More Articles by Cara O'Neill
Articles 131-140 out of 156
The Differences Between Personal and Corporate Bankruptcy
Bankruptcy is a common tool used by both individuals and businesses. However, personal and business bankruptcies are not the same things and have different rules for the same chapters.
Can I File for Bankruptcy If I Haven’t Filed Taxes?
Your tax returns don’t need to be current when filing for bankruptcy, but you must turn over the last filed return in Chapter 7. By contrast, the Chapter 13 bankruptcy trustee must review the previous four years of tax filings. Learn more.
What Happens to Investment Real Estate in Bankruptcy?
If you own property that you don't use as a residence, you might lose it if you file for Chapter 7 bankruptcy.
Can I Refile If My Chapter 13 is Dismissed for Non-Payment?
You can usually refile a Chapter 13 petition, but not always. Also, expect to overcome new hurdles. For instance, you could lose the automatic stay protection that stops creditor collections.
How Do Bankruptcy Lawyers Get Paid?
Many people get the money to pay the lawyer’s retainer by borrowing from friends and family or by paying the lawyer instead of debts they can eliminate in bankruptcy. Learn more strategies for paying bankruptcy legal fees.
Chapter 7 No-Asset Bankruptcy
Most people file what is often referred to as a no-asset Chapter 7 bankruptcy case, which is a case without any property that the bankruptcy trustee can take and sell to repay creditors.
What Happens to Liens in Chapter 7 Bankruptcy?
A creditor with a lien has rights against the property securing your obligation to pay the money you owe. Learn what happens to liens and secured property in Chapter 7 bankruptcy.
The Clawback Provision and Preferential Transfers
In Chapter 7 bankruptcy, the trustee has the right to take back property or money the debtor improperly gave away before filing. "Clawback" is the term used to describe this power, which allows the trustee to regain assets.
Chapter 7 Bankruptcy for Corporations and LLCs
Filing for business bankruptcy means someone else steps in to liquidate your business’s assets and settle its debts (in this case, the bankruptcy trustee).
Can a Jointly Owned Car be Seized in Chapter 7 Bankruptcy?
Find out if you can lose a car owned by someone else in Chapter 7 and what steps you can take to protect the other owner's interest.