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It was a dark day for many lovers of delicious snack cakes when Hostess filed for Chapter 11 bankruptcy last year. It was not only Doomsday preppers who rushed to stockpile the iconic desserts. The pain of many in Maryland was felt as people posted over social media their heartache at losing their favorite sweets. Meanwhile, those within the company began its reorganization.   Soon after bankruptcy, the Hostess company was purchased by two private firms who sold a majority interest to a third company.

Recent innovations have given birth to an industry that combines an old service with new technology. Ride sharing allows people to use their own vehicles to earn money providing rides for others by way of a Smartphone app. While ride-sharing companies are wildly successful, it seems that progress may not be good for everyone. Traditional cab companies in Maryland are finding themselves in need of financial reorganization. Barwood, Inc. and the taxi companies associated with it are struggling to compete against ride-sharing companies like Uber

A financial disaster often leads a person to file for bankruptcy protection. Perhaps it is a medical emergency or a job lay-off that starts the rapid unraveling of a delicate budget. However, a bankruptcy should not be thought of as a second disaster. In fact, despite the embarrassment people in Maryland may feel about filing for bankruptcy, the results allow you to begin rebuilding your credit. The first step one should take is to identify the reasons why one’s debts got out of control and

Americans already carry a significant amount of credit card debt, and the holidays are a time of year that many people see their spending and debt balances increase. It is easy to become overwhelmed by credit card debt, but this situation can quickly begin to affect one’s ability to manage other bills and financial obligations. One way to deal with a debt that is unmanageable is to file for bankruptcy protection. Especially during this time of year, it is quite common for people to fall

Consumers in Maryland who have had to rely on their credit cards after job losses or unanticipated medical emergencies may end up with mountains of debt without much hope of being able to pay. Gaining knowledge about bankruptcy protection when other options such as negotiating with creditors fail can be beneficial. While Chapter 7 or Chapter 13 bankruptcy may be the most suitable way to reestablish financial stability, it may be wise to consider all of the pros and cons before filing. Consumers are told

In order to benefit from the protections provided by Chapter 11 bankruptcy, one must file a petition with the appropriate bankruptcy court. This type of bankruptcy allows for the reorganization of debts, which can provide the petitioner with a way to halt collections efforts against an individual or organization. Most who file for Chapter 11 are business organizations, but individuals may be eligible for this option as well.  Maryland businesses often choose this option when unable to handle monthly expenses and pay off creditors in a timely

When Maryland consumers suffer financial hardships that seem overwhelming, they may consider bankruptcy. However, without proper knowledge about the protections offered by the U.S. Bankruptcy Code, the terms used in the process can be confusing. For example, what is the difference between Chapter 13 discharge and dismissal? For which chapter should they file? What is the difference between a liquidation bankruptcy and a wage-earner plan? The first two terms are complete opposites. While discharge is a positive term for the consumer, dismissal is something a

A case currently before the Supreme Court will address how debt is collected and the practices that collection agencies are allowed to use. This case stems from a situation in which a woman was expected to pay over $1,800 on a bill long after the statute of limitations had expired. The court will decide whether people already under bankruptcy protection can sue companies for seeking payment on debts after the statute of limitations has expired. Maryland readers will note that the company that brought the

Bankruptcy can be an intimidating prospect, both for an individual and for a business. Fortunately, we have experience helping both people and businesses navigate the complexities of the bankruptcy process and find solutions to their unique concerns. We are dedicated to the prosperous futures of Maryland businesses in Chapter 11 bankruptcy. Chapter 11 is a type of bankruptcy that allows for the reorganization of debts, providing a fresh financial start for businesses. This is an appropriate option for companies that are no longer able to

When the economy improves, consumer confidence increases, and people begin to charge more on credit cards. In 2007, people were also overconfident with their money, causing to them to take risks with their long-term financial stability by carrying huge credit card balances. Analysts warn that this is happening again, which could potentially increase the need for many Americans to consider consumer bankruptcy.  Maryland readers may be interested to know that Americans accumulated an estimated $34.4 billion in credit card debt in the second quarter of 2016