small business bankruptcy

Business Bankruptcy Options That Are Common For Small Businesses

Filing for business bankruptcy is never in a small business owner’s plans. Open starting a business, most have high hopes and grand plans that they will be successful, both financially and regarding their public image. Even if the latter is strong, sometimes financial failure happens. When it does, many business owners are faced with the […]

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Preparing for a Bankruptcy Consultation

Tips to Prepare for a Bankruptcy Consultation

Filing for bankruptcy can be a long, difficult process, but if you’re working with the right attorney, it can also be relatively painless. Starting with a bankruptcy consultation with a reliable, informed lawyer is a step in the right direction. Although the Internet offers a treasure trove of general information about bankruptcy, due to the […]

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Another Hit to Retail, Payless Files Chapter 11 Bankruptcy

All of this adds up to traditional retail that was unprepared for shifts in consumer attitudes, rising wages, online availability of everyday goods, crappy community planning, and vulture capital greed. The retail crunch is going to leave a lot of people holding the bag, still with bills to pay, families to feed, and needs to cover.

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What is a Stalking Horse Bid?

Bankruptcy is a complex legal procedure and there are a number of different aspects to each different case. One of those aspects can be the so-called “stalking horse bid.” This type of strategy is an initial bid from an interested company on a bankrupt company’s assets.

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How Bankruptcy can Help Your Credit

To understand just how bankruptcy can help with your credit, first you need to understand how long certain items stay on your credit report. For entries such as late payments, charge-offs, collections, tax liens, judgments, and foreclosures the magic number is seven. These items stay on your report a full seven years. Another troublesome thing is that “hard inquiries” remain visible for two years and can cause your score to dip for as much as six months.

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Bankruptcy vs. Paying Off Debt

There are people who think that bankruptcy is the worst fate ever. It’s not, and nobody gets to the point where they’re considering filing for bankruptcy without a lot of lost sleep.

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Do You Need an Attorney to File Bankruptcy?

Now, as to the DIY “kits” – usually forms and a bare-bones instruction book – and software that’s out there purporting to be an alternative to filing your bankruptcy. Even if your robolawyer is this guy, I don’t think it’s going to work.

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