By Robert I. Feinberg | Published February 3, 2025 | Posted in Bankruptcy | Tagged Tags: Bankruptcy, Partnership, Sole proprietorship | Comments Off on Filing for Personal Bankruptcy When You Own a Business
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Filing for Personal Bankruptcy When You Own a Business
Personal financial struggles can happen to anyone, even successful business owners. If you’re thinking about filing for bankruptcy as an individual, you might be wondering what effect, if any, taking such a step will have on your business. Depending on the type of business structure and bankruptcy chapter, the implications can vary significantly. Sole proprietorships Read More
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What Happens to a Tax Refund in a Chapter 13 Repayment Plan?
Establishing a debt repayment plan through Chapter 13 bankruptcy might be the right solution if you’re earning a steady income and are concerned about keeping your home. This option is often used by people who have fallen behind on their bills due to a medical problem, divorce or temporary unemployment, and cannot catch up with Read More
Read MoreBill Proposes to Make Filing for Bankruptcy Easier
Rules relating to bankruptcy are always under scrutiny from lawmakers, as well as interest groups representing both debtors and creditors. In the past several years, we’ve seen the institution and expiration of changes prompted by the COVID-19 pandemic and the 2019 introduction of Subchapter V proceedings under Chapter 11. Some members of Congress are looking Read More
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“Buy Now, Pay Later” Services and Chapter 7 Bankruptcy
Financial distress makes it difficult for millions of Americans to pay full price up front for the items they need, so it is no surprise that Buy Now, Pay Later (BNPL) services are growing in popularity. BNPL companies such as Klarna, Afterpay and Affirm allow consumers to obtain goods or services upfront and pay for Read More
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