Sole proprietorships, characterized by individual ownership and management, face unique challenges when financial difficulties arise. Given the lack of legal separation between personal and business assets, choosing the right type of bankruptcy is crucial. This is...
One of the most common questions that I receive from people contemplating filing for bankruptcy is, “Am I going to lose everything if I file for bankruptcy?” The trepidation of losing everything that you have worked hard to obtain is usually the reason that people...
No. A married couple does not have to file jointly just because they are married. One spouse can file, and the other one does not have to file (this person is the “non-filing” spouse). However, there are many factors to consider in the decision of whether to file a...
If you're considering Chapter 7 bankruptcy in Iowa, the means test determines if your income is low enough to qualify for this type of debt relief. The test helps prevent those with higher incomes from filing for Chapter 7, which typically involves liquidating...