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For many people, no debt has more practical importance than their car or truck loan.

Debts secured by liens on your property or possessions often grab the most attention during a bankruptcy case.

In most Chapter 7 “straight bankruptcy” cases most debts are written off, so what happens to them in a Chapter 13 “adjustment of debts”?

Your debts that are not secured by collateral and are not “priority” debts are discharged (written off) and paid nothing. Mostly.

Bankruptcy gives you a handle on your debts. There are different kinds of debts. It helps if you have a handle on these differences.

If you shut down your business, and file bankruptcy, that often ends business litigation against you. But not in these three situations.

One benefit of owing more business debt than consumer debt is that it gives you a largely free pass into a Chapter 7 bankruptcy case.

Do you believe that your small business could survive, and even thrive, if you could just get better payment terms on your overdue taxes?

When a small business fails, allegations of fraud against the owner are not uncommon. But they are often handled well in bankruptcy.

Chapter 7 “straight bankruptcy” and Chapter 13 “adjustment of debts” can prevent you from harm when you decide to close down your business.