Is It Time for You to Declare Bankruptcy?
The coronavirus outbreak has forever changed the way people live. From mom-and-pop stores that had to close down because of control measures to countless individuals who lost their jobs for related reasons, the outbreak has made it difficult for many people to pay for bills, debts, and mortgage payments. If you’re in this situation right now, you may have already considered declaring bankruptcy. It can help reduce your debts and keep bill collectors at bay. But it also affects your...Read More
American Airlines Bankruptcy
American Airlines filed for Chapter 11 reorganization. That allows them to cancel existing contracts and renegotiate for better terms in the hopes that they can turn a profit and get out from under their debt. It can be a very effective business tool. Individuals can also do this, but it is called Chapter 13. Chapter 13 allows people to cancel leases or loans, certain home mortgages, credit card and other debt in the hopes that they can get out from...Read More