When a Business Lease is Not a True Lease
Here are the factors for determining whether a business lease is treated as a true lease in bankruptcy or rather as a secured purchase.
Business Leases Recharacterized
A business leases may not be a true lease but rather recharacterized as a secured purchase, giving you significant power over the creditor.
Business Leases of Personal Property
With business leases you have the same options in bankruptcy as with consumer leases: to "assume" or "reject" the lease.
Rents and Profits as Bankruptcy Assets
Beyond considering whether your assets have net value on the date of filing, do they generate rents, profits, or proceeds afterwards?
The Business Debt Exemption from the Chapter 7 “Means Test”
If your debts are not "primarily consumer debts" then you may be able to qualify for Chapter 7 bankruptcy much more easily.
A Chapter 7 “Means Test” Calculation Adjustment
As of April 1, 2016 you can have a little more "disposable income" and still pass the "means test" to qualify for Chapter 7 bankruptcy.
Making Sense of Bankruptcy: Debts That Are Not Discharged (Written off) in a Chapter 7 Bankruptcy
Start by assuming that debts are written off in bankruptcy, while knowing that there are some important exceptions that may apply to you.
Making Sense of Bankruptcy: Can Filing a Chapter 11 Reorganization Save Your Business?
Chapter 11 is a powerful way to address a business debt crisis, but because of its detriments must be used extremely selectively.
Making Sense of Bankruptcy: Should You File a Chapter 7 or Chapter 13 Bankruptcy if You Want to Continue Operating Your Business?
If you have a business that you need to continue of operate, choosing the right form of bankruptcy involves risks and opportunities.
Making Sense of Bankruptcy: Should You File a Bankruptcy for Your Closed Business and a Separate One for You Personally?
With a recently closed or about to close failing business, you often can't and seldom need to file a bankruptcy for the business itself.
Making Sense of Bankruptcy: Avoiding the “Means Test” in a Business Bankruptcy
If you have debts from a closed or about-to-close business, you may be excused from the "means test" and can qualify for Chapter 7.
How Bankruptcy Handles . . . Income and Withholding Taxes You Owe as the Business Owner of a Sole Proprietorship
If you want to keep your business operating but owe too much in taxes, a Chapter 13 case will protect your business while buying you time.
Crucial Question: What is Chapter 7 Bankruptcy?
Chapter 7, sometimes called "straight bankruptcy," is the simplest type of bankruptcy, yet it can also handle not-so-simple debt problems.
Disputes and Litigation Against Your Business Not Stopped by Your Personal Bankruptcy Filing
Careful: if your business is not a sole proprietorship, legal disputes against your business are not "stayed" by your personal bankruptcy's "automatic stay."
A Chapter 7 “Straight Bankruptcy” Can . . . Help You Avoid or Escape Litigation When Closing Down Your Business
Ongoing litigation, or the threat of it, against you and/or your business usually dies with your bankruptcy filing.