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January 2016 Archives

Addressing financial problems through business bankruptcy

Last week this Cleveland bankruptcy law blog looked at how business bankruptcy may offer struggling businesses the opportunity to achieve fresh starts. For some readers it may have provided a wake-up call about the financial health of their own business entities. It can be challenging to admit that one's own business is failing to thrive in its market, but doing so and taking action can be important first steps towards keeping a small or large business's doors open.

Why would I want to undergo business reorganization?

Tennessee residents who open their own small businesses understand the amount of blood, sweat and tears that have to be expended to get their enterprises off of the ground. Starting a business can be a labor of love that expends more time, energy and money than a person could ever contemplate. For these reasons, when a small business begins to struggle financially and is threatened with closing its doors, its owner may begin to search for responsible ways to keep the business's door open.

Interest rate increases can grow credit card debt

Once a Tennessee resident opens up a new credit card, he or she is bound to the terms of the credit card agreement. Usually included in the terms and conditions that one agrees to abide by are provisions related to the interest rates applicable to the card. Though credit card companies can change the interest rates that they charge card holders, they are legally bound to do so only under certain conditions.

What exactly is personal bankruptcy?

Bankruptcy has been a part of American jurisprudence for quite a long time and many people have heard of the term. Although its presence in the news is rather ubiquitous, some readers of this Tennessee law blog may not actually know how this multi-faceted legal process is defined. This post will be dedicated to explaining what bankruptcy is to an American consumer.

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