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Bankruptcy Benefits

Bankruptcy Benefits

When people discuss bankruptcy, it’s almost always with a negative connotation. They see it as a failure, as something to lament. But what about its advantages? When handled properly, it can be the first step along the path to financial success. Wouldn’t the greater failure be to not declare bankruptcy, and continue in a unsustainable financial condition, making no progress toward solving any problems?

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Debtor and Creditor Workout New Mexico, Part 2

Debtor and Creditor Workout New Mexico, Part 2

There are certainly situations where an individual or business is too far underwater to expect a workout to save them from bankruptcy. In these cases, attempting a workout would likely just waste time and delay the inevitable bankruptcy filing.

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Debtor and Creditor Workout New Mexico, Part 1

Debtor and Creditor Workout New Mexico, Part 1

A debtor and creditor workout is a written agreement modifying the terms of repayment on a debt. Also called non-bankruptcy workouts, a debtor and creditor workout can provide debt relief in two ways: through compositions and extensions.

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