Chapter 7 bankruptcy when they think of individual bankruptcy. Those in specialized industries, including farming and...
4 advantages of filing for Chapter 11 for a trucking company
If financial storms threaten to capsize your Florida trucking business, Chapter 11 bankruptcy can serve as a lifeline. From fluctuating fuel costs to rising insurance premiums, these pressures can push even well-managed operations to the brink. This legal option...
How a Chapter 12 bankruptcy can help a family farm
For many people, agricultural work is more than a source of income. It is a lifestyle and potentially also a family tradition. The home where they live is part of the farm, and every aspect of their daily schedule revolves around the production of specific crops....
How long does debt repayment last in a Chapter 12 bankruptcy?
There are different types of bankruptcy available for people and businesses in a variety of different circumstances. An organization preparing for dissolution because the company has become unprofitable might file a Chapter 7 bankruptcy. There are other options...
What debts can be discharged in bankruptcy?
Filing for bankruptcy is a chance at a fresh financial start. As part of the process, certain debts are discharged so the person who’s filing can get rid of their obligations without struggling to pay them for any number of years. Anyone who’s considering this option...
What is the difference between business and personal bankruptcy?
You likely already know that bankruptcy is available for both individuals and businesses. However, can you differentiate between these two processes of eliminating debt? The obvious difference is that when a person files for bankruptcy, that is personal bankruptcy and...
What should business owners know about bankruptcy?
When businesses face financial hardships, bankruptcy often emerges as a viable option to either restructure debts or close a company in an orderly way. This is true for businesses of all types, including trucking companies, agricultural enterprises and others....