August 19, 2015

Potential bankruptcy clients are undoubtedly facing difficult issues.  Bankruptcy may be able to cure a client’s difficulties, it can just as easily create more problems. At Keller & Almassian, PLC we describe the benefits of bankruptcy and outline potential pit falls. It is important for our clients to fully comprehend the impact of bankruptcy.   A client should fully understand that in bankruptcy there are no guarantees, and that they will, at least temporarily, lose control of their property as it becomes part of the “bankruptcy estate” once the petition is filed.  Particularly in Chapter 13, it pays to review the various duties and obligations clients will face throughout the bankruptcy process. The process goes much more smoothly when the client knows up-front if they must turnover their tax refunds, bonuses, or any other disposable income for the next five years. These issues can be difficult for those who live on an already limited budget and are not prepared for what their requirements are within their bankruptcy.

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We represent businesses and owners anticipating or experiencing financial distress.

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