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June 2016 Archives

What should you do if your medical claim is denied?

Many of those in Salem who have health insurance may be surprised to learn that simply having it does not necessarily guarantee coverage. Insurance claim denials may easily cause worry, given that medical debt is the primary reason behind most personal bankruptcies in the U.S. So what should you do if your medical claim is denied?

Preparing for your 341 meeting of creditors

Filing for bankruptcy can be intimidating. While your concerns are understandable, we here at The Law Office of Paul Petrillo can tell you that the Chapter 7 process is primarily designed to help you more than anything else. Early on in the process, a meeting (known as a 341 meeting of creditors) is convened between you and the bankruptcy trustee in order to review your initial petition. Knowing what to expect from this meeting may help assuage any fears you may have.

Hastings looking for ways to keep its doors open

An important element of maintaining a thriving business in Salem is being able to adapt to changes in the market that are driven by consumer demand. However, there may be times when those changes occur so rapidly or prove to be so extensive that virtually no company could hope to deal with them successfully. The financial strain that may result from such a massive market shift could leave companies with little time to discover other potential revenue streams. In these cases, a Chapter 11 bankruptcy may provide business owners with the protection and time needed to reorganize themselves and secure the financial support needed to stay afloat.

The Chapter 11 exclusivity period

Business owners and executives in Salem looking to save their companies from going under due to massive debts may view a Chapter 11 bankruptcy as their most viable option for doing so. Thus unique form of debt relief may allow a company’s leadership to reorganize itself in an effort to better address its financial needs and concerns going forward. Yet seeking reorganization through a Chapter 11 can be a very complex process, one that, if managed incorrectly, could potentially serve to exacerbate a company’s struggles.

Understanding credit counseling

Oftentimes, Salem residents may believe their debt problems to be so extreme that they have no choice but to file for bankruptcy. In some cases, that may indeed end up being their best option. However, there are other resources available to help deal with debt prior to making the decision to seek bankruptcy protection. The chief among these is credit counseling.

Law Office of Paul Petrillo
One Tara Boulevard
Suite 200
Nashua, NH 03062

Phone: 603-635-4149
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