New York City Bankruptcy Attorney | NYC Law Office of William Waldner

Don’t Let A Spouse’s Bankruptcy Rob Your Refund

This article was orignally published in Forbes. For the original article click here Picture this: Your spouse’s small business goes bankrupt, and your spouse along with it. (Or worse: You go bankrupt, and you have to tell your spouse about it.) You hang on to the house and some other assets that are in your […]

What Happens To Your Business Assets In A Personal Bankruptcy?

This article was originally published on Forbes. For the original article click here In my last article, we saw what can happen when a business bankruptcy intrudes on personal finances — with potentially disastrous consequences for an innocent spouse. But what if you’re facing personal bankruptcy despite owning and operating a successful business? And what better […]

The Essentials Of Chapter 7 Bankruptcy

This article was originally published in Forbes. For the original article click here Right off the bat, let’s dispense with bankruptcy’s stigma. While the notion of erasing valid debts and starting fresh doesn’t sit well with everyone, it’s a concept as old as Moses. More than that, bankruptcy is an essential tool for a market […]

The Ins And Outs Of The New Small Business Bankruptcy Option

This article was originally published on Forbes. Click here for the original article You might have missed it amid all the goings-on since then, but in August 2019, a new law was passed that gives small businesses (and individuals/married couples) a new and simplified way to go through bankruptcy without needing to sell off their […]

Subchapter V: A Small Business Lifeline Just In Time

This article was originally published in Forbes. Click here to see the original article Though bankruptcy is a complex process, the concept is simple. If your business income — or your personal income, if you’re contemplating a personal bankruptcy — isn’t enough to meet your debt obligations, you’re probably “bankrupt,” at least insofar as you’re […]

Knowing When To Bite The Bankruptcy Bullet

This article was originally published on Forbes. Click here for the link Hitting the reset button is never easy. It can feel like you’re blowing up everything you’ve built, and it’s hard to focus on anything but the loss. But when things have taken a turn for the worse, and what you’ve built has already […]

Understanding Chapter 13 Bankruptcy For Independent Business Owners In Need

This article originally apeared on Forbes. Click hear for the original Not all bankruptcies are created equal. There are times when it’s unquestionably time to let go of opportunities that didn’t pan out, in which case a liquidation bankruptcy — generally governed by Chapter 7 of the U.S. Bankruptcy Code — might be the best […]

What Courts Look For In Chapter 13 Bankruptcies

This blog was originally posted on Forbes. Click here for the original link Small business owners contemplating bankruptcy typically have two choices: filing under Chapter 7 of the U.S. Bankruptcy Code, which means liquidating your business and walking away, or using Chapter 13 to reorganize personal debts, allowing you to leave more money in your […]

Chapter 7 Bankruptcy: A Lifeline For Independent Business Owners In Need

This article originally appeared on Forbes.  Click here for the original article Business entities must generally choose between two types of bankruptcy: a Chapter 11 reorganization, which is a time-consuming and expensive process virtually only worthwhile for the largest corporations, and a Chapter 7 liquidation bankruptcy, in which business assets are liquidated and the business […]