In the case of the bankruptcy of my business and the payment of creditors, is it better to liquidate the assets or default on creditor lawsuits? If given the choice, it is preferable to liquidate the assets yourself if you maintain control of them. Often, debtors may ask the bank to liquidate the assets which […]

The main difference between Chapter 11 and Chapter 13 is that a Chapter 13 bankruptcy requires that the debtor pay his or her debts within five years. On the other hand, Chapter 11 allows the filer to extend the five-year period unlike Chapter 13. Another difference is how much the Debtor has to pay creditors. […]

There are several types of bankruptcies available to businesses (and individuals) depending on the circumstances and goals of the company’s owners. Chapter 13 Bankruptcies One of the most common types of bankruptcy is Chapter 13. Chapter 13 applies to individuals and sole proprietorships and is generally designed to adjust debt for individuals who also have […]