A Chapter 11 bankruptcy, which may be referred to as a reorganization bankruptcy, is what businesses which dealing with financial distress may use to get debt relief. In a Chapter 11, a business will have to propose, and the bankruptcy court approval, a plan for...
For Floridians who are concerned about the status of their businesses and are facing personal financial challenges, it may be useful to look at the trends for bankruptcy filings. Since it is a new year and the ongoing health crisis is continuing to impact people...
The thought of losing one’s home to foreclosure is scary, especially when a family is not sure where they will live after the process settles. Still, for too many Floridians, job losses or other financial emergencies can mean choices between paying the mortgage and...
Floridians and people across the United States are facing significant uncertainty about their finances because of the current health crisis. This has placed many businesses in turmoil, left people out of work and called into question how difficult the circumstances...
We all know that times are hard for everyone, but especially for small businesses. And, without further state or federal aid, the fallout from our current times could cause a bankruptcy tsunami that could overwhelm the federal bankruptcy system. What happens if the...
Small businesses in the Tampa area may run into trouble with debt for a number of reasons. Businesses can run into a bump in the road of the overall economy or a particular sector in the market takes an unfavorable turn, meaning the business has to operate at a loss...
Florida business owners, like their counterparts across the country, have most likely come on difficult financial times. Their business might be suffering and it might be getting harder to stay open and keep paying people their wages. While business owners have a...
When Florida residents are considering their debt relief options, it is important to understand the different categories of debt they have and how this will affect their ability to discharge their debt through personal bankruptcy. Debts can be of two main types:...
Personal bankruptcy carries with it a variety of different, and important, protections that struggling consumers should be familiar with. One protection that kicks in right away once the filing party has filed for bankruptcy is the automatic stay. What is the...
It is far too easy to pull out a credit card when paying for items. Whether it is a large purchase or a small one, adding to the outstanding balance on a credit card can be risky. For those unable to manage their debt, it can create a growing problem that they feel...