Even businesses that are founded on great ideas can fail to be as profitable as their owners intended. While a business owner still believes in his or her idea, the business may fail because of debts to creditors and dwindling assets to cover them. In this situation, a business owner can choose to file for… [Continue Reading]
Divorce and Bankruptcy: A Perfect Storm
Divorce and bankruptcy are two areas of the law that can often overlap, affecting each other in many ways. Depending on which Chapter of the bankruptcy code a debtor files for relief may affect obligations granted in a divorce decree or settlement. When a person files for bankruptcy, “automatic stay” provisions come into play and… [Continue Reading]
