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Business Bankruptcy in California: Does the Company Have to Pay their Employees?

by Paul Y. Lee | Jan 22, 2018 | Bankruptcy

If a company declares Chapter 11 bankruptcy, often referred to simply as business bankruptcy, it doesn’t mean they’re going out of business. In fact, the opposite is true. That said, there can be serious impacts on the way the company operates on a daily basis –...

Back Taxes, Bankruptcy, and the IRS: Learn What Your Options Are

by Paul Y. Lee | Jan 9, 2018 | Bankruptcy

Many people who are considering Chapter 13 bankruptcy have questions about what happens to their IRS debt. They wonder if their back taxes can be wiped out via bankruptcy. As you may expect, this isn’t a question with a yes or no answer. Read on to learn more about...

Medical Debt and the Statute of Limitations: Should You Declare Bankruptcy?

by Paul Y. Lee | Dec 21, 2017 | Bankruptcy

When you have a mountain of medical debt, it can feel as though there’s no way out of it. However, there is something known as the statute of limitations that disallows a creditor to sue you for certain types of debt, including medical bills. Read on to learn more...

The 3 Categories of Debt Reorganization in a Chapter 7 Bankruptcy

by Paul Y. Lee | Dec 8, 2017 | Bankruptcy

If you’ve been dealing with significant debt and are ready to move on, then you may want to file bankruptcy in California. While this isn’t the right solution for everyone, for some it can be a lifesaver. Learn more about how debt is reorganized in a Chapter 7...

Same-Sex Marriage, Domestic Partnership, and California Bankruptcy Law

by Paul Y. Lee | Nov 20, 2017 | Bankruptcy

Bankruptcy law can be confusing for everyone but when a couple is living in a gray legal area, it can become even more complicated. This may the best case for same-sex couples who may be married or living as domestic partners. Read on to see how California law applies...

Learn What Happens to Stocks if You Declare Business Bankruptcy

by Paul Y. Lee | Nov 6, 2017 | Bankruptcy

If you own a business and are thinking about filing for bankruptcy, you should know that you’re not alone. In fact, dozens of companies in every district of California file for business bankruptcy each year. In some cases, it’s a good idea and in other instances there...

Does Chapter 13 Bankruptcy Cover IRS Taxes in California?

by Paul Y. Lee | Oct 24, 2017 | Bankruptcy

When most people think of high consumer debt, they think of credit cards or medical bills. While these are common culprits of insurmountable debt, many people in California also struggle with IRS taxes. These payments can get truly overwhelming. The good news is that...

Not Sure if Bankruptcy is Right for You? Ask Yourself These 3 Questions

by Paul Y. Lee | Oct 13, 2017 | Bankruptcy

Making the final decision about whether or not bankruptcy is right for you is a difficult one. In some cases, it can be a huge relief. In other cases, it may not. No matter what your situation is, you can count on The Law Offices of Paul Y. Lee to offer you honest,...

Can You Guess the 5 Most Common Reasons People Declare Bankruptcy?

by Paul Y. Lee | Sep 21, 2017 | Bankruptcy

From 2013 to 2016, the number of people declaring bankruptcy in the state of California reduced by almost half. That said, thousands of people still file bankruptcy every year. Do you know the most common situations that lead to bankruptcy filings? Read on to learn...

Business Bankruptcy and the Top Reasons Companies Choose to File

by Paul Y. Lee | Sep 9, 2017 | Bankruptcy

No company goes into business thinking that they’ll have to file bankruptcy, yet for businesses across the country, it can become the best option. Most people assume that there’s just a single reason companies file: They’re dealing with financial difficulty. The...

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