Bankruptcy Blog2020-03-24T17:17:09-07:00

4 Things to Avoid Doing before Filing for Bankruptcy

When bankruptcy is the best option for resolving a serious debt situation, people usually do not run out and immediately file the paperwork to begin their case. Instead, they generally have to get their affairs in order, take a credit counseling class and prepare the necessary documents. This can mean that, commonly, it will be at least a month or so from when people decide to pursue bankruptcy to when they actually end up filing for bankruptcy. During this window of time, it can be crucial to be very careful to not do anything that could prevent the court from [...]

June 30th, 2015|

Prominent U.S. Grocer on Brink of Filing for Bankruptcy, Some Say

A&P, a grocer that has been doing business in the U.S. for more than 155 years, may be on the brink of bankruptcy, some are predicting. Last month, attempts to sell the company via auction were not met with any viable offers. Now, with only 400 locations open throughout the U.S., some expect that the stores will be sold piecemeal and that a bankruptcy filing may come any day. If it does, this would be the second bankruptcy filing for the company within a five-year period. Despite the speculation, however, A&P has not confirmed its intentions, telling Bloomberg that, “No decision [...]

June 20th, 2015|

5 Steps to Take When You Need a Financial Fresh Start

When you can’t seem to make any headway on digging yourself out of debt and improving your financial situation, it may be time for a financial fresh start. While the paths to getting this fresh start will be different for different people (depending on their debt situation and some other factors), in general, the following are some of the most important steps to take to realize this goal. Here’s What You Can Do When It’s Time to Overhaul Your Finances 1 – Get a clear understanding of your debt obligations. When you need a financial fresh start, here are [...]

June 10th, 2015|

Bankruptcy Judge Approves $26M Sale of RadioShack Name, Intellectual Property

A proposed sale of RadioShack’s name and intellectual property has just been approved a U.S. bankruptcy judge. According to the terms of the deal, the bankrupt RadioShack will sell its brand name and customer data to General Wireless for approximately $26 million. General Wireless, an affiliate of Standard General, reportedly acquired more than 1,700 RadioShack stores this past March for about $160 million. Sale, Auction Generated Some Controversy A bankruptcy judge has recently approved the sale of RadioShack’s name and intellectual property, a Denver bankruptcy attorney explains. Contact us for help getting a business out of debt. Although [...]

May 31st, 2015|

4 Steps to Prioritizing a Budget

Living on a budget is one of the most effective ways to know what you are spending and, consequently, keep your debt in check. However, if you’ve never put together a personal budget before, understanding how to prioritize it can be confusing if not challenging. Here’s a look at the steps you can take to prioritize your budget and, in doing so, make your dollars stretch as far as possible. How to Prioritize Your Budget 1 – Start with your essential living expenses. A trusted Denver Bankruptcy Lawyer explains how to prioritize your budget to avoid serious debt. Contact [...]

May 21st, 2015|

SkyMall Filed for Chapter 11 Bankruptcy

SkyMall LLC and its parent company, Xhibit Corp., have recently filed for Chapter 11 bankruptcy, citing increased competition from online retailers as one of the reasons for its waning popularity and profits. Another reason cited for the bankruptcy filing was the increased use of smartphones (and other devices) on flights, as more and more flights are offering Wi-Fi to passengers. “With the increased use of electronic devices on planes, we believe that fewer people pick up and browse the SkyMall in-flight catalog,” Xhibit noted in its bankruptcy petition and SEC filings. This bankruptcy case was filed in Phoenix, and the [...]

May 10th, 2015|

Fredrick’s of Hollywood Files for Chapter 11 Bankruptcy

After nearly 70 years in business, L.A.-based Fredrick’s of Hollywood – the racy lingerie retailer famous for introducing the push-up bra – has filed for Chapter 11 bankruptcy relief. Citing issues such as expensive leases, increased competition and declines in mall traffic/storefront sales, Fredrick’s of Hollywood Group, Inc. has noted in its Chapter 11 filing that it only has about $36.5 million in assets and that it is carrying roughly $106 million in debts and liabilities. The Next Steps for Fredrick’s… Fredrick’s of Hollywood has recently filed for Chapter 11 bankruptcy protection. Contact our Denver bankruptcy attorney for experienced [...]

April 30th, 2015|

2014 Credit Card Debt Statistics: See How You Fare (Pt. 2)

Resuming 2014 Credit Card Debt Statistics: See How You Fare (Pt. 1), here, we will wrap up this discussion by taking a look at the amount of credit card debt the average U.S. consumer is currently carrying. More Fascinating 2014 Credit Card Debt Statistics Did you know that the average U.S. household has $15,600 in credit card? If you are drowning in debt, contact our Denver bankruptcy attorney for effective help getting a financial fresh start. The following statistics have been compiled based on data from the U.S. Federal Reserve, as well as other credible institutions. The average [...]

April 20th, 2015|

2014 Credit Card Debt Statistics: See How You Fare (Pt. 1)

Credit card debt is often one of the largest sources of debt people have, and it tends to be one of the most difficult to get rid of. In fact, even if you are good about making your minimum monthly payments, it can be hard to start making real headway on the principle if you continue to run up charges on your credit cards. A Denver bankruptcy attorney takes a look at some interesting credit card debt statistics. Contact our Attorney Jon B. Clarke for experienced debt relief help. While this may be as obvious as it is [...]

April 10th, 2015|

7 Holiday Spending Mistakes to Avoid (Pt. 3)

Ending our three-part blog series 7 Holiday Spending Mistakes to Avoid, below we will highlight some final ways you can avoid holiday spending mistakes this (and every) year! More Holiday Spending Mistakes to Avoid Mistake 6 – Not being careful to protect yourself from identity theft while you do your holiday shopping. One of the biggest holiday spending mistakes is ignoring real debt problems and spending anyways. Call us for help getting out of debt. We can help you get a financial fresh start in 2015. As holiday shoppers get ready to do some major spending, identity thieves [...]

November 18th, 2014|