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New Bankruptcy Legal Questions

Can I sell my business after my Chapter 11 plan was confirmed?

If you filed for Chapter 11 bankruptcy protection (re-organization) and you ended up getting your bankruptcy plan confirmed by the court, there is nothing preventing you legally from selling your b

E.M., Member, California Bar answered 22 hours ago

Which type bankruptcy should I file for?

You can file Chapter 7 bankruptcy.  Chapter 7 is straight liquidation which eliminates your debts.  You will be able to keep your personal belongings because there are various categories

S.L,. Member, California Bar answered 3 days ago

Should I file a Chapter 13 Bankruptcy?

Here is what the Federal government says: Chapter 13 offers indi

M.T.G., Member, New York Bar answered 3 days ago

If my 21 year old son lives with us, does his SSI need to be included mine and my husband's income for the means in our Chapter 7?

Most likely your adult son's social security income which is taxable income to him as an adult does not need to be included in your and your husband's income with respect to your Chapter 7 bankrupt

E.M., Member, California Bar answered 3 days ago

Is it true that a company that refuses to accept a payment towards a debt, in part or whole, thereby releases interest in said debt?

No, unfortunately, it is not accurate. Once you are in default on a debt, a creditor is entitled to insist in payment in full of all amounts you owe. They are not obligated, once you default, to ac

SJZ, Member, New York Bar answered 3 days ago

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