Graham & Associates Law Offices, LLC | Serving all of Northeast Ohio

March 2014 Archives

Inaccurate bankruptcy filing could cost a man his protection

Nobody wants to file for bankruptcy, whether for business or personal reasons. There are situations, however, in which normal debt relief just won’t work. Bankruptcy exists as a helpful option for those who find themselves facing financial challenges that they simply cannot overcome. It is important to understand, though, that going about the process in the wrong way can leave you in even worse trouble.

Chapter 7 bankruptcy may relieve established retailer's debt

Whether you’re an individual or you own a company, if you are struggling with overwhelming debt, you may want to consider filing for bankruptcy. There are many different options, each with their own pros and cons, but the most common form of bankruptcy is Chapter 7. It is one way to get debt relief and overcome your financial challenges so that you can get a fresh financial start.

Bankruptcy filing will not affect plans for Ohio plant

Maryland-based enriched uranium producer, United States Enrichment Corporation, is planning to build an enrichment plant in Ohio, but first they have to contend with more than $500 million worth of debt. To manage all of this debt, USEC has filed for Chapter 11 bankruptcy with the hopes of restructuring the debt. Chapter 11 bankruptcy is just one of many debt relief options that businesses and individuals alike can take advantage of to get their finances under control.

Chapter 13 filing stops foreclosure sale on property

There’s a lot more to bankruptcy than one might initially think. The first reaction may be one of unnecessary negativity, with bankruptcy often being related to insurmountable debt or other such financial struggles. However, bankruptcy is not a mark of failure, and, depending on the type of bankruptcy filed, different results can be achieved. For example, if you’re looking to protect your property and pay your debt off with a more reasonable and affordable plan, then a Chapter 13 filing may be for you.