The United States Bankruptcy Court for the Eastern District of Pennsylvania has compiled statistics from 2016 and found that just less than 10,000 people filed for bankruptcy. These are just the filings for a single calendar year. The most common people who file for bankruptcy include individuals and businesses who file under Chapter 7…

  How Trump’s Bankruptcies Differ from Others   Any business person will tell you that declaring bankruptcy is a common practice. Now when we say bankruptcy, we are talking about a business bankruptcy and not a personal bankruptcy. This is how a business is able to stay afloat unless the owner decides to sell it….

  In 1948, Charles Lazarus founded Toys “R” Us, what would eventually become a world leader in the sale of all things play. With over 800 stores in the United State at the beginning of 2018, consumers were completely unaware of the trouble that lurked just around the corner for the large toy chain. Most…

  What is a Reaffirmation Agreement and How Does it Help a Chapter 7 Bankruptcy? Chapter 7 bankruptcy controls the process of asset liquidation. The first question that is typically asked under this type of filing is the order in which debts must be paid and if the current debts are secured or unsecured. A…

  When we reach a point in our financial lives where bankruptcy seems like the only way out, it is important to consider the ramifications of such a decision. Specifically, as a graduate student, you may be overwhelmed with debt and may be considering the possibility of filing for bankruptcy in an effort to get…

  There comes the point in a company’s lifespan where it must decide whether to file for bankruptcy to save it from being broken up or fading away. The primary reason for filing is debt. By filing Chapter 11, a company can still keep operating while it settles on a payment plan by the bankruptcy…