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New Mexico Lawyers Serving New Mexico's Legal Needs Since 1997

Bankruptcy Archives

Worrying about debts probably won't help, but bankruptcy might

Countless individuals have experienced periods of financial struggle throughout the course of their lives. In some cases, these periods may be short-lived, while in others, it can be difficult to see the light at the end of the tunnel. Perhaps you are experiencing similar challenges, and you are feeling crushed under the financial weight of debt.

The current uncertainty about the future of medical-debt levels

Medical debt is an important topic in the news right now because of the activity in Congress around whether to repeal the Affordable Care Act, also called the ACA or Obamacare. We talk about medical debt in our blogs because of the impact it has on our clients who talk to us about legal options for dealing with it, including possible bankruptcy.

How bankruptcy's automatic stay impacts debtors and creditors

One of the most important features of federal bankruptcy law is the automatic stay. When a consumer or business files a petition for bankruptcy relief in U.S. Bankruptcy Court, the petition effectively freezes most collection efforts against the debtor who filed the bankruptcy petition.

Dispelling common bankruptcy myths

Filing bankruptcy is scary for a lot of people. Many see it as a sort of failure, but that isn't completely a bad thing. If you are thinking of filing bankruptcy, it means your financial management has already fallen short of what you would have liked it to be. Sometimes filing bankruptcy simply means you have admitted your own limitations and are ready to regroup and do better.

More on small-business debt collection

Last month, we talked about the importance of debt collection to the stability of many small-business owners. We pointed out that a lawyer should draft precise contracts for both customer and business-to-business transactions. Clear contractual provisions that specify when debts are due, methods of payment and how defaults will be handled puts the family business owner in a position of strength when debt collection becomes necessary.

Putting a small business debt collector in a position of strength

We represent small business owners in a variety of matters, but an important part of our practice is helping these clients collect debts owed to them. We have blogged about this before, particularly about the different approaches to collection that might be taken to secured versus unsecured debts.

Watch our videos to learn of the many ways we can help you with your legal needs.

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Giddens, Gatton & Jacobus, P.C.
10400 Academy Road NE
Suite 350
Albuquerque, NM 87111

Phone: 505-273-3720
Fax: 505-271-4848
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