If you have fallen behind on your payments or defaulted on a credit account, the risk of being sued cannot be ignored. Although filing a lawsuit is usually a last resort for creditors, who would much rather work with you on repayment of the debt than to go to court, if you do not take action to settle with your creditor then it may eventually resort to legal action. This post provides a brief overview of what that action may look like.
One American city’s continuing quest for debt relief has captured the nation’s attention over the recent past. The once booming industrial city is going through the largest public bankruptcy in American history.
It is no secret that the state of the economy is always changing. With it, business fortunes in Oklahoma and around the country also fluctuate. Often when a business runs into trouble, filing for bankruptcy becomes the only feasible option.