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By Glenn A. Brown, DMD, MBA on March 7, 2010
What is the difference between a Chapter 7 and Chapter 11 bankruptcy?
Businesses usually have a couple of choices when filing bankruptcy. Chapter 7 bankruptcy is reserved for those companies that are struggling so badly that they cannot remain in business. The business is usually liquidated, then all assets left over are distributed between shareholders and [...]
Posted in Articles, Bankruptcy, Business Bankruptcy, Excerpts, FAQ | Tagged bankruptcy discharge, Business Bankruptcy, chapter 11, Chapter 7 bankruptcy, FAQ
By Glenn A. Brown, DMD, MBA on January 9, 2010
Many people that consider filing bankruptcy make the mistake of waiting too long before seeking legal advice from a bankruptcy attorney. There are simple warning signs you can look out for.
If you are experiencing more than one of these warning signs and have accumulated debt you cannot afford to repay, you may be on the [...]
Posted in Articles, Bankruptcy, Excerpts
By Glenn A. Brown, DMD, MBA on January 7, 2010
There are times when real estate or land changes ownership in such an ambiguous manner that no clear owner or holder of the title is known. In these instances, a quiet title action may be needed in order to establish ownership of the parcel of land and any structures that sit upon the parcel.
A [...]
Posted in Bankruptcy | Tagged quiet title action, real estate law
By Glenn A. Brown, DMD, MBA on October 31, 2009
You’re often reminded of how extremely important your credit (aka FICO) score is. Nowadays, your credit score can determine whether or not you purchase a home for your family, insure your vehicle or take a new job. Yes! That’s correct. Employers are checking the credit scores of potential employees as part of the hiring process. [...]
Posted in Articles, Bankruptcy, Excerpts, Featured | Tagged credit rating, credit score, FICO score
By Glenn A. Brown, DMD, MBA on October 19, 2009
Although Chapter 13 bankruptcy is not the most widely used bankruptcy option, it is preferred by many homeowners that are on the verge of losing their homes. Under a chapter 13 bankruptcy, single or married consumers are allowed to propose a three to five year repayment plan, during which time they can bring their past [...]
Posted in Articles, Bankruptcy, Bankruptcy Myths, Featured | Tagged chapter 13, save your home
By Glenn A. Brown, DMD, MBA on October 5, 2009
An S Corporation is a designation you can seek for your corporation primarily for United States federal income tax purposes. To form an S Corporation, you must first file Form 2553 with the IRS.
According to Wikipedia.com:
“In general, S Corporations do not pay any income taxes. Instead, the corporation’s income or losses are divided among and [...]
Posted in Bankruptcy, FAQ, Featured | Tagged Bankruptcy, IRS Form 2553, S Corporation
By Glenn A. Brown, DMD, MBA on September 18, 2009
Your corporation is considered a separate entity. Therefore, if you file personal bankruptcy it will not affect your corporation as a whole. However, if your personal shares of the corporation are considered your personal assets, those shares could be liquidated as part of your assets, and the proceeds from the sale would be used to [...]
Posted in Bankruptcy, FAQ | Tagged Business Bankruptcy, corporation, debt reorganization, personal bankruptcy