Converting Chapter 13 To Chapter 7: What You Should Know
October 30, 2023
Converting from Chapter 13 to Chapter 7 in the realm of bankruptcy law is a significant decision that individuals or businesses may consider when facing financial challenges. Chapter 13 bankruptcy involves a structured repayment plan, while Chapter 7 offers a fresh start through the liquidation of assets to discharge debts. Understanding the process and implications…
Is Bankruptcy Discharge Public Record?
October 25, 2023
Yes, bankruptcy discharge records are generally public records. When a bankruptcy case is filed in the United States, it becomes a matter of public record, and various documents related to the case, including the bankruptcy discharge, are typically available to the public. The bankruptcy discharge is an important document that signals the successful completion of…
Learn Why You May Not Need Chapter 11 Bankruptcy
August 12, 2023
Learn Why You May Not Need Chapter 11 Bankruptcy Chapter 11 Bankruptcy is available mostly for large businesses that have the ability to be unaffected by the expenses, time, and legal challenges involved. According to statistics, almost 90% of businesses fail to complete a successful Chapter 11 bankruptcy plan. There are more effective, non-bankruptcy options…
Massachusetts Bankruptcy: Consider The Alternative
April 5, 2023
Massachusetts Bankruptcy: Consider The Alternative As of 2021, Massachusetts’ outstanding debt was approximately $82.5 billion. This includes general obligation bonds, revenue bonds, notes, and other types of debt issued by the state government. In terms of per capita debt, Massachusetts has one of the highest levels in the country, with each resident owing about $12,000.…
A Great Alternative To Michigan Bankruptcy
April 5, 2023
As of 2021, Michigan’s total state debt is approximately $32.4 billion, according to the US Debt Clock. This includes both outstanding debt, which is the amount that the state currently owes, as well as unfunded liabilities, which are the future obligations the state has to pay for pensions and other benefits for its employees. Of…