What is bankruptcy exactly? Kelly helps to break down and define bankruptcy by, a legal process for obtaining debt relief for those unable to repay obligations. A lot of bankruptcy problems relate to corporations, but most cases are actually by individuals. Majority of bankruptcy cases are related to medical injuries or expenses. Other reasons for bankruptcy might be losing your job, going through a divorce, or simply taking on too much debt. Of course, especially currently with this pandemic, corporations and small businesses also struggle. When hearing the word bankruptcy, most jump to assume this is the end, or it is a negative road to take. However, there is so much more about bankruptcy then many of us know. Tune in to find out more about bankruptcy, as well as when it is time to reach out and if it will benefit or damage you and your financial standings. Bankruptcy in Place to Restructure and Offer Help Kelly invites Salene Kraemer to help provide knowledge about bankruptcy and how to go about handling it properly. Salene is a business lawyer and consultant. She helps businesses and individuals navigate their way through bankruptcy and other financial hindrances. Salene helps to inform listeners of when and how to act. She also informs the opportunities and other avenues to take when it boils down to filing for bankruptcy. Any individuals or business owners who would like to know the details and specifics on bankruptcy, will find their answers in this podcast! Listen to Kelly and Salene talk Bankruptcy and all factors involved, such as: Explanation of Bankruptcy and enabling to help Restructuring of Debt Analysis of Bankruptcy and Questions asked before filing How to restructure, modify and lean stripping Ideal candidates for Bankruptcy Non-bankruptcy options Consensual prepackage Bankruptcy plans Tax issues and rules All about Trustees Business survival Vs. failure How to reorganize and reoperate Business restrictions post-Bankruptcy Are there repeat bankruptcy clients? When to file Claims objection process What point proves it’s time to file Retirement assets Income means test and variables Do not fear asking for help More About Kelly Phillips Erb: Kelly is the creator and host of the new Taxgirl podcast series. Kelly is a practicing tax attorney with considerable experience and knowledge. She works with taxpayers like you every day. One of the things that she does is help folks out of tax jams, and hopefully, keep others from getting into them.   Links Mentioned: Kelly’s Website – Taxgirl Salene Kraemer- LinkedIn Salene’s Phone number- 4124270705 Email Salene- skraemer@bernsteinlaw.com