As a business owner facing bankruptcy, you are worried about your existing contracts. These agreements represent more than just business transactions. They are commitments you have worked hard to establish. Now, as you navigate financial distress, you are probably...
For many Americans, owning a car is a necessity. So, when considering filing for bankruptcy due to financial hardships, it is only fitting to worry about whether this action might prevent you from purchasing a vehicle. The good news is that bankruptcy does not...
As an Ohio farmer, you face unique financial challenges. Crop prices change, and the weather is unpredictable. When debts pile up, you might think personal bankruptcy is your only choice. However, you have other options, including Chapter 12 bankruptcy and debt...
When you file for bankruptcy, an automatic stay goes into effect. This legal protection prevents creditors from pursuing collection activities against you. However, some creditors may still attempt to collect debts. When they do, they knowingly or unknowingly violate...
Bankruptcy can offer individuals and small-business owners a much-needed fresh start. Chapter 13 bankruptcy is one strategy that can help you restructure your debts and create a repayment plan that could last three to five years. For small-business owners, Chapter 13...
Establishing a sole proprietorship is a cost-effective and straightforward way to set up a business. However, the legal ease of having no legal separation between you and your company also brings a significant financial risk. Sole proprietors bear personal...
When filing for Chapter 13 bankruptcy, individuals may wonder what role the trustee plays in the process. As a neutral third party, the trustee plays a vital role in overseeing the repayment plan. But what exactly does the trustee do, and how do they impact the...
Filing for bankruptcy can be a challenging and daunting task, but it is not the only step in the process. Before filing, individuals must complete a course on credit counseling, which is a crucial step in getting back on track. But what exactly does credit counseling...
As a small business owner in Ohio, managing financial struggles can be overwhelming. With debt piling up and creditors knocking on the door, the thought of bankruptcy may seem like a daunting reality. But what if there was a way to emerge stronger on the other side,...
Running a small business comes with its own set of challenges. Financial hurdles can sometimes seem impossible to overcome. But did you know that bankruptcy could be a strategic tool to help you turn things around? Bankruptcy is not just about shutting down; it is...