Law Offices of Jennifer LaRese, LLC
Call Today 203-583-8668

Chapter 7 Archives

Chapter 7 bankruptcy to aid furniture shop owners

A long-standing tourist attraction on a quaint New England main street is closing up shop, according to local business news. LaFlamme's, a furniture store in a rural part of a nearby state, has been a mainstay of the local business scene for some 50 years. However, its ownership has decided to file for Chapter 7 bankruptcy, citing unmanageable debt. Connecticut business owners may recognize this as a difficult but ultimately positive step for the owners to take to ensure their ability to compete effectively in the free market. 

How Chapter 7 bankruptcy can help

Debt is on the minds of a lot of Americans following what is often a costly holiday season. Connecticut residents may have spent more than they intended on gifts this year, leading some to re-evaluate their spending habits. But for some residents, debt is a far more challenging issue to overcome. In those circumstances, an experienced attorney can hep to determine how best to handle their debt issues, and for some, this could mean Chapter 7 bankruptcy relief. 

Conflict between competing companies ends in Chapter 7 bankruptcy

A commercial real estate data company is closing its doors following an extended legal battle with a competitor, according to business news. Connecticut data enthusiasts may be familiar with Xceligent Inc, which has filed for Chapter 7 bankruptcy in the wake of a legal battle with CoStar Group, Inc. CoStar had previously accused Xceligent of corporate espionage.

Identifying the value of Chapter 7 bankruptcy

For many Americans, debt is a real and pressing concern in their day-to-day lives. Here in Connecticut, many families carry a variety of debt, the most troubling being unsecured credit card debt, which can be notoriously difficult to pay down due to high interest rates. For those in dire straits, Chapter 7 bankruptcy could be a viable alternative, but it is important to understand what such a filing entails. 

More senior citizens file for Chapter 7 bankruptcy

There has been a rise over the last few years of senior citizens filing for bankruptcy. Here in Connecticut and elsewhere in the nation, more and more people over the age of 65 are using Chapter 7 bankruptcy as a way to offset mounting debts that can result from a variety of sources unique to the elderly. In many cases, seniors have reported a definite upward trend in their quality of life once they are out from under the burden of unsustainable debt. 

Is Chapter 7 an option when medical bills are making you sick?

Medical treatment is expensive. Even for minor injuries and illnesses, health care can come at a great cost. Connecticut readers know that even with a good insurance plan, a major accident or prolonged illness can wipe out savings and leave a family in extreme debt. Medical bills can quickly outpace your ability to pay, eventually leading to financial trouble and significant stress. However, Chapter 7 bankruptcy may be an option. 

Chapter 7 may be just the ticket to restored financial stability

Connecticut is not immune to economic downswings from time to time, just as most other states in the nation have experienced. When an individual resident or a business owner comes upon difficult financial times, it may be challenging to figure out the most viable option to rectify the problem. What works in one set of circumstances may not even be possible in another; for instance, some people are not eligible for Chapter 7 bankruptcy while others are.

Debt settlement versus Chapter 7 bankruptcy

In cases where an individual or company is facing overwhelming debt, several options are available. In some cases, a Connecticut resident might be offered the opportunity for debt settlement, a process wherein the creditor agrees to forgive portions of the debt in exchange for a mandated payment schedule. While this can have its benefits, it does not preclude Chapter 7 bankruptcy as an option for those who are unable to meet these requirements. 

Two construction companies file for Chapter 7 bankruptcy

Two construction companies that have been struggling financially for some time have filed for bankruptcy, according to business news. Both companies filed for Chapter 7 bankruptcy in U.S. Bankruptcy Court in the month of August. Connecticut business owners will recognize this as being an intelligent and prescient financial move on the part of both businesses, as Chapter 7 bankruptcy can help to ease the burden of debt for struggling companies. 

Appliance store files for Chapter 7

A popular appliance store has closed its doors, according to business news sources. Prestige Appliance, based in another state, filed for Chapter 7 bankruptcy on Sept. 7 in a United States Bankruptcy Court. As some Connecticut residents are aware, this move is meant to free the business owners from the constraint of a company's accrued debt and use its assets to pay down creditors.