Maxwell Dunn’s Business Law Blog

Few people want to make the choice to file for bankruptcy, but medical bills, job loss, and other unexpected financial problems can leave you with debt that seems impossible to whittle away, making bankruptcy a reasonable option. Bankruptcy is a way to erase the stress that comes from being unable to meet those financial obligations, […]

Debt collectors can be persistent, calling at all hours of the day and night to the point of harassment. Owing money is stressful enough, but once an outstanding debt is handed over to a debt collector, the stress levels almost immediately escalate, thanks to repeated calls, threats and other intrusive behavior. A 2009 story in […]

A UCC-1 Filing Statement, also known as a UCC-1 Financing Statement, is a legal claim made against your company’s assets by a lender under the Uniform Commercial Code. It creates a UCC lien that gives the creditor the right to seize and sell certain assets to repay the debt if you default. It also gives […]

If financial challenges have caused you to fall behind on your mortgage payments, foreclosure can transition quickly from a worry to a very real possibility. Few things are more alarming than receiving a Notice of Default from your lender, as it is the first step in the potential loss of your home. When this happens, […]

There are several types of bankruptcy. Each Chapter of the bankruptcy code covers a different kind of debtor or aspect of bankruptcy cases. Chapter 11 bankruptcy is specifically used for business reorganizations, but some high-income individuals may be able to use it as well. Chapter 11 differs from Chapter 7 bankruptcy because it generally does […]

Even if you think bankruptcy is your only option, you may have alternatives that you have not considered to avoid bankruptcy. While bankruptcy is an extremely helpful option for millions of debtors every year, you may want to take some other steps before you make that kind of commitment. Bankruptcy isn’t for everyone. Depending on […]

When running a company, it is critical to find the right team of people to help make the business succeed. Employees and independent contractors are two of the most common types of workers, and while they can often perform similar tasks, they are quite different from a legal perspective. Understanding the difference between contractors and […]

In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act added Chapter 15 to the bankruptcy code. This particular chapter adopts the Model Law on Cross Border Insolvency, which was created by the United Nations Commission on International Trade Law. Essentially, it allows parties who are in different countries to take advantage of and participate […]

You may have heard horror stories about how bankruptcy destroys your credit and that you will lose everything you own if you file. Thankfully, these myths are not true. While it is true that filing bankruptcy will have an effect on your credit and you may have to sell some of your property, it is […]

For many people, student loans are unavoidable if they want to go to college. Parents may not be able to fund all (or even part) of your education, and since the cost of college tuition is very high, student loans may be your only option in some circumstances. You may have also heard that the […]