Chapter 7 bankruptcy is an important resource for struggling consumers seeking options to help them with their financial struggles. Chapter 7 bankruptcy is a personal bankruptcy option that can provide important protections to struggling consumers, as well as debt relief.
This blog recently discussed how Chapter 11 bankruptcy can help struggling businesses. Sears recently announced that it will close an additional 40 stores as part of its Chapter 11 bankruptcy process to help it in its efforts to return to profitability. The retailer is currently in the process of closing 188 stores including at least 4 in North Carolina, including one in Raleigh. Both Sears and Kmart stores are included in the store closures.
Bankruptcy can be an extremely helpful tool for recovering from poor financial circumstances. However, it can also come with a pretty significant knock on your credit score. An important thing to keep in mind is that this low credit score isn’t permanent. In fact, there are easy steps North Carolinians can take to start the process of rebuilding credit.
No one ever plans on having medical debt, but the bills from hospitalizations, treatments and life-saving drugs pile up for many Americans. In fact, medical debt is one of the leading reasons for filing bankruptcy in the United States. Even if you are unsure how you will ever pay off your bills, there is hope. Here are some ways others have tamed their medical bills.
It is important for struggling businesses to be aware that there are business bankruptcy options available for when they need help. Chapter 11 is a reorganization bankruptcy option for businesses wanting to remain in business and seek relief from overwhelming debt.