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July 2014 Archives

Can medical debt lead to consumer bankruptcy?

When a Maryland resident falls ill or is seriously injured, the cost of receiving necessary medical treatment can be astounding. As the patient and his or her family work to adjust to the physical aftermath, the bills begin rolling in. Often, it seems as though there is no way out of the spiraling medical debt scenario. It is possible to negotiate with medical service providers, which can help reduce the costs associated with an illness or injury. However, It is important to know that consumer bankruptcy is also a debt relief option, should negotiation fail to bring the desired results.

Divorce debt can lead to the need for bankruptcy protection

The end of a marriage brings a number of changes. One prime example lies in one’s financial standing in the years following divorce. In some cases, the outcome of the property division process is financially disastrous, leaving a Maryland resident in need of bankruptcy protection. This is due to the fact that property division includes the division of not only marital assets but marital debt, as well.

Food company files for Chapter 11 reorganization bankruptcy

When a business runs into challenging financial situations, it has several options available. One option is to file bankruptcy, although there are several types of bankruptcies to choose from. If a company wishes to remain in business, the company may want to consider a Chapter 11 bankruptcy. This is what one company recently did and is now working with an investment banking firm in Maryland to help with its reorganization.

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