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Bankruptcy May Be Your Option

September 2016 Archives

Vaping company seeks Chapter 11 bankruptcy protection

As people in Oklahoma become more aware of the potential health effects of smoking, many people turn to vaping, often billed by relevant companies as an option with fewer detrimental impacts on a person's overall help. While the vaping industry has seen some degree of success in recent years, some are claiming that new FDA regulations could harm the industry. In fact, one company, NJoy, recently filed for Chapter 11 bankruptcy protection.

Federal restrictions prompts Chapter 7 filing

There are a variety of different factors that can impact the overall success of a company in Oklahoma, and some of them could be beyond the control of the company's decision makers. For example, some businesses may struggle as a result of market conditions or weather. For others, new government regulations can create complications. This appears to be what happened to one for-profit educational company, prompting it to seek Chapter 7 bankruptcy protection after a major source of its revenue was cut off.

How Tiger Woods impacted one company's bankruptcy decision

When a company in Oklahoma is successful, they often make decisions whether they should expand based on their past and current sales. Unfortunately, unexpected changes occur in the market, including the overall popularity of a sport, which can impact sales. One company, headquartered in a different state, that specialized in selling golf equipment cites several changes in market conditions as the impetus behind their recent bankruptcy filings.

Stay initiated by personal bankruptcy filing can relieve stress

There are people in Oklahoma who are struggling financially. Many of these are hardworking people who live within their means but experienced unexpected financial crises that disrupt their lives in a variety of ways. For example, a person who is faces a serious medical diagnosis may be unable to work. Because of the loss of wages, he or she may have no way to cover their medical bills and everyday living expenses. For such an individual, filing for personal bankruptcy may be their best option to a less stressful future.

Debt relief for those in Oklahoma struggling with debt

Many people in Oklahoma are careful financial planners. They live within their means and perhaps even save money each month in order to comfortably retire in the future. Unfortunately, even those who are careful with their money sometimes find themselves struggling financially. An unexpected job loss or staggering medical bills can quickly change a person's carefully laid plans for the future. Fortunately, The Colpitts Law Firm can help those struggling with debt seek debt relief.

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