Legal Question in Bankruptcy in California
court judgments and leins
Several key employees left my landscape company taking the company designs w/ them. I was unable to continue and vendor debt ensued. Court judgments followed. If I file for BK can those judgments be eliminated or re-negotiated?
1 Answer from Attorneys
Re: court judgments and leins
If you file a Chapter 7 you may be able to completely eliminate your debt. You need to consult with me or another attorney to see if this would be a good option for you.
If you file a Chapter 13 Bankruptcy, you may be allowed to pay back a percentage of what you owe. You should consult with me or another attorney to see if this would be a good option for you.
Your final option may be a Chapter 11 Bankruptcy. You should consult with me or another attorney to see if this option would be appropriate for you.
The good news is that if a debtor has primarily business debts, he does not need to demonstrate that his income is too low to pay back his debts in order to qualify for Chapter 7 bankrutpcy.
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