Latest on the Bankruptcy Blog

Summer is here, and with it comes the excitement of planning a well-deserved vacation! But let’s face it, vacations can be expensive and sometimes feel out of reach, especially for families on a budget. However, this doesn’t have to be the case. You can still have an unforgettable summer getaway without breaking the bank. In  … Read more

In a move that has sent ripples through the retail industry, Rue 21, the popular teen clothing chain known for its affordable fashion, has filed for bankruptcy. This development is a significant indicator of the shifting sands beneath the retail sector’s feet and brings to light several critical issues affecting not just Rue 21 but  … Read more

Filing for bankruptcy is a significant decision for any business, often seen as a last resort when financial turbulence becomes too severe to manage through conventional means. It’s a process shrouded in misconceptions and fears, partly because its implications are far-reaching, affecting not just the business but also its employees, customers, and creditors. The Basics  … Read more

When businesses struggle to maintain financial growth and profitability, the options can be limited. Many businesses will be forced to choose between reorganization or liquidation. In a reorganization, the debtor retains ownership of its assets and continues business operations while renegotiating debt repayments with creditors. In a liquidation, the creditors seize control of the debtors assets  … Read more

Tax season can be a dampener for debts and a boon for those who tread a careful path to maximize their refunds. In an intricate web of legal jargon and financial complexity, understanding how to leverage tax laws to your advantage is not just a good idea—it’s a financial imperative for many. This comprehensive guide  … Read more

For millions of people around the globe, the weight of debt can be an insurmountable burden, impacting everything from personal relationships to mental health. If you find yourself amidst the complexities of financial borrowing, know that you’re not alone and that there are pathways to relief. Understanding Debt and Its Impact Before you can set  … Read more

People often view bankruptcy as a last-ditch effort to get out of debt when all other options have failed, but did you know that filing for bankruptcy can actually save you money in the long run? Yes, it is true. Not only does it give you the relief you need from insurmountable debts, but it  … Read more

Chapter 13 bankruptcy is a legal tool that allows individuals to reorganize their debts and create a repayment plan over a period of time, usually three to five years. If you are considering filing for Chapter 13 bankruptcy, it’s important to understand the Chapter 13 timeline, as it can help you know what to expect  … Read more

Filing for bankruptcy under Chapter 7 can be a challenging process, especially for first-time filers. It requires a lot of time and dedication to get a fresh start in life. One of the critical elements of filing for Chapter 7 bankruptcy is understanding the timeline. Knowing the Chapter 7 timeline can help you prepare for  … Read more

Debt can be overwhelming, and it can seem like there is no way out. However, there are options available to help you get back on track financially. One of those options is Chapter 13 bankruptcy. While it may seem daunting, Chapter 13 can actually serve as a lifeline for those struggling with debt. What is  … Read more