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Business FAQ

What exactly is bankruptcy? Will it wipe out all my debts?
A proceeding in a federal court in which an insolvent debtor's assets are liquidated and the debtor is relieved of further liability. Read More

What is the difference between secured and unsecured debt?
Secured debt are obligations protected by collateral or real property. Read More

Who can file bankruptcy?
Any person or business can file for bankruptcy. There is no minimum amount of debt required. Read More

How often can you file?
You can file bankruptcy as many times as you wish, but your debts can only be discharged every 8 years. Read More

What is a joint petition?
A joint petition is the filing of a single petition by an individual and the individual's spouse. Read More

What can I keep if I file bankruptcy?
It varies from state to state, and will also depend on how long someone has lived in the state that their bankruptcy case was filed in. Read More


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Did you Know?

Exceptions to bankruptcy
It's very important to consider bankruptcy exceptions when you are filing for bankruptcy, you must understand exactly what the term means.
 Read More

Can bankruptcy stop a foreclosure?
Foreclosure, in simplest terms, is the process by which the bank or mortgage company that has a lien on a piece of real property takes that property back.
 Read More

Chapter 7 Bankruptcy Discharge
The primary purpose of bankruptcy court is to discharge certain debts to give a debtor a fresh start. A bankruptcy discharge releases the debtor from personal liability for certain specified types of debts.
 Read More


Business News

Chrysler to file for bankruptcy after talks fail
General Motors filed for Chapter 11 bankruptcy protection Monday as part of the Obama administration's plan to shrink the automaker to a sustainable size. Read More

Gambling ship now in bankruptcy
Twice a day for much of the past five years, the SS Horizon's Edge boarded hundreds of people, shoved off from its pier in Lynn Harbor, and motored 3 miles into the Atlantic.
Read More

Riverside Real Estate files for bankruptcy
The company’s assets and liabilities are estimated at between $1 million and $10 million. Read More