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August 2016 Archives

Gawker found bristles at bankruptcy information being made public

While filing for bankruptcy protection may be the best option some in Salem have to overcome massive debts, it still may not mean that the process will be an easy one. It is imperative that those who choose to take this step understand the challenges that may lay ahead of them. One of these may be the fact that given that bankruptcy cases are presented in court, their proceedings become a matter of public record. This means that anyone can potentially access information related to such proceedings, including the exact details of one’s assets and liabilities, as well as his or her financial struggles. Some may feel uneasy at the prospect of such information being made public.

Is bankruptcy really that bad?

There may be many cases where you or other Salem residents may find it impossible to avoid accruing inordinate debt. Such debts may push you to point of having no choice but to consider filing for personal bankruptcy. For many, bankruptcy is a “nuclear option,” or the absolute last step one should consider. This line of thinking is likely due to the many negative consequences that many associate with bankruptcy. Yet does seeking such protection really leave you in such bad shape?

Reviewing your medical financial assistance options

No one in Salem ever anticipates being stricken with a disease or suffering an accident. Yet as we here at The Law Office of Paul Petrillo can confirm, such incidents can, at a moment’s notice, alter yours and your family’s lives forever. Beyond the physical toll that medical problems can exact are also the financial concerns they force you to deal with. While such a prospect may seem remote right now, you could easily end up not being able to afford your medical bills. What are you to do then?

Troubled bankruptcy case for Sports Authority hits another snag

Businesses struggling with debt in Salem will often look to a Chapter 11 bankruptcy as their lifelines for getting out from under massive liabilities while still being able to remain in operation. However, simply filing for this form of bankruptcy protection may not guarantee that. A debtor maintains an obligation to present a viable reorganization plan to its creditors in order for this process to work. If it is unable to do so, it could face the potential of having its claim challenged and possibly converted to a Chapter 7, in which remaining open may cease to be an option.

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

Phone: 603-635-4149
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