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The Real Costs of Delaying Bankruptcy

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Cash strapped debtors often delay getting bankruptcy advice from an attorney because they think they can’t afford a lawyer. Speaking from decades of experience working with struggling debtors, I can tell you that you can not afford to wait. Why drain thousands of dollars from your savings and/or retirement accounts just to postpone the inevitable? It doesn’t make a lot of financial sense; yet, panic or lack of adequate information about sound choices motivates people ...

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Can Individuals File Chapter 11 Bankruptcy?

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Chapter 11, also known as Reorganization, is used primarily by businesses, but individuals can file for Chapter 11 Bankruptcy. Reorganization is a good option for corporations, partnerships and sole proprietorships that want to keep doing business.

In Chapter 11, debtors seek to restructure their debts either by reducing the amount of the debt or by extending the time to repay. Chapter 11 also may require liquidation of the debtor’s assets.

The ...

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Montana Small Business Bankruptcy: Who is Responsible for the Debt?

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I get this question regularly from Montana small business owners who are considering small business or personal bankruptcy. The answer is: it depends.

For many Montana small business owners the line between personal and business finances is often blurry. Montana business owners are especially hard working folks who put their blood, sweat and tears into their businesses. If there is one thing I’ve learned in ...

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