Bankruptcy

Facing financial distress is a challenging situation for any small business. In some cases, Chapter 7 Bankruptcy becomes a viable option for business owners seeking relief from overwhelming debts. When considering this route, one of the pressing concerns is the...

An entrepreneur may have felt the financial pinch of a failing business long before they started considering the closure of their company. Entrepreneurs often invest a huge amount of their personal resources into their businesses and may limit their personal income...

The Chapter 7 bankruptcy process allows those with average or below-average income and significant personal debt to eliminate some of their financial obligations. The applicant uses their average income, adjusted for certain expenses, to determine if they qualify for...

Chapter 7 is a form of personal bankruptcy that can serve as debt relief for individuals and small business owners overwhelmed with payments with which they are struggling to keep pace. Also known as "liquidation bankruptcy," Chapter 7 can temporarily excuse you from...

Bankruptcy does not have to ruin your credit score. Though you might suffer from a temporary penalty, you can take steps to improve it in the short and long term. Unfortunately, damaging your credit score is much easier than increasing it. Never give up on improving...

When financial hardships become unbearable, bankruptcy may offer the solutions and protections you need. In addition to discharging debt, hundreds of thousands of Americans benefit from all the additional ways that Chapter 7 bankruptcy can help them. There is a lot...

For many small business owners, their personal finances and the financial strength of the organization are one and the same. Unfortunately, numerous circumstances can lead them down a perilous path. From divorce and a down market to medical emergencies and a global...

When overwhelmed by debt, it may seem like there is no way out. You may be dealing with debt collectors calling and creditors sending you notice of various types of collection efforts, such as wage garnishment. While it may seem like a hopeless situation, there is...

Most Kentucky consumers use credit cards, but this form of debt can lead to serious financial struggles. Overuse can lead to credit card debt that a consumer may not be able to pay on his or her own, and these problems can affect other areas of one’s financial life as...

Bankruptcy laws help U.S. citizens recover from financial hardship. This government system helps give people a second chance by mitigating debts and building a repayment plan. To do this properly, those filing for bankruptcy must first undergo a financial evaluation....