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Posts tagged "Chapter 7 Bankruptcy"

Furniture business files for Chapter 7 bankruptcy

A furniture business best-known for its iconic 20-foot artistic chair installation is closing its doors after many years in operation. Owners of LaFlamme's had previously filed for Chapter 11 bankruptcy protection, but has since upgraded its filing to Chapter 7 liquidation. Kentucky small business owners can likely empathize with the bittersweet nature of closing a cherished business while simultaneously recovering financial ground in preparation for the next attempt. 

Explaining Chapter 7 bankruptcy

There is a great deal of stigma and misinformation that surrounds the practice of filing for bankruptcy. However, for some Kentucky residents facing insurmountable debt, Chapter 7 bankruptcy in particular can be extremely useful in handling this debt problem. It is important for residents to have a full understanding of what Chapter 7 entails before seeking out the necessary legal support to begin this process, however. 

Chapter 7 a viable way to handle outstanding holiday debt

For many Americans, the holiday season is an opportunity to spend time with friends and family, and to exchange gifts in the spirit of the season. However, as some Kentucky residents are keenly aware, overspending and going into debt for the sake of the gift-giving tradition is all too common. For those who were already in debt, this can add to a persistent problem. Thankfully, there are many strategies and tools available for Americans finding themselves in the red, from debt consolidation to Chapter 7 bankruptcy. 

Former top company files for Chapter 7 bankruptcy

A company that saw its shares drop down to fractions of a penny has closed its doors for the last time, according to local business news. Kentucky residents who follow business trends may be familiar with CD International Enterprises, which filed for Chapter 7 bankruptcy in December 2017. So far, no public comment has been made by the company, but the bankruptcy should be well underway as of this report. 

Data company files for Chapter 7

A prolonged legal battle with a competitor has led to a prominent data company closing its doors, according to business news local to the company. Kentucky IT and real estate professionals may be aware of Xceligent, a commercial real estate data company based in a neighboring state. Founded in 1999, the company has now filed for Chapter 7 bankruptcy after a sustained court battle with another company. 

Determining the efficacy of Chapter 7 bankruptcy

For elderly people, financial stability is perhaps even more important than it has ever been. Kentucky residents of retirement age know that looking after debts is of paramount importance, especially considering the litany of ailments that can influence a senior citizen's ability to make sound decisions for himself or herself. For those facing insurmountable debt, the support of financial experts can help to determine the right course to financial stability, be it consolidation, Chapter 7 bankruptcy or some other tactic. 

Chapter 7 bankruptcy can help curb credit card debt

U.S. residents struggle with some of the highest per-household debt rates in the world. Unsecured debt like credit card debt can swamp a Kentucky family, leaving the household to struggle under the weight of high interest rates. It may be helpful, in the face of rising credit card use, to consider options for debt relief, from consolidation to Chapter 7 bankruptcy. 

Determining the value of Chapter 7 bankruptcy

In modern American life, debt is an unavoidable reality. Many Kentucky households carry an average of thousands of dollars in different types of debt, most specifically credit card debt that can quickly become challenging if not impossible to surmount. Thankfully, there are a variety of options available to manage that debt, including Chapter 7 bankruptcy. However, it is important for an individual or family considering this kind of debt relief to understand what it entails. 

Tech company files for Chapter 7 bankruptcy

What began as a single store closure has resulted in the shutting down of a chain of tech stores across the United States, according to business news. Kentucky residents may be familiar with TechShop, which has brick-and-mortar locations across several states. Sources are reporting the company has filed for Chapter 7 bankruptcy after battling financial troubles for some time. 

Aerospace company files for Chapter 7 bankruptcy

A small aerospace company that has had reasonable success in the last five years has shuttered its hangars, according to the bankruptcy court local to the business. Kentucky aerospace enthusiasts may be familiar with XCOR, based in a West Coast state, which has declared Chapter 7 bankruptcy. The company's assets and liabilities have not yet been made public.