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Bankruptcy May Be Your Option

January 2016 Archives

Company seeks Chapter 11 bankruptcy

As business owners in Oklahoma are likely aware, businesses often go through periods of struggle. Many face difficulty as a result of market conditions. For example, if the market is flooded with a particular type of business, it may be more difficult to be successful. In some cases, the struggle to succeed can lead to overwhelming debt. One company that has been in business for almost 70 years recently filed for bankruptcy protection.

Low oil prices could lead to business bankruptcy

A variety of consumers in Oklahoma and across the country are rejoicing over the falling prices of gasoline. Some reports indicate that the price of a barrel of oil is at a 12-year low. While the average consumer might be rejoicing, the decrease in cost could lead some oil companies into overwhelming debt, potentially resulting in business bankruptcy.

Another coal company seeks Chapter 11 protection

Over the course of the last century, this country has seen significant evolution in all types of technology. While many of these advances are generally viewed as positive, many can create financial hardships for businesses. For example, many coal businesses in Oklahoma and across the country may have experienced hardship over the last few years as more businesses and individuals turn to resources purported to be more cost efficient and better for the environment. As a result, many coal businesses have sought the protection of Chapter 11 bankruptcy.

Financial relief for those struggling with debt in Oklahoma

Being an adult comes with a great deal of responsibilities. Unfortunately, these responsibilities often leave a person struggling with debt which can quickly accumulate. Many times, people in Oklahoma are left wondering if they will ever be debt free again. Fortunately, there are options available to provide some degree of relief.

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