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June 2016 Archives

How Chapter 11 bankruptcy actually works

This blog recently discussed the way business bankruptcy can help struggling businesses and professionals. A closer look at Chapter 11 bankruptcy may help business owners, professionals and others seeking debt relief better understand how bankruptcy may be an option to consider. Chapter 11 bankruptcy provides an option for businesses with heavy debt burdens to reorganize debts.

Bankruptcy options can help businesses and professionals

Businesses are not immune to challenging financial times. A decline in sales and profits, as well as tax challenges, may present significant difficulties for a number of companies struggling to stay in business. Business and commercial bankruptcy options are available to help struggling businesses and professionals faced with tough economic times or other financial challenges. Whatever led to the circumstances the business or professional is facing, reorganization bankruptcy options may be available to help them through it.

What bankruptcy means for a business's investors

Owning stock is a way for a Cleveland resident to own part of a company. Through exchanges like NASDAQ and the New York Stock Exchange a person can purchase shares in a variety of companies across a diverse collection of industries. Companies that offer stock to investors are often called publicly traded entities, and when a business is publicly traded it becomes accountable to those individuals and organizations that have invested in it.

What are the benefits and shortcomings of Chapter 13 bankruptcy?

Last week this Tennessee bankruptcy law blog explored some of the advantages and disadvantages of filing for Chapter 7 bankruptcy. This week's topic addresses the benefits and shortcomings of Chapter 13 bankruptcy for American consumers. Though the information provided in this post may be relevant to an individual's particular financial situation or legal matter, it should not be relied on as legal guidance or advice. However, it is important to consider the major component of the process so individuals are prepared to discuss their questions about the Chapter 13 bankruptcy process.

Before filing, consider benefits and drawbacks of Chapter 7

Dealing with financial problems often means making difficult decisions. Tennessee residents who choose to file for bankruptcy must cope with some very difficult elements of the legal process. Specifically, individuals who pursue financial relief through Chapter 7 bankruptcy must endure liquidation procedures. Liquidation involves selling off a person's possessions in order to secure enough money to satisfy his or her bankruptcy creditors.

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