Month: February 2017

Are you drowning in debt? Avoiding bill collectors? Do you see the numbers in your bank account dwindling with no ideas about how to replenish them? If this is your situation, declaring bankruptcy might be the right choice for you. At Alpina Legal, we help people get back on their feet by walking you through this process and we invite you to come in and let us help you determine whether this option is right for you.

‘What exactly does that entail?’ you may be wondering. There are two very common types of bankruptcy, both of which we’ll discuss here. The first is called Chapter 7 bankruptcy. In essence, you sell some of your property in order to help pay down your debt. In return, your unsecured debt will be erased. And, there are some kinds of poperty that are exempt, meaning you won’t be required to sell them–like your house, a car, clothes, furniture. Remember, that there are some kinds of debt that cannot be alleviated or erased–this includes spousal and child support, as well as tax obligations.

The other very common form of bankruptcy is Chapter 13. This is for those who are known as ‘wage earners’. That’s because you’ll need a reliable source of income because you’ll create a payment plan that shows how you plan to pay back the debts you owe over the next three to five years. Based on how much you earn, how much you owe and how much you would have paid if you had filed Chapter 7 bankruptcy, an amount will be determined that you will then pay down.

These are the two bankruptcy types usually used by individuals. Next time, we’ll discuss the kinds of bankruptcy you would declare for your business.

In summary, we’ve tried to provide you with the basics about declaring bankruptcy, but this is just the beginning. We’d like to invite you to come in for a consultation and we can help you determine whether bankruptcy is the right decision for you, and if it is we’ll do the leg work!

Forming a business should be an exciting and enjoyable venture, one in which all parties feel empowered, secure, and confident. This is why it’s a good idea to turn to someone in the business law field to help you with your endeavor. Keeping everything above board from the very beginning sets a tone for you and your partners. In addition, it helps you avoid complications, arguments or potential disputes in the future. Establishing a connection with good business lawyers also means you will have us at your beckon call if you should have other issues arise in the future with regard to your business.

If you’ve been considering forming a business, you’ve probably been made aware of the complicated factors involved in such a venture. There is the issue of choosing the right structure–will it be a corporation, a partnership, an LLC? Getting this right is key because the implications of this choice affect many other aspects of your business–including taxes, liability, transfers, sale of the business, or dissolution.

At Alpina Legal, we draw on years of experience and expertise as we help you to form your business. We’ll draft agreements–including buy/sell agreements, operating agreements, and other origin documents to ensure that you comply with laws and regulations in effect currently in the state. We’ll also represent you if you get involved in litigation matters once your business has been formed and is up and running–if there is a contract dispute, issues with intellectual property claims, partnership disputes, etc.

There’s no longer any need to hesitate. Call Alpina Legal today to come in and discuss your business formation. We will do our best to resolve your concerns and get you started in the right way. And remember, we provide consultations. We’d love to help you make your dreams come true.