Tag Archives: Bankruptcy

Bridal Giant Alfred Angelo Files for Bankruptcy

Recently, the dressmaker Alfred Angelo announced that it was filing for Chapter 7 bankruptcy, shutting down about 60 stores and leaving independent bridal shops with no information as to whether dresses ordered from Alfred Angelo would arrive in time for summer and fall weddings. Naturally, the uproar has been intense. What is a bride to do when her dress is floating in financial limbo thanks to the dressmaker going out of business? How to Keep Your Cool During the Alfred Angelo Bankruptcy Fiasco First things first: keep in contact with the company. If you have ordered a dress either from Alfred Angelo, contact the bankruptcy representative. That would be Margaret Smith at alfredangelo@mjstrustee.com. Send her details of your wedding date, what you ordered and how much you paid. Also include your order number, the name as it appears on your order and where you made the purchase. The company promised…
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Should I Pick Chapter 7 or Chapter 13 Bankruptcy?

If you are ready to declare bankruptcy to start settling your debts, deciding which kind of bankruptcy to file for can be a challenging decision. When filing for bankruptcy for an individual, you can either decide on Chapter 7 bankruptcy or Chapter 13 bankruptcy. Chapter 7 bankruptcy: This is the most common type of consumer bankruptcy. When you file, you receive an “automatic stay” which stops creditors from trying to collect more debt from you. Chapter 7 bankruptcy is a faster acting plan, designed to eliminate dischargeable debt like credit card debt and medical bills. After these debts are gone, room is made to pay off non-dischargeable debts, like student loans and child support payments. It is favorable to those who earn less than the median income in their region. In Chapter 7 bankruptcy, creditors will attempt to sell your “non-exempt” property. A Washington, D.C. bankruptcy attorney can help you…
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How to Protect Your Home from Foreclosure

If you’re struggling with your finances, losing the house may be your biggest fear, but there are a few steps you can take to protect your home from foreclosure. Here are some tips to help you avoid foreclosure in a difficult situation. How to Protect Your Home from Foreclosure Understand every option: There are a wide range of alternative options to foreclosure, including short-term borrowing solutions that help you make payments, and long-term solutions that help you rework your situation. The right solution will depend on the particulars of your circumstances. Make sure you are aware of every option before committing to one path. You can look at the Federal Reserve’s official Foreclosure Resources for Consumers to help you evaluate the different game plans. Research particulars before you involve your lender: Go over your mortgage and take a serious look at your budget to make sure you know your stuff…
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