If you use a enterprise in your personal name, somewhat than as a company or limited liability firm (“LLC”), you can nonetheless operate that enterprise after you file underneath Chapter thirteen. If you file under Chapter 7, your corporation must be discontinued. Melvin & Melvin has been representing shoppers in Bankruptcy circumstances since 1920.
In most Chapter thirteen bankruptcy circumstances, all or the majority of your unsecured debt is forgiven after the term of your plan is full. Even in rare situation the place one hundred pc of unsecured debt should be repaid, an orderly plan that provides aid from crippling debt nonetheless makes good sense financially. Unfortunately, many people delay filing for bankruptcy as a end result of they have been misled, or have a false impression of how the process unfolds.
Choose Your Debt Amount
She is thought nationally as one of the high chapter attorneys in California, a Professor of Bankruptcy Law, and an expert in her area working with shoppers all through the Inland Empire, Los Angeles & OC. This website is not meant to offer authorized counsel, neither is it supposed to be a solicitation for authorized counsel. NO visitor to this web site should consider this site or the data contained herein to be an invitation to create an attorney-client relationship, and you should not rely on info offered. The information contained on this site is for basic info purposes only. Nothing on this site ought to be taken as legal counsel for any individual case or scenario.
The Chapter Course Of
Generally, if an individual or business qualifies for Chapter 7 or Chapter thirteen bankruptcy, additionally they qualify for Chapter 11 chapter. To learn more about whether Chapter eleven bankruptcy is the most fitted choice for you or your corporation, consult a Baton Rouge bankruptcy legal professional from our law firm. Represented an unsecured collectors committee in four related chapter circumstances filed by the operator of a biodiesel plant in St. Joseph, Missouri.