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Bankruptcy May Be Your Option

May 2016 Archives

Filing for bankruptcy has several benefits

There are many hardworking people in Oklahoma. Despite their efforts, however, they find themselves struggling with debt. This debt can occur for a variety of reasons but often accumulates as a result of circumstances beyond the person's control, such as an unexpected medical emergency or the loss of employment. For people who are suffering from overwhelming debt, filing for bankruptcy may be their best option for getting back their financial footing.

Oklahoma-based company seeks debt relief through bankruptcy

There are many businesses in Oklahoma that have hard-working employees at their helm, dedicated to seeing the success of the company. Unfortunately, such hard work is not the only factor that influences a company's success. There are many others, often outside of the control of those who want to see a company succeed, that could impact the amount of money a company earns and its debt. One Oklahoma-based company is likely aware of this after petitioning for bankruptcy in order to seek debt relief.

Clothing retailer Aeropostale seeks Chapter 11 bankruptcy

Several years ago, there were multiple options for retail stores aimed specifically at teenagers and young adults in Oklahoma and across the country. However, teenagers' tastes and shopping habits have shifted, leaving many of these stores struggling to maintain the same level of success that they experienced in years past. In fact, several have sought Chapter 11 bankruptcy protection. Aeropostale has been the most recent chain to seek such protection.

Discharging student loans during bankruptcy

There is much said about the cost of education these days. Many people who pursue a higher degree often leave college with a large amount of student loan debt. While many people in Oklahoma may have the misconception that student loan debt cannot be discharged through bankruptcy, this is not necessarily true. This debt could be discharged under certain circumstances.

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