The bankruptcy filing for Gordmans department store has finally come to an end. The store is based in Omaha and it had a liquidation plan approved by a bankruptcy court. The approval for liquidation occurred just less than one year since the company entered into the process. The company had to enter bankruptcy because of high dividend payments to shareholders and beyond lackluster sales.
There are times in life where debt is perfectly fine to have. There are times in life where debt is not a good idea. One of those is credit card debt. It's not bad to have a small balance on your credit card, but having a card with a balance of more than a couple thousand dollars is just not good. Here's how you can determine if you have too much debt to your name.
Since 2014, a total of 19 brick-and-mortar retail companies have shuttered their doors due to bankruptcy. As of late, more companies have been able to remain in business and keep their employees even after exiting bankruptcy. This is due in large part to a new method that has involved help from landlords, creditors and vendors.
Bankruptcy is a personal issue that sneaks up on quite a few people. Even those who have their finger on the pulse of their finances might still be surprised by the realization that it's time to file. Then there are those who know they are headed in the wrong direction but can't seem to climb out of their debt issues. Here are some signs that you could be headed for bankruptcy.
A federal judge has forced the failed Fyre Festival into bankruptcy in New York. The ruling was issued late in August and includes the company that owns the festival. The judge approved an involuntary petition for bankruptcy that was filed against Billy McFarland and Fyre Fest LLC. The approval from the judge forces Chapter 7 bankruptcy.
Finding yourself in debt that continues to mount is quite an ordeal. Many people who find themselves in debt tend to have trouble getting out of it quickly. If debt continues to mount, you will need to find different ways to pay it down. Sometimes having a full-time job just doesn't help. Today, we will take a look at asset liquidation as a way to pay down debt.
You're going to file for bankruptcy. You've tried to cut back on your spending, but there's just no way to pay off what you owe. Your income doesn't fit your debt, at least not anymore.
Complaints filed against the bridal company known as Alfred Angelo continue to mount in the state of New York. The company unexpectedly closed its doors earlier this month, leaving brides across the New York area scrambling when it came to their wedding dress.
If you are living with deep debt, it's likely that you struggle each month to pay the bills either on-time or at all. You need to put a plan in place that can help you deal with deep debt. We aren't talking about car loans, student loans or a mortgage here. We are talking about thousands of dollars in credit card debt.
Filing for bankruptcy is a difficult decision for many to make, but is it a smart one for those who are struggling with debt? Not long after you decide to file for Chapter 7 bankruptcy, you might begin to wonder what to expect after the filing is complete. We will discuss what you can expect after the bankruptcy in today's post.