In the last five years, property values have fallen leaving many people owing more money than their property is worth. If you own a building with rental apartments, you may be able to reduce what you pay to only what the building is worth by filing a Chapter 13 bankruptcy and using a cram down or bifurcation.
I said your decision is a personal one but should be based on correct facts and options.
In another article SHOULD I FILE BANKRUPTCY?:
In another article SHOULD I FILE BANKRUPTCY?
It seems like every week, I get a telephone call that generally goes like this: