Bankruptcy Law Blog

Many businesses, especially smaller businesses, can feel the effects of any change in their local economy. For example, if a tourist area in California known for skiing has a long and snowy winter, the businesses in the area will thrive. It also works the opposite way. For example, if a business in a tourist area…

The recent downturn in the economy has caused many in the Sacramento area to rethink what they do with their money. Many have cut down spending and created strict budgets. Many others have turned to various forms of debt relief to survive. One form of this debt relief is a tax relief on forgiven mortgage…

The most recent economic downturn has taken its toll on businesses. Many businesses have been forced to turn to business bankruptcy to survive or move on from a failing business. Business bankruptcy is known as Chapter 11 bankruptcy. Filing for bankruptcy stops all creditors actions immediately, which includes mechanics liens. A power wholesaler and its…

In a sign of increasing consolidation in the video game market, Agoura Hills, California game publisher THQ has filed for Chapter 11 bankruptcy. THQ is known for publishing games licensed by World Wrestling Entertainment, as well as its “Saints Row” series. The company’s president recently stated that in the current market, only a top handful…

Running a business is a complicated and difficult task. Trying to run a business in a down economy is almost impossible. This unfortunately forces many business owners to file for business bankruptcy to get out from under the debt. The most recent business that has had to turn to Chapter 11 is Sacramento’s Le Rivage…

The current economic climate has caused many families to reevaluate their financial situation. With the holiday season approaching, parents are in the process of buying gifts for their children. Financial experts, however, are suggesting that instead of adding to many their already high credit card debt, American parents should start a savings plan for their…

These tough economic times have been difficult for many people, including a number of residents of California. This has led many families to turn to Chapter 7 bankruptcy for relief. Bankruptcy may be the only way for some individuals to work their way out of debt. The current times have hit many individuals including elected…

During strong economic times, Americans are able to rely on cash to make purchases. But in tougher economic times, like now for most Americans, families turn to credit cards for more purchases to get by. This increased credit card use can lead to a substantial increase in credit card debt. A recent study by TransUnion,…

Businesses in Sacramento and elsewhere are successful due to many parts working together simultaneously. When the economy is struggling, it is even more essential for a business to have all its pieces working in harmony. But if one part stops working, then the business may choose to file for business bankruptcy. Hostess Brands Inc. is…

The recent recession has forced many individuals, especially students, to turn to credit cards to pay for every day necessities. This has led to an increase in both credit card debt and student loan debt. According to the Federal Reserve, in September, consumer borrowing rose to $11.4 billion, and total consumer debt rose to $2.74…