Eastman Kodak Co., headquartered in New Hampshire's neighboring state of New York, filed Chapter 11 bankruptcy in January of 2012. It has taken almost 19 months to get an approval from the bankruptcy judge.Chapter 11 bankruptcy is an option that businesses often...
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Month: August 2013
How your home factors in to the Chapter 7 equation
It is perfectly natural for any person in a desperate financial situation to consider bankruptcy. One of the first questions they are likely to consider is "how will this filing affect my home?" There are a few things to consider here, specifically in regards to a...
Negative amortization, and how it effects people and businesses
Have you ever heard of "negative amortization?" The term refers to debt that increases faster than you can pay it off. Usually negative amortization occurs because the interest on a loan or some credit exceeds the minimum payment that the in-debt person is making. But...
Bankrupt business owners have a few choices at their disposal
It doesn't matter where you are located -- businesses go bankrupt all the time. Companies that are big or small; firms that are international in scope or are simply a local small business; and organizations that have an extensive footprint on their industry, or are...
