When you file for bankruptcy, you typically must give up certain types of property and assets in order to pay off your debts. Bankruptcy exemption laws allow you to keep certain types of property depending on your state of residence. In Michigan you are allowed to choose either state or federal exemptions. You are generally
Read More ›A merger and acquisition can be a smart strategic move for companies with plenty of economic prospects. That said, some M&A transactions are stronger than others. The following signs can help you predict whether your company can survive a merger and acquisition—and whether it will pay off. 1) Thorough initial assessments Long before the integration
Read More ›Normally, any individual is considering filing bankruptcy for themselves will have to file either Chapter 13 or Chapter 7 bankruptcy. Businesses generally file either Chapter 11 or Chapter 7 bankruptcies. There are, however, a few other key types of bankruptcy which exist. Chapter 9 is one such option, and it is specifically tailored to help
Read More ›It’s no secret that filing bankruptcy will have an effect on your credit score — and how quickly you will be able to rebuild credit In fact, filing bankruptcy will affect your credit score more than any other single event in your life. This effect, in turn, may put a damper on your ability to
Read More ›Anyone with an interest in the sale, acquisition, or merger of a business might be faced with the prospect of entering into an Earnout Agreement. In a business merger and acquisition environment, an Earnout Agreement enables buyers and sellers to assign a variable value to part of the sale price and tie it to the
Read More ›You owe a creditor money. Perhaps you made some bad investments or you were forced to pay significant medical bills when a loved one was in an accident or developed a severe illness. Now, you are past due on a hefty credit card bill. You discover that your creditor obtained permission for a garnishment by
Read More ›Whether you have been working in business your whole life or you are brand new to the world of business, you are likely to face situations at some point or another which are “over your head,” especially when it comes to your company’s legal strategies. Rather than trying to handle everything on your own, it
Read More ›Right now, as you read this blog, there are millions of Americans out there who are struggling to pay off their debts. They have fallen behind for one reason or another. Perhaps they lost their job or fell severely ill. Whatever the reason, for those who are trapped under a mountain of debt, filing bankruptcy
Read More ›Americans are more burdened by student loan debt now than they have ever been before in history. Millions of borrowers owe well over $1 trillion dollars in student loans, and the average student loan debt for graduates of the class of 2015 was $35,000 per person. And as you might expect, in a tough job
Read More ›One of the most commonly asked questions when it comes to filing bankruptcy is, “How will this impact my credit score?” People are understandably worried about their creditworthiness. After all, there are so many vital aspects of your life that are reliant on your ability to open lines of credit. From your home to your
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