Companies can file for Chapter 7 or Chapter 11 bankruptcy. It is a process of debt relief in times of negative cash flow and a drop in sales. Cases had increased in the US with the Great Recession of 2008/09 reaching around 1.5 million annually but have dropped to around half that figure in 2020. As …
Bankruptcy Articles and Interviews (tag)
Can You Keep Your Business if You File for Bankruptcy?
During these uncertain times, it's no wonder that many businesses are experiencing financial hardship. If your company is mired in debt for whatever reason, you may have considered bankruptcy to get rid of it. However, you may be wondering: will you be able to continue operating your business even …
All You Need to Know about Bankruptcy Chapter 7 in Georgia
Are you feeling like small debts are putting your financial independence in danger? IRS or credit card debts may not involve the largest sums ever, but they still make thousands of people in Georgia file for bankruptcy every year. Fortunately, there’s no need to worry about losing a significant part …
What Are the Different Types of Bankruptcy?
When financial burdens pile up and become unmanageable, you may consider bankruptcy to relieve your debts. When you file for bankruptcy, you can create a new financial strategy that helps you to restructure your finances. There are six main types of bankruptcies that you can file for which can aid …
Unsecured Creditors: Know Your Rights
One of the main roles of bankruptcy trustees when managing a bankruptcy case is to ensure that the creditors' claims are repaid as much as possible before a debtor's debt is discharged. Creditors have the right to a hearing when it comes to liquidating the debtor's non-exempt assets for a Chapter 7 …
Most Inspiring Quotes to Help you Deal with Debt
It's not enough to simply pay off your debts; you need the inspiration to want to do it. Paying off debt is hard and involves sacrifice. It's only going to work if you realize that a debt-free future is possible for everyone. Debt and the dodgier sides of the credit industry rely on you …
