Whether it is business incorporation, contracts formation, or maneuvering the intricacies of Arkansas’ and Oklahoma’s administrative agencies in order to apply for licenses or permits, we can handle it.
Need a liquor license in a dry county? We can help.
Individuals and businesses in debt can either liquidate their assets by filing for Chapter 7 or reorganize their assets under a 3-5 year payback plan under Chapter 13. In some cases the debtor cannot file Chapter 13, as they lack the disposable income necessary to fund a Chapter 13 payback plan. There are also limits on the amount of secured and unsecured debt a person can have accumulated before filing for Chapter 13.
Under Chapter 7, a trustee is appointed to oversee the sale of the debtor’s assets but sometimes businesses get a trustee to oversee operations before liquidation. The individual is allowed to keep certain exempt property but most liens, such as real estate mortgages and security interests for car loans, survive.
If you are swimming in debt and think you would be a good candidate for bankruptcy, give us a call.