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Bankruptcy May Be Your Option

March 2016 Archives

Bankruptcy ruling could affect thousands

It is not unusual for people seeking a higher degree to take out student loans to help finance their education. However, if a person in Oklahoma with such loans faces financial struggles later on and decides to seek bankruptcy protection, student loans are typically not dischargeable. Fortunately for some, a recent ruling in one case could affect how certain loans related to education are treated.

Company seeks Chapter 7 protection

Each business in Oklahoma likely has its own business plans and goals in place. However, most simply want to see success, often measured by profit. Regardless of the effort placed by employees, there are frequently circumstances beyond the control of a business that could result in overwhelming debt. As a result, seeking Chapter 7 bankruptcy protection may be the best option.

Seeking debt relief through bankruptcy

There are many people in Oklahoma who are living a life they never thought they would. As result of unemployment or an unexpected illness, they are left swimming in debt, wondering how they will ever meet their financial obligations. For some, the best option for debt relief is filing for bankruptcy.

Chapter 11 filing will give Sports Authority greater flexibility

With the advent and the relatively recent popularity of the Internet, many companies across the country have changed the way they do business. In order to remain successful, businesses in Oklahoma have had to place energy and money into bulking up their ability to engage in e-commerce as well as make upgrades to their store to encourage foot traffic. One company with stores in 41 states has recently made the decision to file for Chapter 11 bankruptcy in order to keep up with other companies in the same industry.

The Chapter 7 bankruptcy process

There are many people in Oklahoma who are struggling with debt. Some are so deep in debt that simple solutions, such as decreasing spending, are ineffective. Their stress is often compounded by the harassing calls of their creditors. Fortunately, Chapter 7 bankruptcy may be an option to help manage such a person's financial problems. However, the process can be complicated.

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