Which Type of Bankruptcy is Better for A Small Business Owner Like Me?

When you find your small business in the red, bankruptcy may be your best option. Restructuring your debts under Chapter 11 or Chapter 13 (with certain limitations) may be the saving grace to keep your company afloat.
On the contrary, if you are planning to close down your business, a “straight” or “liquidation” bankruptcy may be the better way out.
How does reorganization help my small business?

Tax Debt Relief

Getting Relief from Tax-Debt Garnishments

Bankruptcy and Taxes

What Bankruptcy Can & Cannot Do For Federal Tax Debt

What is Considered Undue Hardship for Student Loans in CA?

Millions of Americans are dealing with vast amounts of student loans that can be difficult to manage. While some borrowers may have reasonable repayment terms based on the amount of money the student borrowed, other students get locked into decades-long repayment plans they may never pay off. Many borrowers are becoming more interested in the […]

Can A Self-Employed Individual File For Bankruptcy?

Yes, you may file a Chapter 7 or Chapter 13 bankruptcy as long as you can establish and prove your average income for the six months prior to filing your case.
If you are self-employed or an independent contractor looking into filing Chapter 7 or Chapter 13 bankruptcy,  you need to verify your income. While it is a requirement for all bankruptcy filers to report and document their income, this can be tricky for the self-employed. So, how do you go about verifying your income?
What is the Purpose of Income Verification in a Chapter 7 or Chapter 13 Bankruptcy Filing?

Arizona Trustee Sales, Foreclosures and Short Sales

As an Arizona attorney I have been involved in thousands of Arizona trustee sales.
Never do a short sale, deed in lieu of foreclosure, allow a trustee’s sale, or a foreclosure to go forward without first obtaining both legal and tax advice. You cannot undo serious mistakes once the process is completed.

How Filing Bankruptcy Affects Your Business

Are you struggling to pay business debts? Are you feeling the weight and stress of what feels like an endless amount of debt crushing you? Is your business failing to produce enough income to cover expenses? Could your business really benefit from being reorganized? If you are a business owner, filing bankruptcy probably is one of the last things you want to consider. Yet, according to the Small Business Administration (SBA) more than 50% of businesses fail within the first ten years. Unfortunately, filing business bankruptcy is something many business owners need to consider.

How Filing Bankruptcy Affects Your Business

Are you struggling to pay business debts? Are you feeling the weight and stress of what feels like an endless amount of debt crushing you? Is your business failing to produce enough income to cover expenses? Could your business really benefit from being reorganized? If you are a business owner, filing bankruptcy probably is one of the last things you want to consider. Yet, according to the Small Business Administration (SBA) more than 50% of businesses fail within the first ten years. Unfortunately, filing business bankruptcy is something many business owners need to consider.

The potential impact of relief of indebtedness income on settlement agreements

Shenwick & Associates is happy to announce that we have just settled another taxi medallion debt with a favorable result for the client.

WPIX: Cabbies protest congestion pricing fee they now have to charge; it’s killing business, and drivers, they say

MIDTOWN, Manhattan -- It's a proposal that would affect almost every driver in New York City starting in 2021, if it passes the state legislature this year.

However, congestion pricing -- the plan that would charge drivers for driving in the southern third of Manhattan's streets -- has already been in effect for yellow and green cab drivers since February 2.
Many of the drivers say that the added cost is ruining their business. On Wednesday, dozens of cab drivers held a mobile, and very loud, protest against the surcharge outside of Gov. Andrew Cuomo's office.

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