In 2019, approximately 5,484 Americans filed for bankruptcy protection each day. While factors such as healthcare costs, foreclosures and job loss continue to be catalysts for bankruptcies, the majority of filings tend to be linked to consumer debt. To meet the demand of consumers seeking “do it yourself” bankruptcy alternatives, various web-based businesses and software firms have cropped up, […]
Iowa Bankruptcy
What Are The Iowa Bankruptcy Exemptions? Iowa law protects all or a portion of your property from being seized by creditors or the bankruptcy trustee in a Chapter 7 bankruptcy. In a Chapter 13 bankruptcy, you are generally allowed to keep all of your assets and property. Certain exceptions may apply, so it’s wise to […]
Bankruptcy Discharge
What is The Definition of a Bankruptcy Discharge? A bankruptcy discharge is an order given by the court after a Chapter 7 or Chapter 13 bankruptcy case. The debtor is released from any responsibility to repay the obligations that have been dismissed by the decree. Creditors are subsequently barred from pursuing any further collection action […]
PG&E Bankruptcy
For PG&E To Survive And Thrive When It Emerges From Bankruptcy, It Must Achieve Four Goals After 18 months in bankruptcy, California’s biggest utility has emerged victorious. It is confronted with the same issues that led it to this position in bankruptcy. The 18-month bankruptcy of Pacific Gas & Electric has concluded. It now has […]
Friendly’s Ice Cream Bankruptcy
Friendly’s: The Rise and Fall Friendly’s announced on November 2, 2020, that it filed Chapter 11 bankruptcy owing to the “catastrophic effects of COVID-19.” Friendly’s: The rise and fall of the fast-casual chain known for its ice-cream and diner-style meals, filed for bankruptcy just 85 years after it was founded in 1935. Friendly’s was established […]
How Does Bankruptcy Work
What is Bankruptcy and How Does It Work? If you are in deep debt and have no other options, bankruptcy may be an option. You should be aware of the risks and benefits associated with such a drastic move. We will explain how bankruptcy work and help you decide if it is the right option […]
Art Van Bankruptcy
The Van Elslander Family Is Buying Back Art Van Furniture’s Rights To Its Name Gary Van Elslander (the founder’s son) offered $6 million to acquire the name rights through a family investment company called VEC. The transaction was authorized by a bankruptcy court judge overseeing Art Van Furniture’s ongoing liquidation case. The legal rights to Art […]
Windstream Bankruptcy
Windstream Emerges After Chapter 11 Reorganization Windstream Holdings declared Monday that it was free from Chapter 11 bankruptcy protection. Windstream, a privately-owned business, has eliminated more than $4Billion in debt and has approximately $2 billion available for future development. Windstream was established in 2006 as a traditional telecommunications company. Windstream is now a software and communications company. […]
Thomas Cook Bankruptcy
Thomas Cook Airlines: Rise & Fall Thomas Cook filed for bankruptcy in 2019, leaving thousands of travelers stranded overseas. Thomas Cook’s origins Thomas Cook is a rare travel company that can trace its history back to 1841. Cook hired a Midland Counties Railway train to transport 500 people from Leicester, England, to Loughborough. It was […]
Sears Bankruptcy
Sears’ Future is in Jeopardy Sears Holdings, the parent company of Sears and Kmart, filed into bankruptcy less than two years ago. Although the business that emerged from bankruptcy had much less debt, it is nonetheless precarious. Sears has struggled in the year since it emerged from bankruptcy. The coronavirus epidemic may spell the last […]