Until now, the utility of chapter 11 reorganizations for small businesses has been limited. One reason for this has nothing to do with the law. Small business owners often cling to a formerly profitable “business as usual” approach until…
If you are "over-median", then hope for qualifying for chapter 7 bankruptcy relief is not lost (far from it!), but you must complete and pass the dreaded "means test" calculation (form 122A-2).
In Connecticut the short answer is, usually, “no.”
Although many people file Chapter 7 bankruptcy to eliminate credit card debt, a bankruptcy discharge generally erases your personal liability on all debt you owed on the date you filed, including…