If you need to file for bankruptcy, then you might be a little overwhelmed. To help make your life a little easier, here is an explanation of Chapter 11 Bankruptcy, which focuses on the reorganization of a business. Why you might need Chapter 11 If your business is in debt and unable to recover on its own, you will need to file bankruptcy. At this point, you have two options: Chapter 7 and Chapter 11.
- In the event that a loved one who was filing for Chapter 13 bankruptcy dies, his or her estate could be charged with legally resolving the case before any assets are distributed. If the estate is not properly handled, creditors could take legal action against the estate to recover payment for the deceased's debts. If you are in charge of handling the estate, here are your options. Change the Filing
- If a person is either not careful or unlucky, it is possible for their debts to become financially crushing obligations. Depending on the type and amount of debt that you owe, it is possible for your creditors to take extremely aggressive actions against you to collect the money you owe. Whether it is repossessing your possessions or garnishing your wages, these actions can be extremely disruptive to your daily life. To end this cycle, you may need to consider filing for the protection of bankruptcy, but if this is not a strategy that you have seriously considered, you may benefit from having the following couple of bankruptcy questions addressed before you meet with your attorney.
- When your finances take a turn for the worse, it can make things extremely difficult and frustrating. Before you know it, you aren't able to pay your monthly bills. Credit card companies, the mortgage lender, utility companies, and doctors are calling your home and asking where their money is. You find yourself feeling like there is nothing you can do. Thankfully, that isn't the case. With a Chapter 7 bankruptcy case, you can put an end to your financial woes and move forward with the fresh start you deserve.
- The Social Security Administration (SSA) eventually denies 53 percent of all claims for disability benefits on average every year. There are numerous reasons why a claim gets denied, but the most common ones are lack of medical information proving a disability (combined with failing to abide by a medical treatment plan developed by your doctor), refusing to cooperate with the SSA requirements, monthly income was too high, and disability wasn't permanent.