We Are Open! A & L, Licker Law Firm, LLC is keeping our clients and staff safe from COVID-19. We are open for free phone and video consults during these difficult times.

Our 3 Step Process

Step 1:
Get Out Of Debt

Step 2:
Clean Up Your Credit

Step 3:
Build Your Score

Blog

Chapter 7 Bankrtupcy for Businesses

If you are considering filing for bankruptcy for a business there area number of options available to you.  First you would need toconsider what type of liability you have.  If you are a soleproprietor or a general partner you are personally responsible for thedebt.  If you are a limited partner, have an interest in acorporation, […]
read more

Redemption of Property

When filing for bankruptcy there are a number of options to consider with regard to property.  A debtor can choose to surrender property, reaffirm debt, or to redeem the collateral.  Each has different advantages and disadvantages.  Here we will focus on redemption of collateral.  Redemption means that a debtor will make a one time lump […]
read more

Options for Property in Bankrtupcy

Redemption Redemption will require you to have a certain amount of cash up front that you can put towards the balance.  Redemption applies to cases where the property value has depreciated to lower than the amount of the loan.  When this happens the creditor is considered under secured. Essentially, to redeem a debt, you make a […]
read more

Reaffirmation

When filing for bankruptcy debtors are faced with a number of important decisions.  Throughout bankruptcy a debtor has the option to surrender property, even property that still has a loan balance.  Through bankruptcy a debtor is able to surrender property without penalty or worrying about deficiencies.  However, some debtors may wish to keep certain types […]
read more

Differences Between Secured and Unsecured Debt

When considering bankruptcy, the most meaningful difference between unsecured and secured debt is that unsecured debt can be discharged.  Secured debt can be discharged, however, any lien on the asset still remains.  Basically, this removes the contractual obligation to pay for the asset is eliminated, however, you still own the asset subject to a the […]
read more

Five Avoidable Mistakes When Considering Filing for Bankruptcy

Often times in the months leading up to filing for bankruptcy individuals try to rectify certain debts or take extreme measures to avoid filing for bankruptcy.  There are numerous things that people commonly do before filing for bankruptcy that may end up causing more problems in the long run.  Some of the most common pitfalls […]
read more

Cram Down in Bankruptcy

One advantage to filing for a Chapter 13 Bankruptcy is the option to “cram down” certain types of secured debts, including cars, trucks, and motorcycles.  Cramming down quite simply means that the amount owed will be reduced to the fair market value of the items.  Often times the value of an vehicle depreciates much faster […]
read more

Will Filing Bankruptcy Stop a Foreclosure?

Many people who are considering bankruptcy may also be in the process of losing their home due to foreclosure. In fact, oftentimes, these two situations are closely related. Yet, depending upon your circumstances, you could actually be able to save your home from foreclosure – or at least delay the process – by filing for […]
read more

Bankruptcy and Debt

Filing for bankruptcy can be a very personal and emotional decision.  You are probably worried about a number of things, including what filing for bankruptcy will do to your credit now and in the future. Bankruptcy certainly will affect your credit, but it is important to realize that if you are currently considering bankruptcy, your […]
read more

The Basics of the Bankruptcy Process

The decision to file for bankruptcy is a very important and personal decision.  If you are considering filing for bankruptcy there are a number of things to consider and a number of common pitfalls to avoid.  Even after making the decision to file for bankruptcy you probably still have many questions about how the process […]
read more