It has never been more dangerous for business owners to file Chapter 7 bankruptcy in Nebraska.

New rules now require that business owners prepare special valuation reports to provide more information about the assets of their business.  Chapter 7 Trustees have the power to sell unprotected assets, and they are demanding special reports showing the

Business owners filing Chapter 7 beware!  You may have to close your business until the Chapter 7 Trustee surrenders any claim to it.

That is the nightmare that potentially awaits unincorporated business owners who file Chapter 7.  Why is that?  And why does this only happen to unincorporated business owners?

The problem occurs because the

In today’s email inbox came this message:

Message from UST Regarding Necessary Documentation for Chapter 7 Section 341 Meetings of Creditors

The Chapter 7 Panel Trustees for the District of Nebraska have standardized the documents that they will request in every chapter 7 case. The following documents must be submitted to the appointed trustee prior

I meet lots of people who desperately need to file bankruptcy, but they lack the money to file. A typical Chapter 7 case costs $1,300, and paying the fee is probably the biggest stumbling block to filing a case.

A company called BK Billing provides an answer: borrow the money.  Under the BK Billing model,

Bankruptcy courts across the country have embraced the electronic filing of court pleadings since 2001. This system, known as Electronic Case Files or “ECF”, allows attorneys to sign and file documents with an electronic signature instead of using “wet ink” signatures on paper. The system is a great improvement over the older paper file