Posts by On Behalf of Giddens & Gatton Law, P.C.
Business Bankruptcy: Not always the Best Way to Save Your Business
Many people hit a wall financially and think that bankruptcy is their only option. However, there may be better options instead of a bankruptcy. A good bankruptcy attorney will help you find out what option is best for you. In this article we will explore alternatives to business bankruptcy. Here are some options you may not have…
Read MoreWhat do I do When I’m a Creditor in a Bankruptcy?
Creditor’s rights are the laws to protect the entitlement of creditors/lenders to collect the money they are rightfully owed. Before recommending a course of action, when a bankruptcy is filed, the creditor’s lawyer will evaluate the specifics unique to the debtor’s bankruptcy and their debt to you (as well as others). Pre-bankruptcy creditors have the…
Read MoreCan I discharge my tax debt in a Bankruptcy?
It depends. It is not unusual for tax debt to send people into bankruptcy. If you find yourself with tax debt you cannot pay you have options. However, not all taxes are dischargeable and figuring out which taxes are dischargeable is confusing and frustrating. Here are three scenarios of real tax problems and how the…
Read MoreWhat do I need to Know before I File for Bankruptcy?
Under the bankruptcy laws, it is acknowledged that, at some time prior to filing for bankruptcy, you formed the intent to file for bankruptcy. Therefore, once you have made the decision to file bankruptcy, continuing to use credit is considered an abuse of your creditors. The 90-Day Rule Under the Bankruptcy Code, as a general…
Read More3 Things To Know About Your Bank Account When Filing Bankruptcy
Under the Bankruptcy Code, you have certain rights and protection as a debtor in bankruptcy. Although limited, your creditors also have certain rights and protections. Your bank is a creditor and banks, credit unions and other financial institutions may take certain actions that could be adverse to your interests, both BEFORE and AFTER you file…
Read MoreMore Answers to Common Bankruptcy Questions
Courtesy of the National Consumer Law Center and the State Bar of New Mexico Do I Still Owe Secured Debts (Mortgages, Car Loans) After Bankruptcy? Yes and No. The term “secured debt” applies when you give the lender a mortgage, deed of trust or lien on property as collateral for a loan. The discharge applies…
Read MoreAnswers To Common Bankruptcy Questions
Answers to Common Bankruptcy Questions Courtesy of the National Consumer Law Center and the State Bar of New Mexico A decision to file for bankruptcy should be made only after determining that bankruptcy is the best way to deal with your financial problems. What is a bankruptcy discharge? One of the reasons people file for…
Read More5 Common Misconceptions About Business Bankruptcy
5 Common Misconceptions about Filing for Business Bankruptcy If you are reading this, more than likely you are a business owner, your debt is piling up and you may be asking yourself: How did this happen? Am I ever going to find my way out? Is saving my business possible? What are my options? This…
Read MoreIs Bankruptcy the Right Option For Me?
Bankruptcy is a choice that may help, if you are facing serious financial problems. Depending on the circumstances, you may be able to cancel your debts, stop collection calls, and get a fresh financial start. Bankruptcy can help you with some financial problems, but does not guarantee you will avoid financial problems in the future. …
Read More4 Alternatives to Filing for Chapter 7 Bankruptcy
If you are reading this, more than likely you have found yourself in an unsustainable debt situation, and you may be asking yourself: How did I get here? How am I ever going to find my way out? What are my options? Or, am I just doomed to struggle to get my head above water?…
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