By Glenn A. Brown, DMD, MBA on September 10, 2009
Whether or not your business bankruptcy will affect you personally depends on the type of bankruptcy you file.
If you file chapter 7, the shareholders of your corporation (including you) could lose your stock values if the stock shares are liquidated with the corporation assets.
If you choose to file chapter 13 bankruptcy, the shares of the [...]
Posted in Bankruptcy, Business Bankruptcy, FAQ | Tagged businsess bankruptcy, chapter 11, chapter 13, chapter 7, debt reorganization
By Glenn A. Brown, DMD, MBA on August 6, 2009
Although bankruptcy is not the right solution for every consumer or business owner, it may be for you. If you’re suffering from severe financial hardship, are unable to pay your bills or trying to prevent foreclosure on your home, you may find this debt relief option very beneficial for your situati0n.
Here are 3 [...]
Posted in Articles, Bankruptcy, Featured | Tagged chapter 11, chapter 13, chapter 7, file bankruptcy
By Glenn A. Brown, DMD, MBA on February 23, 2009
Here’s a funny Saturday Night Live video clip, “Don’t Buy Stuff you Cannot Afford”, to lighten up your day.
Posted in Bankruptcy | Tagged debt, SNL
By Glenn A. Brown, DMD, MBA on February 17, 2009
Chapter 7 bankruptcy (aka straight bankruptcy) is typically the best option for consumers with little or no income and assets, or whose income will not cover their necessary living expenses or their debt.
In order to determine whether you can file for chapter 7 bankruptcy you must first undergo a bankruptcy means test. This test will [...]
Posted in Bankruptcy | Tagged Chapter 7 bankruptcy, fresh start, straight bankruptcy
By Glenn A. Brown, DMD, MBA on February 4, 2009
Today, an increasing number of consumers are considering bankruptcy as a debt relief option. If you are one of those consumers, it is imperative that you try to avoid common mistakes that can result in your bankruptcy case being dismissed.
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Posted in Bankruptcy | Tagged Bankruptcy, common mistakes
By Glenn A. Brown, DMD, MBA on January 4, 2009
Our firm receives this question pretty often. So, we’ve decided to answer it on our blog.
Yes. Filing for bankruptcy will affect your credit rating. Initially, you may see a sharp decline in your FICO score. Once your debt has been discharged, and you begin making on-time payments and wise financial decisions regarding your credit, you [...]
Posted in Bankruptcy, Blog | Tagged credit rating, FICO score
By Glenn A. Brown, DMD, MBA on December 24, 2008
The Washington Mutual bank failure is the largest in U.S. history. WaMu filed Chapter 11 Bankruptcy in the U.S. Bankruptcy Court of Delaware. The company has listed $4.5 billion in assets, including valuable artwork. WaMu is now facing claims totaling $7.8 billion filed on behalf of shareholders, businesses, and individuals.
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Posted in Bankruptcy | Tagged Chapter 11 Bankruptcy, delaware, wamu