What is the Purpose of a 341 Meeting?

When a person files for bankruptcy in the state of New York, they often create a plan. This outlines how they will pay back their debt over time. In order to begin paying this plan, there are certain requirements that must be met and steps to be taken. No matter which type of bankruptcy is […]

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What is Chapter 7 Bankruptcy?

Many people struggle through difficult financial times in their life. In fact, often times a person filing for bankruptcy is a middle-class citizen with a job, house, and children. These times can often be stressful, as an individual may face the possibility of not being able to support their family or losing their home. It […]

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What is Chapter 11 Bankruptcy?

Just like anyone else, businesses can struggle through difficult financial situations. When this happens, the business owner may worry about what the future holds. If a business is facing a great amount of debt, it may be time for the owner to considering filing for bankruptcy. Bankruptcy is a process that is used when individuals […]

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Business Lingo for Small Business Owners

Every small or large business owner should be familiar with the following terms.  Why? Because at least twice a year (or even monthly) you should review your company’s financial health, using these terms as your checklist: Accounts Payable is money your business owes to other businesses for outstanding invoices for goods and services. Accounts Receivable […]

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