In bankruptcy, a discharge is a term used to describe a debt that doesn't have to be repaid. But not all debts are dischargeable. Those that are include: business loans, unpaid rent and credit card expenses. Debts that cannot be discharged include: some taxes, salaries owed to employees, penalties and fines that have been imposed…
Whether or not you suffer personally from filing bankruptcy to protect your business depends on the chapter you file. If you file chapter 7, you (and the shareholders of your corporation) can lose your stock values if shares are liquidated with the corporation's assets. If you file chapter 13, the shares of the corporation will…
Eminent domain projects are taking off across Pennsylvania. Thousands of homes and businesses are being acquired. In the Sharswood neighborhood of North Philadelphia, crews recently demolished the Blumberg Complex to make space for new developments. 1300+ residents are being relocated -- and the city is using the power of eminent domain to carry out its…
Are you struggling financially in your business? You may have a couple bankruptcy options available to you. Chapter 7 is usually reserved for those companies that are struggling so badly they cannot stay afloat. The business is dissolved, assets are liquidated, and any proceeds from the sale are distributed between shareholders and creditors. Chapter 11…