Understand the Relationship Between Assets and Debts in Bankruptcy

Understand the Relationship Between Assets and Debts in Bankruptcy

Rather, understand the lack of a relationship between assets and debts. This is a fundamental concept to grasp in bankruptcy. It is easiest to demonstrate this concept with a Chapter 7 bankruptcy. Two important goals in the bankruptcy process are … Continue reading

Using Temporary Restraining Orders to Protect Personal Guarantors of a Business

Here is a common scenario. The founders of a company get a loan for their business and give a lien to the lender on the piece of property owned by the company. The lender requires a personal guarantee from the … Continue reading

Protecting Assets and the Risk of Voidable and Fraudulent Transfers

If bankruptcy or getting sued is a possibility, it is natural to worry about protecting your assets. A mistake made by some is moving assets out of their name to put it beyond the reach of a plaintiff or creditor. … Continue reading

Discharging a Willful and Malicious Debt in Bankruptcy

Bankruptcy is powerful. It permits you to discharge, i.e., get rid of, a lot of debts. In bankruptcy, we discharge credit card debt, old taxes, personal loans, car loans and leases, and the list goes on. The bankruptcy code also … Continue reading