August 16, 2017

Joint Liability for Debts: An FAQ

I am frequently asked whether spouses have joint liability for debts. This FAQ should help readers gain a basic understanding of the issues to consider, but is not a replacement for a qualified bankruptcy attorney's opinion on your specifics. Q: MY HUSBAND HAS SUBSTANTIAL DEBT THAT HE CANNOT PAY. HE NEEDS TO FILE BANKRUPTCY. DO I HAVE TO FILE WITH HIM? A: I have heard this quite often. One … [Read more...]

Chapter 7 Bankruptcy: Businesses & Individuals

The word "bankruptcy" is heard everywhere, from coffee shops to church bazaars and the evening news. It's clear to me that, despite this general knowledge of bankruptcy, few people understand what it means to file for protection under Chapter 7, Chapter 11 or Chapter 13. Chapter 7 is a liquidating bankruptcy.  It is normally utilized to obtain a “fresh start” for an individual debtor, and, far … [Read more...]