Across the Midwest, family-owned farms are still struggling to make ends meet after a difficult start to the growing season. Farmers and fishers in the region are facing large debts without an income to match the required monthly payments. Because of these financial difficulties, more and more families are filing for bankruptcy or seeking other
If you are unable to meet your monthly debt payments and don’t know how to get yourself out of your current financial situation, bankruptcy might be a valuable option for government-addressed debt relief. Filing for bankruptcy is a process that’s frequently given a negative image, primarily because of the impact it has on your credit
The economy we live in allows for rapid financial shifts for individuals and businesses alike. While these changes can be positive, there is often a greater chance that you or your business will face negative outcomes as a result. For those who own and operate a retail business in the U.S., the reality of how
Chapter 13 bankruptcy is a format of debt reorganization most common for individuals and some types of businesses. Overseen and administered by a standing bankruptcy trustee, a Chapter 13 case takes secured, unsecured, and priority debts and alters them into a consolidated repayment plan that lasts three to five years depending on the debt amount
Ever since people have learned to grow plants and care for livestock, farming has proved to be one of the most difficult occupations in which to make money. Because farming is so dependent on natural conditions, it’s inevitable that it is often filled with hardship. In today’s global economy, and in the face of changing
Filing for bankruptcy can be a long-term solution for many financial problems, from credit card debt to car loans. Bankruptcy can also prevent and resolve the issue of a looming foreclosure. If you are struggling to meet debt payments each month, including those on your mortgage, bankruptcy might be the right choice for your household.
If your debts are severely affecting your quality of life or the function of your business, it may be the right choice to look for realistic debt relief options. While some debt relief options are possible in negotiations with creditors and third parties, filing bankruptcy offers truly permanent, court enforced/sanctioned solutions for debt relief. When
Businesses may thrive or fail for a wide range of reasons in a nuanced and ever-changing economy. If you are struggling with a failing business, you should never feel shame in seeking debt relief. Instead, understand that you are taking assertive action to protect yourself, any other parties involved, and even your business itself in
Our economy is a complex system that affects even simple business formats. Businesses of all shapes and sizes can thrive or fail depending on a wide variety of economic circumstances. When economic factors cause financial changes to a business, they have consequences for everyone involved, including owners, investors, customers, and employees. Failing businesses often have
Since the establishment of the United States as an independent country, the laws of debt, lending, and bankruptcy have evolved into what they are today. With factors like social and cultural gravity, economic structures, population size and demographics, political leanings, and even religious ideologies, all of our country’s laws, including the bankruptcy code, have fluctuated
