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April 2017 Archives

Who should consider settling the issue of divorce through mediation?

shutterstock_217332397-1024x683-768x512.jpgWhen many people think of divorce, they think of lengthy, expensive, and hostile battles in a courtroom. Divorce is very rarely associated with anything positive, but it doesn't always have to be that way. One method of alternative dispute resolution that is commonly used to settle all the issues is known as mediation. Mediation has a lot of benefits, including being cost effective, efficient and relatively peaceful. The couple may walk away with more closure and even a respectful relationship. The strong emphasis on communication in mediation has the potential to resolve hostile feelings and establish a functioning relationship for future parenting.

A Quick Review of Chapter 11 Bankruptcy

Fotolia_76786431_L-1-768x505.jpgWhen bills mount and the future is uncertain, a business owner must consider the option of filing for bankruptcy. A business owner can file for Chapter 7 and liquidate assets in order to satisfy creditors. Usually, the business's doors must close and the staff are out of their jobs. When a business owner believes that the value of a business is more valuable than the sum of its assets, Chapter 11 may be the right option. Chapter 11 bankruptcy is a reorganization plan that functions to increase net cash flow. Through the process of Chapter 11 bankruptcy, a business may be able to rally and emerge as a profitable entity.

How can I repair my credit after bankruptcy?

coins-948603_960_720-768x512.jpgWhen you file for bankruptcy, your credit will take a big hit. However, with time and financial responsibility, you may be able to repair it. Credit is one of the most important financial aspects in your life and can have a serious impact on whether or not you are able to buy a home or a car, start a business or take out any type of loan in the future.

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Cohn Lifland Pearlman Herrmann & Knopf LLP
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