bankruptcy

Connecticut Debt Relief Law Firm Teaches Clients that Filing for Bankruptcy is No Longer a Stigma

Bankruptcy. The word carries with it so many different meanings for different people. For far too long, Americans have felt that because filing for bankruptcy was a last resort before total financial annihilation, it was therefore a humiliating process, one to be kept secret or hidden from friends and neighbors. But due to the difficult economy and recent economic recession, this perception is quickly changing.

Norwalk, CT Attorneys Help Students Pay Back Loans without Drowning in Debt

Pursuing an education is an integral part of the American Dream. Getting a college degree in order to seek knowledge and fulfill one’s dreams is the right of every American citizen, and people come from all over the world desiring to pursue this freedom. However, the cost of this dream can be steep. Most students have to obtain loans in order to fulfill their desire for a college degree, and, unfortunately, due to the recession, the bleak job market, and high interest rates, most of these young people are struggling to pay them back.

Bridgeport Bankruptcy Law Firm Cautions Clients as to Effects of Sequestration

No one likes to be in limbo—it is an uncomfortable feeling to be uncertain as to one’s future. For Americans undergoing the process of bankruptcy, limbo is very likely what they will be experiencing for the years to come. Sequestration, or long-term cuts to different areas of the US Government, is most likely going to result in both court services and the resolution of civil and criminal cases becoming backlogged, drawn out and an altogether frustrating process. If you have filed for bankruptcy, or are considering...

Bridgeport, CT Bankruptcy Attorneys Help Clients Rebuild Credit after Bankruptcy

Although filing for bankruptcy has gotten a bad reputation, there is much good that can come of it. One positive aspect in particular is that it allows you to create a better credit score in your immediate future. With the help of the skilled and effective Connecticut debt relief attorney Mark M. Kratter, you can create a sound financial future for yourself, and your family.

Bankruptcy can allow people to wipe their financial slate clean when they are facing mounting bills, overwhelming payments, or steep mortgage installments that can no longer be paid – but it doesn’t always easily provide relief for those with large amounts of student loan debt. There are two major student loans: federal loans that are backed by the federal government, or private loans that are backed by for-profit banks. Private and government-issued or -protected loans have usually been non-dischargeable in bankruptcy proceedings. However, there are options. If student loans are weighing you down, contact the Bridgeport Bankruptcy Law Firm of Mark M. Kratter, LLC to help you figure out the process and begin anew.

Most societies don't punish people for being unlucky or even imprudent enough to have reached an economic impasse marked by overwhelming debt. The bankruptcy laws have long been available to legally relieve people from intrusive debt collections and to get a fresh start in life. The filing of a consumer bankruptcy in Connecticut can be a lifesaving event for many people, but they'll benefit from studying the pros and cons and making an informed decision before choosing to go forward.

A Connecticut town is the recipient of a sizeable check after a bankruptcy court determined its claim against a power plant had priority over other creditors. The plant filed for Chapter 7 bankruptcy slightly over a year ago and had to lay off its entire workforce. Before its bankruptcy, the power plant contributed the largest amount of taxes to the town, totaling over $1 million annually.

Most Connecticut business owners don't expect severe financial problems when they first open their doors. However, when companies are forced to negotiate contracts with others, sometimes delays in those talks can lead to unforeseen costs or financial issues resulting in the decision to file for Chapter 7 protection. Such is the case for a long time orchestra.

Connecticut business owners may currently be feeling the pinch of tough economic times. When the financial strain becomes too much, owners may seek the protection that Chapter 7 bankruptcy can offer. Recently a biomass producer, apparently experiencing massive financial strain, did just that.

A sigh of relief has gone through Connecticut and Twinkie lovers across the nation, however short-lived it may be. A judge noticed Hostess and its second largest union had not gone through private mediation before the company's Chapter 7 bankruptcy filing. The two will now take the step of mediating soon, but if they cannot come to an agreement liquidation will resume. The company had been struggling for several years and the Chapter 7 is its second bankruptcy attempt in less than 10 years.