Blog

1
sabatha asked:

We are forced to close our business due to losing our main customer. We only owe one very large bill which is to an attorney whom we have already paid a lot of money to. We do not have the money to pay him after paying employees and contractors. Would we have to file bankruptcy? or if not, will we some how still have to pay him even after we close our doors?

More on Should we file bankruptcy with our S corp?

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1
Cheryl A asked:

I know someone who just declared Chapter 13. They say property and business is Worth one figure but there is no way it is worth that now. Does the trustee get appraisals.

More on What if a person put a value on their assets on the bankruptcy forms and the property is in no way worth that?

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2
working out of debt asked:


bankruptcy is not an option for me. I dont like the thought of doing that.

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7
Ana Stasia Nika asked:

If they don't – and follow through with giving the UAW a much bigger share then they are entitled to – what will this say for the future of business and private contracts in our country?
Interesting – I wonder where all the usual O'bots are – wonder why they are not jumping in to defend this, crickets.

More on Do you think the bankruptcy court will follow the letter of the law in regards to Chrysler?

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7
BIILC asked:

After the marriage I also must set up a payment plan with the IRS for back 941 tax's. Is there any way this can effect my fiance? Do I need to wait for the discharge or is it ok to be married as long as I have filed?
I am not filing business, only personal per my attorney. Can any business creditors or the IRS go after my fiance or hurt her credit after we are married?

More on I have recently filed for chapter 7 bankruptcy. I am also engaged to be married in 3 weeks. ?

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3
Nokimoto asked:

Besides the obvious credit damage for number of years, what are some of the other damaging consequences of a bankruptcy filing that no one would know unless they have filed themselves?

More on Who has personally filed bankruptcy?

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4
Lana asked:

As a result of a bad business venture, my husband's credit is tarnished and he has about $25,000 in unsecured debt. However, all his debts are personal and my credit is fine. Am I required to file with him?

More on Are both spouses required to file for bankruptcy?

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2
chauntecleer asked:

Last year I finally achieved a positive net worth for the first time in my adult life (I'm 34). I am not prolifigate or materialistic but due to some unavoidable personal circumstances I've spent the last 8 years paying off almost $200K in unsecured debt. This is SUCH a relief and I have to give myself credit for being disciplined about paying it off. But here's my dilemma.

More on what is a "normal" amount to have saved in a year?

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3
kittycat asked:

John McCain, exactly like George Walker Bush, and George H.W. Bush, insists that tax relief is the only way to help Americans afford many of lifes expenses, such as health insurance. If I am right, in order to qualify for tax relief, a citizen MUST first have large amounts of money available, to PAY full price, out of their own pocket, for coverage. AFTER the citizen pays this money out, receipts are, then, attached to tax returns. The government then decides if, and how much, to allow a citizens taxes to be reduced, based upon type of policy, and how much tax is owed. But, how does this help the 150 million sub-poverty level American workers, who have seen wages plummett, from $30.00+ per hour, with industrial employers, such as Caterpillar, down to $5.00 per hour, at businesses such as Walmart, and McDonalds? These "jobs" pay such low, sub-poverty level, wages that citizens have NO tax liability. How can tax relief help those who have no tax debt? How can 150 million citizens be expected to pay out of pocket, for insurance premiums, when these people must rely on government assistance, to meet rent, and utilities, while using food stamps for meals? I wish John McCain would address THIS, in the debates. Dont you????

More on What good are tax rebates?

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