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How To Keep Your Home Through a Bankruptcy
There are ways to keep your home through a bankruptcy, but they need to be done within the guidance of a qualified bankruptcy attorney. There are routes for home protection through Chapter 7 or Chapter 13, but both need to be done with great care.
What Happens When a Small Business Files for Chapter 7 Bankruptcy?
Chapter 7 bankruptcy can affect small businesses in radically different ways. Especially if the owner has a personal guarantee in the company’s debt, then the filing could trigger the pursuit of said person’s personal assets.
What Happens When a Business Files for Chapter 11 Bankruptcy?
Although Chapter 11 bankruptcy offers significant protections for struggling businesses, the resulting reorganization may not be worth the time, effort and money involved. It’s important to understand what actually happens through the filing to make sure it’s right for you and your business.
What Happens After Filing for Personal Bankruptcy?
After filing for personal bankruptcy, you’ll be granted the protection of the automatic stay. From there, the court will assign your case a trustee and that person will organize a Meeting of Creditors to alert them of your filing.
Rebuilding Personal Credit After Personal Bankruptcy
Personal bankruptcy affects an individual’s credit score in a variety of ways. However hopeless it may seem, there are responsible ways to begin building credit again almost immediately. Most importantly, stay on time and consistent with any and all repayments.
How Does Business Bankruptcy Work?
There are three main types of business bankruptcies and they have wildly different effects on the owner and the business. Whether you’re looking at Chapter 7, 11, or 13, you’ll want to consult a professional bankruptcy attorney to learn more about which option is best for you.
