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October 2016 Archives

Reports have American Apparel filing for bankruptcy again

A popular opinion amongst many in Salem may be that a company filing for bankruptcy is a sign of its impending failure. Bankruptcy protection, however, is not always meant to signal the end of an organization. In many cases, it may be the means by which it is saved. By reorganizing its liabilities as well as its corporate structure, a company can use bankruptcy as a tool to better itself. Yet sometimes it does not happen as smoothly as some would think. In certain cases, a second bankruptcy may be required to achieve the aims of a company’s stakeholders.

What is your EOB telling you?

Medical debt is among the primary causes of personal financial problems in Nashua as well as the rest of America (even for those who have health insurance). You may struggle with it simply because you do not fully understand the insurance claims process. That misunderstanding may lead you to mistakenly avoid your out-of-pocket obligations due to you believing that they will be paid by your insurance. Such confusion may be avoided, however, if you understand exactly how to read your EOB.

Analyzing the costs associated with a Chapter 7 bankruptcy

For many of those with whom we here at The Law Office of Paul Petrillo work with here in Manchester, a lack of funds in the face of mounting debt may leave them with little choice but to seek bankruptcy protection. If this accurately describes your situation, then such action may provide you with the debt relief that you have been desperately seeking. However, it is important to remember one thing about filing for a Chapter 7 bankruptcy: that too costs money. Understanding what those costs may be may help you to better determine if this is a viable option for you.

Understanding single asset real estate debtor filing requirements

For many businesses in Salem that may be struggling with debt, a Chapter 11 bankruptcy may offer an ideal solution for getting out from underneath those liabilities while remaining in business. For those debtors against whom creditors are preparing to commence action, filing for bankruptcy offers a reprieve from such action from the moment their petitions are filed. This period of injunctive relief is known as an automatic stay. However, there may be certain cases where an automatic stay does not provide the protection that a business may have been hoping for.

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

Phone: 603-635-4149
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