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May 2015 Archives

A closer look at Chapter 11 bankruptcy

Every year, Americans throughout the country file for Chapter 11 bankruptcy in order to find debt relief. Whether the person filing for Chapter 11 bankruptcy is an individual or a small business owner, those who move forward with a successful bankruptcy plan are often able to turn their financial situation around. In Salem, New Hampshire, people who are considering an individual bankruptcy or business bankruptcy should thoroughly evaluate their situation before filing, make sure they understand the ins and outs of the bankruptcy process and address their debt as soon as possible.

Negotiating debt vs. bankruptcy for struggling businesses

If there’s one thing that businesses, both large and small share, it’s debt. According to the Federal Reserve Statistical Release for the fourth quarter of 2014, nonfinancial business debt rose to $12 trillion in the U.S. When these debts force companies out of business, there’s typically no shortage of creditors lining up to have their accounts settled. This leaves outgoing ownership groups to ponder which course of action is best to settle those debts: offering a debt settlement or filing for bankruptcy.

Negotiating debt vs. bankruptcy for business closing their doors

If there's one thing that businesses both large and small share, it's debt. According to the Federal Reserve Statistical Release for the fourth quarter of 2014, nonfinancial business debt rose to $12 trillion in the U.S. When these debts force companies out of business, there's typically no shortage of creditors lining up to have their accounts settled. This leaves outgoing ownership groups to ponder which course of action is best to settle those debts: offering a debt settlement or filing for bankruptcy.

Looking at the Chapter 7 process for businesses

When a business is struggling with debt, they may experience a number of hardships every day and have no idea of how to address their financial challenges. Fortunately, there are a variety of debt relief options that can help those who are in this position tackle overwhelming debt and look forward to a fresh financial start. In Salem, New Hampshire, and around the nation, it is very important for any business that is going through this to take action as soon as possible.

The Energy Future Holdings Chapter 11 bankruptcy case

People in New Hampshire may be interested to learn about how Energy Future Holdings is doing now that the company has been in Chapter 11 bankruptcy for a year. The company, which filed its petition in April 2014, submitted a proposed reorganization plan to the court on April 14, along with a motion for a confirmation meeting. They additionally proposed mediation with creditors regarding an alternative plan.

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