The first step to take if you think you may need to file for small business bankruptcy is to find a good, reputable bankruptcy attorney.
Company continues to reminisce about past successes
Beautyrest announces plans to file for bankruptcy
According to an article in TBO, the movie production company Six Wives LLC filed for Chapter 11 bankruptcy in an effort to stop its creditors from selling the film “”The Six Wives of Henry Lefay” against their wishes. The film has been released overseas; but not in the United States.
The article said:
“Trouble brewed [...]
Years of unprofitability finally halts European discount carrier SkyEurope.
Imagine flying somewhere only to end up stranded at your destination, because the airline you used to get there suspended operations. This scenario turned into a reality for some SkyEurope passengers. The passengers were forced to buy tickets from other airlines in order to return home.
An article [...]
The Largest U.S. automaker and former cornerstone of American manufacturing will likely be headed to bankruptcy court within the next week. This news comes as General Motors and its bondholders could not come to an agreement Tuesday.
GM is offering the bondholders payment in the form of stocks for all of the money they are owed. The problem is that the stocks at current value are worth far less than the money they are looking for. GM needs about 90% agreement among the bondholders, but those that agreed with the terms Tuesday were definitely in the minority.
In related news, Chrysler which filed for bankruptcy protection last month could emerge from Chapter 11 protection in the near future.
Chrysler’s bankruptcy could be just what it needed to turn the company in the right direction. If you are in a dire financial situation, you should contact a Dallas-Fort Worth Bankruptcy attorney today to see if bankruptcy can help you.
Overshadowed by GM and Chrysler’s bankruptcy filings, a popular outdoor clothing retailer, Eddie Bauer, could be headed to bankruptcy before the end of the week.
The company hasn’t been doing well the last few years, and has lost money for three consecutive years.
Most retailers are feeling the pinch of the recession, but some of them, like Eddie Bauer, have been carrying large amounts of debt for years. As revenue has recently decreased, the bills have been impossible to keep up with.
Let this be a lesson to you if you are struggling with a large amount of debt. Companies file for bankruptcy to help them restructure for their future gain.
You can have the same opportunities in your own personal financial situation, so why not take advantage of them? If you would like to find out more about how bankruptcy can help you, don’t hesitate to contact a Dallas-Fort Worth Bankruptcy attorney.
If you are considering filing for bankruptcy, there are a few special circumstances where your best option would be to delay your filing.
The first is if you owe taxes that might become dischargeable in the near future, but aren’t currently dischargeable.
Second, if you are filing for divorce, are considering bankruptcy and you have an intertwined financial situation you should file for divorce before you file for bankruptcy.
Next, if you are expecting a huge tax refund, you should definitely wait until you receive it. If you file for bankruptcy first, the money will go towards any outstanding debts.
If you repaid debts to any family members within the last year, you should wait until a year passes since you paid them. If you don’t, the family member may have to pay back the money.
In conclusion, these are just a few situations where you should probably delay your filing, but you should speak with a bankruptcy attorney to find out what is right for you.
If you are considering filing for bankruptcy, there are a few special circumstances where your best option would be to delay your filing.
The first is if you owe taxes that might become dischargeable in the near future, but aren’t currently dischargeable.
Second, if you are filing for divorce, are considering bankruptcy and you have an intertwined financial situation you should file for divorce before you file for bankruptcy.
Next, if you are expecting a huge tax refund, you should definitely wait until you receive it. If you file for bankruptcy first, the money will go towards any outstanding debts.
If you repaid debts to any family members within the last year, you should wait until a year passes since you paid them. If you don’t, the family member may have to pay back the money.
In conclusion, these are just a few situations where you should probably delay your filing, but you should speak with a bankruptcy attorney to find out what is right for you.
