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Chapter 11 Archives

Can the Bank Freeze My Checking Account if I File for Bankruptcy?

can the bank freeze.jpgYou may have been out shopping for groceries this past weekend, or perhaps at your favorite local hardware store picking up tools and materials for a few maintenance projects on your home. As you perused the aisles and began filling your cart, most likely you had no sense that any trouble was brewing regarding your ability to pay-until that embarrassing moment when you reached the cashier and heard, "I'm sorry but your card has been declined." This is always a bad moment, and one most of us have experienced due to one issue or another. As the line behind you began to build, you probably tried swiping at least a couple more times only to get the same humiliating result.

Military Service and Bankruptcy

If you are on active military duty, a disabled veteran, or planning to enlist in the armed forces, you may be wondering how your military status may affect your bankruptcy. If you are a member of the armed forces, you have the same right to file for bankruptcy protection as a civilian. In fact, special exemptions apply to military bankruptcies that can help discharge debt that might not otherwise be eligible.

Bankruptcy Options for Small Business Owners

If your small business is struggling with debt, filing for bankruptcy might be a good choice. Small business owners have several options available to help eliminate debt. The best option is to consult an attorney to discuss all the alternatives available based on your unique needs and circumstances. 

Should I File Bankruptcy if I Received and Inherited IRA?

If you are considering filing for bankruptcy relief and you have recently inherited an individual retirement account (IRA), it is imperative that you seek advice from a seasoned bankruptcy attorney. The United States Supreme Court made a ruling in 2014 that a debtor seeking debt relief in bankruptcy must forfeit all funds from an inherited IRA to pay creditors and settle debts.

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