Law Office of Paul Petrillo
Contact Us Today 603-635-4149
Menu Contact

Travel company turns to Chapter 7

When a business owner faces tremendous financial challenges, they may be unsure of what to do next. Overwhelming debt can make daily life difficult and leave companies looking for a fresh financial start in Salem, and across New Hampshire. For businesses struggling with debt, it is extremely important to take a close look at every option on the table. There are a variety of ways to find debt relief and for some firms, filing for Chapter 7 is a wise decision.

A Massachusetts-based company that resold river cruises recently filed for Chapter 7 bankruptcy protection. The travel company, which turned to bankruptcy following a growing number of trip cancellations in the past month, liquidated all of its assets.

In its bankruptcy filing, the company reports assets ranging from $500,000 to $1 million and $1 million to $10 million in liabilities. Furthermore, the company stated that it will not have any funds to distribute among uninsured creditors.

Whether someone wants to stop creditor harassment or just enjoy the peace of mind that debt relief can provide, there are all sorts of reasons why individuals and businesses file for bankruptcy protection. Before moving forward, it is crucial for people who are considering bankruptcy to review the different types of bankruptcy, carefully lay out a plan and address their financial problems right away. For some people, consulting a legal professional is an excellent way to explore their options, develop a better understanding of the bankruptcy process and finally put their burdensome debt behind them.

Source:, "Tom Harper files for Chapter 7 bankruptcy," Michelle Baran, June 8, 2015

No Comments

Leave a comment
Comment Information

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

email us for a response
Law Office of Paul Petrillo