Filing for Bankruptcy as a Sole Proprietor: Key Considerations
Operating as a sole proprietor offers simplicity and flexibility, but it also comes with one significant drawback: there’s no legal separation between you and your business. If your business is struggling with debt, creditors can pursue not just business assets but also your personal property. In such cases, filing for bankruptcy may...
Can I Restructure My Business Without Filing for Bankruptcy?
Running a business often means navigating financial ups and downs. When debts mount or cash flow slows, many business owners wonder if they can turn things around without filing for bankruptcy. The good news is that restructuring your business without bankruptcy is not only possible but often a wise first step toward...
Personal Liability and Business Bankruptcy: Am I at Risk?
Starting and running a business is a rewarding venture, but it comes with its share of risks, especially when it comes to finances. If your business faces insurmountable debt and bankruptcy becomes inevitable, a crucial question arises: Can you be held personally liable for your business’s debts?
The answer...
What Happens to Business Debts When a Business Closes?
Closing a business is a difficult decision, often filled with uncertainty and emotional weight. Whether due to financial challenges, a change in circumstances, or personal reasons, shutting the doors of a business brings up a critical question: What happens to the business debts when the business closes?
The answer...
How to Know If Bankruptcy Is the Best Option for Your Financial Situation
Deciding whether to file for bankruptcy is a deeply personal and often difficult choice. While it offers a powerful tool for financial relief, it’s not always the right solution for everyone. If you’re feeling overwhelmed by debt, it’s important to evaluate your situation carefully before making a decision.
At...
Do You Need a Lawyer to File for Bankruptcy in Kentucky?
Filing for bankruptcy is a big decision, and it’s natural to wonder if hiring a lawyer is necessary. While it is possible to file for bankruptcy on your own, the process can be complex and overwhelming without professional guidance. In Kentucky, understanding the nuances of bankruptcy law and navigating the court system...
What Debts Can and Cannot Be Discharged in Bankruptcy?
When facing financial challenges, bankruptcy can provide a fresh start by wiping out certain debts. However, not all debts are treated equally. Understanding which debts can be discharged—and which cannot—will help you determine whether bankruptcy is the right solution for your situation.
At Dennery Law, we believe in empowering...
What to Expect at a Bankruptcy Hearing: A Step-by-Step Guide
Filing for bankruptcy can feel overwhelming, and the thought of attending a bankruptcy hearing often adds to the stress. Many people worry about what will happen, who will be present, and how they should prepare. At Dennery Law, we believe that knowledge is power—and knowing what to expect can help reduce your...
What Happens to Your Credit Score After Bankruptcy—and How to Rebuild It
For many people, filing for bankruptcy brings immediate relief from overwhelming debt. However, the thought of what it might do to your credit score can be daunting. While bankruptcy does impact your credit, it’s important to remember that it’s not the end of your financial story. With the right strategies, you can...
5 Signs It’s Time to Consider Filing for Bankruptcy
Facing financial challenges can be overwhelming. Many people hesitate to explore bankruptcy, fearing the stigma or complexity of the process. However, bankruptcy is designed to provide relief and a fresh start when debt becomes unmanageable. If you’re unsure whether it’s the right option, here are five signs it might be time to...