Posts by On Behalf of Giddens & Gatton Law, P.C.
To thwart debt-relief scams, contact a proven bankruptcy attorney
It is likely that some — perhaps many — of our readers across New Mexico have been on the receiving end of scam-oriented pitches promising to help them with financial challenges relating to credit card debt, student loans, medical outlays, mortgage exactions and other matters. It is a sad and often confirmed reality that fraudulent…
Read MoreCompany announces Chapter 11 filing, looking for buyers
Although not a firm fixture and long-tenured business enterprise across the entire country, Hasting Entertainment Inc. is certainly a well-known commodity in many states, including in New Mexico, where its retail stores selling music, movies, video games and additional merchandise operate in many locales. Reportedly, Hastings and its parent company, Draw Another Circle, are currently…
Read MoreHeavy debt load weighing you down? You’re far from alone.
If you’re a New Mexico resident struggling with debt that seems to be spiraling out of control, you might think that your situation is uncommon. It’s not. In fact, people from all walks of life in New Mexico — and many millions of Americans across the United States — are frustrated and worried by debt-related…
Read MoreSome bankruptcy realities not widely perceived or appreciated
People often hear that filing for bankruptcy will shoot holes in their credit and materially straitjacket their economic freedom in the future. Fortunately, this isn’t true. At the very outset, a good indicator that it is not is bankruptcy’s prominent mention in the U.S. Constitution and its long-recognized status as a legal tool that has…
Read MoreDebt-relief focus: initial considerations regarding bankruptcy
A fresh start. That is often the fundamental hope, as well as motivation, for financially challenged individuals/families and businesses that seek to claw back from punishingly high debt, regain traction and get back on track in their respective personal and professional lives. The goal is understandable, of course, and it is one that has been…
Read MoreCritical Decisions on Business Formation in New Mexico
One of the ironic aspects of this period since the financial crisis of 2008 is that, despite the difficulties people who lose their jobs have had in finding new employment with established companies, there have been record numbers of startups all over the country and New Mexico itself has not been excluded. When starting a…
Read MoreImportant Step When Starting A New Company
One of the most important steps in starting a new company is determining the type of business entity to form: an individual proprietorship, a partnership or a type of corporation. In New Mexico, you can form one of three types of partnerships: General partnership Limited partnership Limited liability partnership As for corporations, you can form…
Read MoreMASTER LIMITED PARTNERSHIPS TAKING OFF
Just over three years ago, entities known as Master Limited Partnerships (MLPs) were devised primarily as corporate entities which own and operate certain energy enterprises. Able to be traded on public exchanges, the partnerships provide those who own interests in them to have a high degree of liquidity but avoid the tax consequences of paying…
Read MoreWill Chapter 11 Bankruptcy Help My Business?
So, you’ve explored the alternatives to bankruptcy and they don’t work for you or your business. Now you need to ask yourself, “Will Chapter 11 Bankruptcy Help My business?” First and foremost, it can enable your business to survive in the midst of financial hardships. A chapter 11 bankruptcy filing automatically stays all debt collection…
Read MoreTax Debt: Top 5 Things to Know about Taxes and Bankruptcy
Tax Debt and Bankruptcy It is not unusual for people find themselves in a debt situation that has gotten out of control. And if you are struggling financially, the last thing you need is tax debt and the very real possibility of dealing with the IRS. In general, there are 5 things you need to…
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