As Tennessee businessmen may know, a company may have to go into bankruptcy if it sees continuing losses and mounting debts. This is what happened with Aeropostale, a clothing company based in New York City that markets apparel for teenagers and young adults. The...
Year: 2016
Bankruptcy protection for American retailer Aeropostale
Tennessee shoppers should be aware that clothing retailer Aeropostale has filed for bankruptcy protection. The company filed for Chapter 11 bankruptcy protection on May 4 after seeing a steady decline in sales. It was known for its basic designs in a variety of...
Top five reasons bankruptcy might be a good idea for your struggling business
Your business debt is a reality - it has already happened. Now is not the time to wonder what would have happened if you had done something differently. Now is the time to start thinking about how to save your business or avoid personal liability for its debts....
Can a Chapter 7 filing help with unmanageable medical debt?
There’s no question that medical debts can strain a family’s finances. Although studies disagree about the precise percentage of bankruptcies that might be caused by overwhelming medical debt, it’s easy to see how problems could start. For example,...
Will bankruptcy save your car and home?
Many people shy away from bankruptcy because they are under the impression that they will lose everything. This is not true. In fact, you can use Chapter 13 bankruptcy to save both your car and home from repossession. How does that sound to you? Both your car and your...
What can a bankruptcy automatic stay do for you?
When you file for bankruptcy, you hope that your financial situation will change for the better in the near future. And when it comes to the automatic stay, you are exactly right. There are several things the automatic stay will do for you, including the following:
Do you qualify for Chapter 7? Maybe, maybe not
There are many benefits of Chapter 7 bankruptcy, including the fact that you can discharge most or all of your debt. Furthermore, it typically takes only four to six months for the process to come to its completion. But here is the problem: You may not qualify for...
5 steps to determine if bankruptcy is a good idea
When it comes to personal bankruptcy, you are sure to have many questions on your mind. Most importantly, is this something that can improve your financial situation? Once you learn more, you can decide if bankruptcy is a good idea. Here are five steps to help you...
How does a Chapter 13 bankruptcy work?
A Chapter 13 bankruptcy involves making arrangements to pay creditors according to a bankruptcy agreement. Usually this involves paying less than the total amount owed in a settlement that takes place over 36 to 60 months. You don't actually make the payments directly...
Save your business through Chapter 11 bankruptcy
It is not uncommon for a business to run into financial difficulties at some point. If you find your company in this position, you have a few options. Once you consider everything else, you may want to learn more about Chapter 11 bankruptcy. Although the Chapter 11...

