What is bankruptcy? Kelly helps to break down and define bankruptcy: a legal process for obtaining debt relief for those unable to repay obligations. A lot of bankruptcy reporting focuses on corporations, but most cases are actually filed by individuals and are related to medical injuries or expenses. Other reasons for bankruptcy might be losing a job, going through a divorce, or simply taking on too much debt.
When hearing the word bankruptcy, many people assume that it’s the end, or that it’s the worst path to take. However, there is so much more about bankruptcy than many of us know. Tune in to find out more about bankruptcy, as well as when it is time to reach out to seek professional help.
Bankruptcy is in Place to Restructure and Offer Help
Kelly invites Salene Kraemer to the show to talk about bankruptcy. Salene is a business lawyer and consultant who helps businesses and individuals navigate their way through bankruptcy and other financial problems. Salene explains when and how to act when you’re facing significant financial problems. If you have questions about bankruptcy or are just interested in hearing about the process, you’ll want to give this episode a listen.
Listen to Kelly and Salene talk Bankruptcy, including:
- Explanation of Bankruptcy
- Restructuring of Debt
- Analysis of Bankruptcy and Questions asked before filing
- Ideal candidates for Bankruptcy
- Non-bankruptcy options
- Tax issues and rules
- All about Trustees
- Business survival vs. failure
- How to reorganize and reoperate
- Business restrictions post-Bankruptcy
- Are there repeat bankruptcy clients?
- When to file
- Claims objection process
- Retirement assets
- Income means test and variables
- Do not fear asking for help
About Kelly:
Kelly Phillips Erb created and hosts the Taxgirl podcast, your home for tax news, tax info, and tax policy. In each episode, she shares conversations about taxes, money, and the choices we make. Kelly is a tax attorney who works with taxpayers and tax practitioners like you every day. She helps folks out of tax jams, and hopefully, keeps others from getting into them.
You can find out more about Kelly here and you can follow her on Twitter, Facebook, Instagram, and Linkedin.
To subscribe to the podcast (it’s free!) using Apple, Spotify, or your favorite listening app, click here.
Links:
Kelly’s website: Taxgirl
Salene’s law firm website: Bernstein-Burkley
Salene Kraemer: LinkedIn
Salene’s Phone number – (+1) 412.427.7075
Email Salene: skraemer@bernsteinlaw.com
