Recent Posts in Bankruptcy Category
Posted on Dec 31, 2018 By The Presser Law Firm, P.A.
If your company has serious litigation, or lender or creditor problems, refrain from hastily filing Chapter 11 bankruptcy. The reality is that most small companies don't survive Chapter 11. More ...
Continue reading "Don't Rush Into Chapter 11 Bankruptcy" »
Posted on Jul 23, 2018 By The Presser Law Firm, P.A.
Involve an Asset Protection Attorney in your planning. The interplay between Asset Protection and bankruptcy law can be extremely complex, and the new bankruptcy laws raise many unanswered questions. ...
Continue reading "What are some precautions for debtors planning bankruptcy?" »
Posted on Jul 16, 2018 By The Presser Law Firm, P.A.
The safest strategy to protect non-exempt assets is to convert unprotected assets into exempt assets. But you must then wait forty months before you file bankruptcy. A well-drafted limited partnership ...
Continue reading "How can I protect my non-exempt assets in a bankruptcy?" »
Posted on Jul 9, 2018 By The Presser Law Firm, P.A.
Bankruptcy automatically stops creditor lawsuits, collections or repossessions. The automatic stay under bankruptcy further transfers pending or future collection and debtor-creditor cases from other ...
Continue reading "Can bankruptcy stop foreclosure of my property or seizure of other assets by a judgment creditor?" »
Posted on Jun 18, 2018 By The Presser Law Firm, P.A.
Bankruptcy won’t extinguish every debt. Debts usually not dischargeable in bankruptcy include: Federal taxes less than three years old and state and local taxes Child support and alimony Student ...
Continue reading "What debts are not dischargeable in bankruptcy?" »
Posted on Jun 11, 2018 By The Presser Law Firm, P.A.
Bankruptcy timing is critical. Debtors frequently file too soon or too late. In either instance, they lose possible benefits from their bankruptcy. Some tips: 1) Collect your tax refunds before you ...
Continue reading "Five timing factors to consider when filing bankruptcy" »
Posted on Jun 4, 2018 By The Presser Law Firm, P.A.
There are several forms of bankruptcy. Each is designed for individuals and businesses in different financial situations. Chapter 7 Chapter 7 Bankruptcy, also known as straight or liquidating ...
Continue reading "What are the different types of bankruptcy?" »
Posted on May 21, 2018 By The Presser Law Firm, P.A.
Bankruptcy may be your best option if you are convinced you can’t win and can’t settle, or if you have few assets to lose in bankruptcy. The mere threat of bankruptcy may be enough to ...
Continue reading "If I am sued, wouldn't it make sense to simply file bankruptcy rather than defend against the claim?" »
Posted on May 14, 2018 By The Presser Law Firm, P.A.
Any debtor with serious financial problems should consider bankruptcy. However, bankruptcy isn’t always the right answer. Bankruptcy is the answer only when you have too many debts to pay from ...
Continue reading "When should you consider bankruptcy?" »
Posted on May 7, 2018 By The Presser Law Firm, P.A.
Bankruptcy is increasingly necessary for the financially-troubled individual and company. More than two million individuals and companies file bankruptcy annually; not a surprising statistic once you ...
Continue reading "The role of bankruptcy in Asset Protection planning" »
Posted on Nov 23, 2015 By The Presser Law Firm, P.A.
In Chapter 7 bankruptcy, the trustee liquidates the debtor’s assets for the benefit of the debtor’s creditors. However, an individual can keep certain property for the debtor to gain a ...
Continue reading "What property is exempt in bankruptcy?" »
Posted on Sep 21, 2015 By The Presser Law Firm, P.A.
Recent bankruptcy law changes have expanded the lawsuit protection for IRAs. The new rules protect IRA rollovers from tax-qualified plans, regardless of where the IRA owner resides. The new bankruptcy ...
Continue reading "Does bankruptcy change my retirement plan's protection?" »