Content Related To 'bankruptcy'
NEW YORK (TheStreet) — Contrary to conventional wisdom, bankruptcy can do a struggling business tremendous good. Debts can be minimized, uncompetitive employee contracts can be renegotiated, and burdensome business units can be sold off. American Airlines , LyondellBasell and even, yes, Eastman Kodak are examples of the tough but necessary change that happens in bankruptcy […]
By Elliot S. Schlissel Jan. 4, 2011 There are various techniques that can be used to modify mortgages. Homeowners can apply to their banks for mortgage modifications. If the homeowner files bankruptcy, he or she can take action to force a bank to write off portions of the principal of the mortgage loan. This is […]
Each of the four major types of bankruptcy has its own set of guidelines and regulations. Chapter 7 may be used by businesses and individuals and involves the liquidation of any assets and immediate payment of debts. Chapter 13 often is used by individuals and smaller businesses and involves payment over a period of time. […]