Bankruptcy
Business Bankruptcy: Frequently Asked Questions
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 [...]
Are you on the Verge of Bankruptcy? 5 Warning Signs
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 [...]
What is a Quiet Title Action?
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 [...]
The Advantages and Disadvantages of a Short Sale
Living in a recession is difficult for most people, especially US homeowners that are living from one paycheck to the next. They often wonder how they will keep their mortgage payments current and prevent foreclosure of their property.
Oftentimes, misinformed homeowners are led to believe that entering into a short sale agreement with regard to their [...]
Five Factors that Determine your Credit Score
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. [...]
Five Common Chapter 13 Bankruptcy Myths
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 [...]
Bankruptcy and Your S Corporation: What are your options?
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 [...]
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