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Sears Holding Corp, which owns Sears and Kmart, filed for chapter 11 bankruptcy protection last month. Not showing a profit since 2010, Sears has been unable to compete with giants like Walmart and Amazon. The iconic retailer is attempting to restructure over $5 billion in debt. Part of the plan is to close less profitable […]
Verity Health Systems filed for California Bankruptcy protection in August of 2018. The nonprofit health care system operated four San Francisco Bare Area hospitals with over $500 million in long-term debt and all healthcare facilities needing major updates. Even before their Chapter 11 bankruptcy case, the organization has been looking for buyers for its struggling […]
One of the great things about the Sacramento area is that there are rich opportunities for small businesses to thrive and flourish from Carmichael to El Dorado Hills. There are restaurants owned locally on every street. There are offices for every type of professional service, from dentists to certified public accountants. While these small businesses are […]
Filing for bankruptcy due to credit card or other debt may seem intimidating, but the fact of the matter is it might be the smartest financial decision you will ever make. Bankruptcy gives people the opportunity to have a fresh start on their finances and there are many benefits to filing that you should be […]
Below represents 3 common reasons you may benefit from filing for bankruptcy sooner rather than later: 1. Stop Foreclosure on Your Home Filing for bankruptcy will stop the foreclosure process the moment your bankruptcy documents are filed. You will be notified by your bank if they plan on foreclosing on your home. A deadline will […]
Running a business at any time can be difficult and stressful. However, over the last few years, running a business has been nearly impossible. It does not take very many missed or late payments for a business to be in financial trouble. This may leave the owner with few options to get out of debt. […]
Bankruptcy is not just for individuals and businesses. In certain states, municipalities can file for bankruptcy as well. Recently, the city of Detroit filed for bankruptcy, becoming the largest municipal bankruptcy in terms of both population size and debt load. On July 18, 2013, Detroit filed for bankruptcy. Detroit has approximately $18.5 billion dollars in […]
Many individuals dream of owning their own business. They want the freedom to be their own boss and the ability to grow and expand at whatever rate works for them. But when there is a change in the economy, many businesses may face financial hardship. This may be so serious as to require the owner […]
Running a business can be both a rewarding and difficult experience. When the economy changes, it can substantially affect a business owner’s ability to run their business. Sometimes, the only way for the owner to get their company out of a tough situation is to file for business bankruptcy. On Tuesday, a bankruptcy judge allowed […]
It doesn’t take much of a change in the economy for a business to be affected. Once an owner falls behind with one creditor, it doesn’t take much more to fall behind with most of them. This can leave a business in serious debt that the owner may or may not be able to get […]