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September 2016 Archives

Creditor disputes threaten the sale of Cosi Inc. to lenders

There are any number of reasons why businesses in Salem and throughout the rest of the U.S. may struggle financially. The key to moving past them may often be to recognize the most effective ways to manage debt rather than running from it altogether. This may assure a business the right to remain in operation as it works its way back onto a firm financial ground. In many cases, the best way for businesses to manage their debts is to do it through bankruptcy. A reorganizational Chapter 11 bankruptcy may allow a company and much of its leadership to stay together and find financial solutions without the threat of continued actions from creditors hanging over its head.

When should you file for bankruptcy during divorce?

Financial difficulties may certainly end up taking a toll on a marriage. If you and/or your spouse’s money troubles has compelled either of you to seek a divorce, then you could end up facing two potentially life-altering decisions: ending your marriage and filing for bankruptcy protection. If you happen to be seeking debt relief through bankruptcy at the same time that you are initiating divorce proceedings, then the question as to whether it is wiser to file bankruptcy before or after your divorce is finalized may arise.

Understanding out-of-pocket expenses

Many may assume that those in Salem who struggle to pay their medical bills only have such a problem because they do not have health insurance. However, statistics show that health insurance does not guarantee that one will avoid the struggles that come with medical debt. Information shared by shows that 10 million Americans who have insurance still have difficulties affording their medical expenses.

Should you surrender your home in your bankruptcy?

If massive debts have forced you into a position to consider bankruptcy, then one of your main concerns may be what will happen with your home in Salem. If you are current on all of your mortgage payments, or you have adequate equity in the property to protect it under New Hampshire’s Homestead Exemption, then you may able to keep your home (the state’s statute’s currently show that exemption amount to be $120,000). However, you may want to first contemplate whether it is a wise decision to keep your home.

Bankruptcies and business partnerships

Businesses in Salem may, despite their differences in size and scope, face many of the same financial challenges. These may range from unrest in economic markets to simple changes in consumer demand. In many cases, these challenges may be bad enough to force companies into bankruptcy. According to data shared by, an average of 46,826 businesses in the U.S. sought bankruptcy protection between the years of 1980 and 2015. While the struggles that many companies encounter may be shared, their impact is often felt disproportionately, particularly with small businesses.

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Nashua, NH 03062

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