If you have suffered an overwhelming financial hardship, you may be starting to weigh whether filing for bankruptcy is a viable alternative to the mounting piles of bills or the harassing creditor phone calls. Bankruptcy is a good choice for many who need a fresh...
Usually, when you think of the rich and famous, you envision mansions, flashy jewelry, and a lavish lifestyle. Unfortunately, even the more famous of us are not immune to the pitfalls of credit card debt and medical bills piling up. Think of some of the famous names...
Frequently in this blog, we touch on the manner in which bankruptcy impacts business. Many big-name businesses have been facing financial difficulties or have even filed for bankruptcy in recent months, such as Sears, Gibson Brands Inc., and Andy Warhol’s Interview...
Many view bankruptcy as the end of the road – money runs out in business, or personal debt is impossible to manage, for example. The only way out for some is bankruptcy. But bankruptcy may actually help struggling businesses recover, and can even push business owners...
Retirement. That’s everyone’s goal after having worked for over 40 years. But for many the elderly, this may be just a dream. Financial problems plague the older generation, from rising interest rates, to exorbitant medical costs, to crushing credit card debt along...
In 2005, Congress decided to revise the bankruptcy code, which hadn’t been changed much during the previous 25 years. Why did they choose to revise? Congress and bankruptcy courts had become increasingly concerned that too many people were filing for bankruptcy – and...
Remember the days when everyone would shop at Sears for back-to-school clothes after receiving the annual catalog in the mail? Well, the once-dominating department store is closing stores across the U.S. This is due to the company’s inability to reach sales goals,...
In 1969, Interview magazine was founded. It is a publication that details arts and culture, and which was started by Andy Warhol. On Monday, May 21, 2018, employees of the magazine company publicly tweeted that the publication is filing for bankruptcy. This comes...
For any musicians reading this, you may be devastated to learn that the guitar company, Gibson, recently filed for bankruptcy. But don’t worry, all may not be lost; the leading guitar company plans to stay in business by focusing solely on manufacturing and selling...
Filing for bankruptcy may seem very confusing. You may be asking yourself, “Where does the debt go?” or “Who pays for the debt?”. The answers to these questions all depend on the type of bankruptcy you file, be it either a Chapter 7 liquidation or Chapter 13...
