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The bankruptcy case for small businesses is referred to as a “Subchapter V” (pronounced “Subchapter five”) bankruptcy or Chapter 11.  It was established recently to provided small business corporations and LLCs access to bankruptcy reorganization.  Even the “simplest” traditional Chapter 11 bankruptcy typically requires an investment of attorney fees and costs of no less than $40,000,

If you can’t pay your debts, filing for bankruptcy might be the right move to make. In 2022, there were more than 4,400 bankruptcies filed in the Miami United States Bankruptcy Court across all chapters, including Chapter 7, Chapter 11, and Chapter 13 filings. When your debts, whether they be mortgages, bank loans, credit cards,

According to the Administrative Office of the U.S. Courts, nearly 612,561 business entities and individuals have filed for bankruptcy in the last couple of years. Bankruptcy is rightly seen as usually being the last appropriate option for people and their businesses to take to manage their debts. Bankruptcy is a federal forum that allows debtors

Bankruptcy is a federal court proceeding in which a trustee and a judge have great power over the financial life of a debtor that files for bankruptcy protection.  Bankruptcy is available to individuals, married couples, corporations, and limited liability companies.  Bankruptcy relief comes in various forms according to different chapters of the Bankruptcy Code.  That

Most debtors that file bankruptcy in Miami opt for Chapter 7 or Chapter 13. Which one is right for you depends on many factors  Read on to understand the differences between the Chapters 7 and 13 and identify some of the considerations that will help you determine which is right for your situation. Understanding Bankruptcy

In Florida, property owned by a married couple is presumed to be owned as a Tenancy by the Entirety.  Tenancy by the entirety is a type of joint husband and wife ownership of property that safeguards property from creditors of either spouse, but not from a joint creditor of both spouses. Florida is one of

One option for funding higher education expenses is using private student loans. About 7.3% of all student loan debt in the US comes from private loan borrowing.  Many students rely on private student loans to cover the ever rising costs of higher education, including classes, fees, and living expenses, and many mitigation options available to

Many times bankruptcy isn’t the outcome of frivolous spending, but the inability to keep up with increased living costs, irregular salaries, and accumulated debts. Our governments’ responses to COVID pandemic caused millions of Americans to lose their jobs, and made it difficult for them to pay their debts.  However, the federal government then passed the

According to data on US bankruptcy filings, Florida had the second-highest number of Chapter 7 filings in 2021, a trend that seems to persist in 2022. While declaring bankruptcy doesn’t sound pleasant, it’s not a black-and-white issue — it can benefit consumers, but it also comes with significant downsides. By filing for Chapter 7 bankruptcy

Chapter 7 bankruptcy is the most common type of bankruptcy filed by consumers.  In fact, in Florida, 72% of all bankruptcy filings in 2021  were for Chapter 7. Financial challenges can happen to anyone.  If you are struggling to pay off debts, you might be wondering whether filing for Chapter 7 bankruptcy is the best