In the case of a corporation or LLC (limited liability company), the filing of a Chapter 7 bankruptcy case means that the business will not be permitted to continue its activities. The Court will appoint a Bankruptcy Trustee, who will literally shut down the business. In most cases, however, the business has already closed or the owners are contemplating closure. … Read More
What should I bring to meet with a bankruptcy attorney?
Basically, in order to adequately assess your debt problems and prospects for filing bankruptcy, any bankruptcy attorney would need to review the past six months of paystubs, along with as many of your bills as possible. If you are married, then paystubs for both spouses (whether you are intending to file a joint bankruptcy case or not) would be needed. … Read More
Can I modify my mortgage loan while in bankruptcy?
If you’re in a Chapter 13 bankruptcy, it is possible, although tricky, to modify the terms of a mortgage loan during the bankruptcy case. You and your attorney must navigate past your mortgage company’s bankruptcy department and seek out the Loss Mitigation Department of the mortgage company. It is likely that the two departments do not communicate with each other. … Read More
My case has been filed and I forgot to add a creditor.
The general rule in bankruptcy law is that you must list all of your creditors on your bankruptcy schedules that are filed with the Court. If your case has already been filed however, and you realize that you’ve forgotten a creditor, you may amend your schedules by adding a creditor. You will have to pay a court filing fee of … Read More