The bankruptcy law that went into effect in 2005 generally makes it harder for people who file for bankruptcy to have their debts discharged than under prior law, according to CNN Money.

When establishing a business, taxes play a major role in determining which type of entity is created. In the case of sole proprietorships and limited liability companies (LLCs), there are a number of notable differences between the two.

It seems that the best career one could have in this economy is that of a bankruptcy lawyer. With reported unemployment numbers being around 9% and actual numbers being close to 12% it's no surprise that many people in America are having trouble making ends meet. When the economy was roaring af

People tend to avoid bankruptcy for as long as possible because it has a negative effect on credit score. Instead of hiring a bankruptcy attorney some people keep on taking secured loans. In the end when they find out that there in no way to get rid of debt then they realize that they should have fi

A dismissal in a bankruptcy case is an action taken by the court on its own motion. Unlike a discharge, a dismissal does not afford the debtor any protection from creditors or allow the debtor to repay the debts according to a bankruptcy plan. A dismissal leaves the debtor in the same position she w

Business contracts are used to protect all parties entering into an agreementcontract 20309 image by pablo from Fotolia.comIn business, contracts are used to clarify an agreement between two parties and the consequences of breaking that agreement. Should a disagreement occur, the...

Chapter 7 bankruptcy is complex and you need an attorney to help navigate through the system. Read on to learn more.

With over 160,000 nonprofit corporations in Canada, and 19,000 federally incorporated, the Canadian incorporation process needed improvement. The Canada Not-for-profit Corporations Act is a federal law that replaces multiple laws governing nonprofit corporations. Organizations affected by the act in

No one likes the idea of having their home foreclosed. While losing an investment is difficult, it is even more difficult to face the prospect of leaving your memories behind. There's no question that bankruptcy is difficult for homeowners; however, if you're a homeowner facing bankruptcy, you hav

After you receive your bankruptcy discharge, you generally want to leave it untouched. A bankruptcy discharge lifts your obligation to pay your debts. To file an amended exemption after your discharge, you must re-open your case. Although the odds may be slight, if you re-open a closed case, you are

Membership corporation law governs organizations that are created for purposes other than to make a profit. These are generally referred to as religious organizations and labor unions, though other types of not-for-profit organizations have members rather than shareholders.

It has been said that delinquent borrowers can save their homes from being foreclosed by filing for personal bankruptcy. Read on to learn more about the different types of bankruptcy and how filing for bankruptcy affects the home foreclosure process.

Have you decided to file for bankruptcy, but you aren't quite sure if you should utilize a bankruptcy lawyer to handle the proceedings? If this sounds like the situation you find yourself in, then maybe you aren't as informed as you should be about the filing process. Not only are attorney

Filing a bankruptcy petition should include all creditors, both secured and unsecured. If one or more creditors were left out of the listing by mistake or by design, adding more debts may or may not be permitted by the court. When this is necessary, one should know how and when it is allowed.

A business that owns real estate facing foreclosure is in a challenging situation. There are, however, options available to avoid a business foreclosure. By taking a proactive approach to preventing a foreclosure, a business has a solid chance of maintaining ownership of real estate essential to its

Life changes not only affect you emotionally, they also affect your taxes. Having a child, buying a home, or a change in your marital status, all affect your tax return. If you have previously submitted your return as married filing jointly but your marital status has changed, you may be able to fil

Filing a joint bankruptcy petition is not much different than filing an individual case. The filing fees are the same in joint cases as individual cases, as are the documents that are filed with the bankruptcy clerk’s office. The primary requirement is that both debtors must sign all documents

Hiring an Elgin or Champaign collections lawyer will likely involve a significant amount of research on your part. You'll need to ensure that the attorney is in good standing with legal assoc

Bankruptcy is a legal term used for describing the status of an individual or organization that fails to pay back the debts to its creditors. There are many people and companies that undergo bankruptc

Bankruptcy is a legally declared inability, or impairment of ability, to pay in full debts owed to creditors. It originated in England and was originally planned as a remedy for creditors, not debtors, allowing creditors to seize all assets of a debtor and imprison the debtor, forcing the family to