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March 2018 Archives

Seeking relief through consumer bankruptcy during tax season

There are a multitude of scenarios in which a person in Maryland may begin to experience the trials of financial hardships. Regardless of how it occurs, those who constantly struggle to keep up with monthly payments may find themselves in search of relief, but with numerous available options, they may be uncertain how best to proceed. While many of those who experience severe financial struggles may wish to seek relief through consumer bankruptcy, they may be forced to wait on their tax refund to pay for the process.

Claire's Stores plans to seek reorganization through bankruptcy

The recent advent of online shopping has forced a multitude of businesses to experience a significant drop in consumer traffic in brick and mortar stores. This has left many businesses in Maryland struggling to keep up with the competition, and the financial challenges involved in a reduction in sales can leave a company in need of monetary relief. After experiencing similar concerns, a popular cosmetic jewelry chain is reportedly forming a plan to pursue financial reorganization through Chapter 11 bankruptcy.

Reorganization: Potential concerns re business credit cards

Many small business owners in Maryland and elsewhere have applied for business-related credit accounts for financial assistance. A small business credit card could prove useful under a variety of circumstances, and such accounts may even offer a variety of perks and rewards. However, owners might find it advisable to use caution with these accounts, as falling behind on payments could lead to financial challenges and a subsequent need for reorganization.

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Rockville, MD 20850

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