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Chapter 7 Archives

What is straight bankruptcy?

Debt has been accumulating for years. Not only have you spent too much, but you had some unavoidable costs -- medical bills -- and you lost your job. In short, the financial situation spiraled out of control. You know that you need to find some sort of long-term solution, and you're thinking about bankruptcy.

4 signs that bankruptcy is on the horizon

Bankruptcy is simply a legal process through which you take care of your outstanding debt. The court system understands that financial plans do not always work out. You take out a loan and then lose your job. You lose assets in a divorce. You get hurt and face overwhelming medical debt. It happens. Bankruptcy offers one potential solution.

Why pick Chapter 7 over Chapter 13

Deciding between Chapter 7 and Chapter 13 can be hard when facing bankruptcy. Both have their advantages and disadvantages. Plus, every situation is unique. Which one is best for you really depends on the specifics of your situation. The answer is different for everyone.

Bankruptcy likely for nonprofit that owes IRS money

A nonprofit organization based in Manchester is slated to file for bankruptcy protection, according to a recent news report. The nonprofit, known as Serenity Place, is well behind on tax payments to the Internal Revenue Service (IRS). The nonprofit was known for providing drug-abuse treatment services in an effort to fight the opioid crisis in the state.

Bankruptcies increased in 2017 in state of New Hampshire

The total number of bankruptcy filings increased in 2017 in the state of New Hampshire, according to a report. The increase, which was a miniscule 1 percent, is the first increase for the state since 2010. In fact, the number of bankruptcy filings rose twice in 2017; once for the overall year and in the month of December.

TechShop filing for Chapter 7 and closing all stores

TechShop has announced that it is filing for Chapter 7 bankruptcy and will close all of its locations across the country immediately. The company filed for bankruptcy on Wednesday, November 15, and the CEO sent a memo to all of its locations notifying them of the filing. There are 10 locations across the country that will close as well as a small corporate facility.

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