Turning Challenges Into Solutions
When a business is facing unsustainable levels of debt, the business owner may decide that bankruptcy is the only viable option. The company just isn’t making enough money to pay off its debt. With interest, that debt is getting progressively worse. That business...
Even many business owners don’t fully understand the difference between insolvency and bankruptcy or they assume that insolvency is always followed by bankruptcy. While insolvency may lead to bankruptcy, it doesn’t have to. The more you understand about the different...
Farming is not just a job. It’s a way of life. Unfortunately, unpredictable weather, fluctuating market prices and rising operational costs can create financial hardship for farmers. When debts become overwhelming, farmers in Georgia may find relief through Chapter 12...
If you are considering filing for bankruptcy, you might be concerned about the effect it will have on your credit score. Will bankruptcy boost it or see it get worse? The answer lies somewhere in between. You need to accept it will suffer at first Filing for...
Filing for bankruptcy is a difficult decision for any business owner, but it is often a necessary step. One pressing concern may be what happens to your employees. This largely depends on the type of bankruptcy you file for and the route you want the company to take....
Seeing collection notices in the mail and getting phone calls about debts you owe can be a stressful and disheartening experience. When you know you don’t have the money to pay, you may feel helpless and want to find a solution to this issue. One option that you may...
If you own a business and your company and/or personal debts are no longer manageable, you may be wondering whether filing for Chapter 13 bankruptcy is a viable, strategic option. Chapter 13 bankruptcy is available only to individuals, not businesses. However, if you...
When facing financial challenges, business owners may consider liquidating their company. This approach involves complex legal and financial considerations. Understanding the nuances of liquidation and restarting a business can help you navigate this process. What...
You miss a mortgage payment, and you start worrying about foreclosure. You mention to one of your friends that you are concerned that you may lose your home in the future. You know that the foreclosure process takes time, so you will not immediately lose your house...
People who have high debt obligations may find themselves struggling to make regular payments. As a result, the debtor may miss payments, face high interest and late fees and be hounded by debt collectors. All of these issues could go away after filing for bankruptcy....