Give the bankruptcy trustee the headache of dealing with your final business assets
Protect your business assets immediately with the "automatic stay" and permanently with property exemptions.
Careful: if your business is not a sole proprietorship, legal disputes against your business are not "stayed" by your personal bankruptcy's "automatic stay."
Ongoing litigation, or the threat of it, against you and/or your business usually dies with your bankruptcy filing.
Chapter 7 puts you in the driver's seat to either keep or surrender the collateral securing your business debts.
Chapter 7 can legally write off some business-related taxes, and put you in a good position to take care of the rest.
Closing down a failing business can be a lot smoother with a Chapter 7 case.
Filing Chapter 7 bankruptcy in the midst of letting go of your home can be a smart combination.
Saving the vehicle sometimes is not the best option, so Chapter 7 bankruptcy gives you a safe way out.
Chapter 7 bankruptcy can often also wipe judgment liens off the title to your home.
Evidence is mounting that the banks suppressed the "independent" reviewers' efforts to find foreclosure abuses and compensate homeowner victims.
This settlement means for of the same for the New Year: "no accountability for financial institutions and little help for borrowers," according to a NY Times op-ed.
3.8 million people whose homes were in foreclosure in 2009 and 2010 will receive $3.3 billion in cash, plus another $5.2 billion in other help.
Chapter 13 protects you while you catch up on your vehicle loan, or you may not need to catch up on that loan at all.
Chapter 13 protects you while you catch up on or pay off very important debts.