Chapter 11 bankruptcy is a type of bankruptcy that is most often associated with companies. This is because the filing makes it easier to deal with a situation in which there are high debts and high incomes involved.
Sears CEO Eddie Lampert is considering a bid for some of the retailer’s popular brands, like Kenmore, as well as some real estate. It could help the company avoid liquidation.
If you run a family farming business in the state of Florida and are struggling with debts, it is likely that you are considering the options that you have to improve your situation. While trying to repay debts alone can theoretically be possible, constant communication from creditors and a potentially unprofitable company can make this strategy an extremely challenging one.
If you are struggling with managing debts that have arisen over time, it is likely that you have been finding it difficult to hold yourself accountable when it comes to sticking to your monthly budgets. If you bury your head in the sand and ignore your repayment responsibilities for long enough, it is possible that you will face very serious consequences. For example, you may lose your home and have your car repossessed.