15 key things to know before filing for bankruptcy

It doesn’t matter whether you file for bankruptcy “pro se” (on your own, without a lawyer) or you get a guidance from a professional bankruptcy attorney, it’s always better to know all the facts, rules and potential threats to avoid unexpected and unwanted consequences. Here are the TOP-15 facts everyone who file for bankruptcy shouldContinue reading

Rich and famous who went bankrupt!

Contrary to common belief bankruptcy is faced by many famous and wealthy people too. Nothing is guaranteed in life and celebrities also know how to suffer from financial hardship, moreover, their fall hurts much more, because they fall from highest heights of social and financial peaks. Hundreds of cases of bankruptcy where well-known people areContinue reading

Top 6 signs it is time file for bankruptcy

Life can be tough and unpredictable whatever optimistic you are. Seeing your future bright and wealthy is a good thing, but being realistic about the current financial situation is even better. Bankruptcy is unfairly perceived as a dead end in terms of financial and social life, while it is a totally wrong idea. Filing forContinue reading

Chapter 12 bankruptcy explained

One of the least used bankruptcy Chapter in the USA is Chapter 12. It has a very narrow range of types of debtors who is eligible for this Chapter and we will describe it in details in our review. Chapter 12 was invented by the Congress after many farms and fisheries faced severe hardship inContinue reading

Chapter 11 bankruptcy: an overview

Chapter 11 is one of the most popular among business entities, as it was designed especially for financially drowning business corporations. Chapter 11 is named after the Bankruptcy Code 11 and it allows businesses reorganize their debts, obligations, business processes, and assets in order to keep the business afloat. Chapter 11 for business basically playsContinue reading

All about Chapter 9 bankruptcy

Chapter 9 bankruptcy stands out of a crowd as it is designed only for municipalities. If the certain municipality faces financial hardship and is unable to meet its obligations, such municipality may file for bankruptcy under the Chapter 9. The reason for filing for bankruptcy is to become protected from the municipality’s creditors and theirContinue reading

The TOP myths, benefits, and risks of filing for bankruptcy

We have collected the most common and controversial myths and opinions about filing for bankruptcy to finally make it clearly explained. So, if you are still in doubts whether you should file for bankruptcy and the roots of the doubts lie in a lack of unbiased information, our review will come in handy.     Continue reading

Bankruptcy Chapters and their main features

Bankruptcy is a legal process of debt relief that allows individuals or business entities cancel or reorganize their financial obligations. Many see bankruptcy as a non-acceptable or even dreadful solution due to social and financial complications it leads to. However, for the majority of desperate debtors, bankruptcy may become the only reasonable way of gettingContinue reading

Filing for bankruptcy: avoid mistakes and get your petition approval!

Filing for bankruptcy is sometimes a long and stressful process, requiring your full attention and accuracy in everything: from filling the forms to calculating the income, expenses, and debts. Needless to say, but a single mistake may cost you a refusal from the U.S. court. As a result you will be banned from the possibilityContinue reading