Reduced sales and profits often cause a business bankruptcy, although tax problems are also a common reason for having to confront tough financial times. Business owners typically declare a business bankruptcy with a Chapter 11 filing, and readers in Cleveland will be...
Month: January 2013
Americans owe more than $1 trillion in credit card debt
Many people living in the Cleveland area are struggling with credit card debt. Often, people use credit cards to make it through a tough financial stretch only to find themselves unable to pay the debt later on. For many Tennessee residents, credit card debt is a...
Large settlement may bring foreclosure relief
During these difficult economic times, many people in Cleveland, Tennessee, have found themselves facing serious financial challenges, up to and including foreclosure. Filing for Chapter 13 bankruptcy can provide some relief from the pressure of creditors and may even...
Pinnacle Airlines to file reorganization plan
When a company files for bankruptcy protection, the goal is usually to restructure the business so that it can stay afloat. Businesses typically file Chapter 11 bankruptcy to reorganize their debts and continue to operate. Reorganization under commercial bankruptcy...
Kodak hopes to rebuild after bankruptcy
Chances are most readers in the Cleveland area have used a product made by Kodak. For many, the name is almost synonymous with photography. However, with the widespread use of digital cameras, Kodak and its business of making film has struggled to remain profitable....
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