Buying a home can be an exciting and overwhelming time for a Pennsylvania resident. Along with the joy of having one's own house and the fun of turning it into a space to enjoy with friends and family comes the stresses of making mortgage payments and handling the...
Year: 2016
The number of businesses filing for bankruptcy is rising
Despite what many people in Pennsylvania think, seeking protection from creditors does not have to be the end of a company. In fact, filing for bankruptcy offers businesses a chance to reorganize their assets and holdings in a more efficient way, and sometimes the...
Leading golf equipment maker seeks bankruptcy protection
Many boomers will find it difficult to believe that the venerable game of golf is falling into disfavor in North America, including in Pennsylvania and states with similar demographics. Apparently, millennials have not become interested in the game due to its slowness...
Consumer with student loan debt may benefit from bankruptcy
Student loan debt is at a record $1.35 trillion, and the situation may pose ominous threats to domestic economic stability. It is therefore puzzling to some why the United States Congress went to such lengths in 2005 to make it so much harder for consumers to...
Volunteer fire company seeks reorganization in bankruptcy
It may not be generally known that bankruptcy relief can be extended to public-service entities such as volunteer fire companies. Those kinds of nonprofit organizations can, however, obtain relief from creditors and an opportunity to reorganize in a Chapter 11...
Consumer bankruptcy filing may be indicated by certain formulas
For consumer borrowers in Pennsylvania, a calculation called the debt-to-income ratio is sometimes helpful in determining whether the consumer can pull out of the debt situation without filing bankruptcy. A debt-to-income ratio of 20 percent is considered low by the...
Bankruptcy may erase unsecured debt and allow retention of house
Consumers in Pennsylvania who are so overwhelmed with unsecured debt that it would take many years to pay their way out of it may be concerned about how to resolve the issue. When an individual or married couple cannot pay a reasonable amount each month toward their...
Online publication Gawker weighs bankruptcy outcome and choices
Corporations that publish tabloids and disseminate yellow journalism are vulnerable to incurring one or more massive judgments that may threaten their financial viability. This can happen to a Pennsylvania business or to one in another state, and if the judgment is...
Twinkies reborn; Hostess out of bankruptcy and going public
Even the doomed Twinkie cake can emerge strong from a bankruptcy. Not seen so much in Pennsylvania, where the Tastykake brand remains supreme, the Twinkie was nonetheless the nation's best known sweet-tooth junk-food indulgence for many years. The company had to...
Bankruptcy offers the chance to restructure business debt
In Pennsylvania and elsewhere, bankruptcy is an option that consumers and businesses with overwhelming debt may find to be the key to their financial recovery. It is not a minimal remedy nor even an attempt to regulate an overactive or neglected budget. Bankruptcy is...