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November 2014 Archives

How to choose between debt relief and bankruptcy

New Hampshire debtors searching for a debt relief plan might want to consider bankruptcy. But before one goes down that route, there are other alternatives to consider. Each choice has pros and cons that should be weighed, and some options are better suited to different situations.

Business bankruptcy for New Hampshire companies

Public companies, in New Hampshire and elsewhere, sometimes find themselves deeply in debt. When this occurs, the business cannot operate efficiently. It may lose its line of credit or be unable to pay its employees. In these cases, a company has the option of declaring Chapter 7 or Chapter 11 bankruptcy. These are federal laws designed to protect creditors' rights while helping a company to either get back on its feet or close its doors.

Filing for bankruptcy in New Hampshire

Many New Hampshire residents struggle to cope financially with a household income that barely covers their monthly expenses. An unexpected illness, injury or layoff may quickly lead to bills becoming unmanageable, and many families facing these challenges resort to using their credit cards to make ends meet. If you are in a situation like this, you likely know how difficult it can be to escape a cycle of debt. You may also be familiar with the relentless nature of debt collection agencies.

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