Author Archives for sperling

Bankruptcy and Business: Deciding on the Right Chapter to File for Bankruptcy

November 7, 2018 12:00 pm Published by Leave your thoughts

Frequently in this blog, we touch on the manner in which bankruptcy impacts business.  Many big-name businesses have been facing financial difficulties or have even filed for bankruptcy in recent months, such as Sears, Gibson Brands Inc., and Andy Warhol’s Interview magazine, just to name a few. It seems scary that these businesses have been facing financial adversity, seeing as...


Springing Back from Bankruptcy

October 24, 2018 11:13 am Published by Leave your thoughts

Many view bankruptcy as the end of the road – money runs out in business, or personal debt is impossible to manage, for example. The only way out for some is bankruptcy. But bankruptcy may actually help struggling businesses recover, and can even push business owners to increase their efforts and make their businesses not just survive, but thrive, and...


The Rate of Bankruptcy is Rising Among Older Americans

September 25, 2018 12:07 pm Published by Leave your thoughts

Retirement. That’s everyone’s goal after having worked for over 40 years. But for many the elderly, this may be just a dream. Financial problems plague the older generation, from rising interest rates, to exorbitant medical costs, to crushing credit card debt along with the rising cost. On top of this, many people find their savings are lacking, and there is...


Everything You Need to Know about the Means Test

August 8, 2018 12:00 pm Published by Leave your thoughts

In 2005, Congress decided to revise the bankruptcy code, which hadn’t been changed much during the previous 25 years. Why did they choose to revise? Congress and bankruptcy courts had become increasingly concerned that too many people were filing for bankruptcy – and their cases approved – who could actually afford to pay their debts. The revised bankruptcy code is...


Losing Profit Leads to Store Closings for Sears

July 5, 2018 12:00 pm Published by Leave your thoughts

Remember the days when everyone would shop at Sears for back-to-school clothes after receiving the annual catalog in the mail? Well, the once-dominating department store is closing stores across the U.S. This is due to the company’s inability to reach sales goals, which ultimately means they’re losing profits. They currently can’t afford to keep stores open that are underperforming. In...