Your Virtual Credit Manager
APRIL 23, 2024
Another thing trade creditors can study is companies that have defaulted or filed for bankruptcy. We’re going to look at the situations involving four well known companies that ended up in bankruptcy so we can better understand the circumstances that signal a commercial bankruptcy may be on the horizon. J.Crew Group, Inc.
Abrigo
JANUARY 29, 2020
The stress on profitability led to a significant number of farm exits (47.7%) and higher levels of Chapter 12 bankruptcy filings (24.7%), the chapter of the U.S. bankruptcy code specifically designed to protect farmers and fishers. The grim farm profitability landscape has led producers to alter their operating behavior.
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Fundera
AUGUST 26, 2018
As of March 2018, business owners had $50 billion of outstanding credit card debt. No one wants to—nor should—go straight to filing bankruptcy. It’s also a better alternative than declaring bankruptcy to preserve your credit. Declare bankruptcy. Filing for bankruptcy should be—and is—a last-resort option.
Fundera
DECEMBER 13, 2018
Public records that include bankruptcies and judgments. When lenders are looking for “financial responsibility,” what they generally want to see is that you don’t overburden your income with debt, avoid bankruptcies and other legal mishaps, can reliably handle several types of credit, and generally show that you’ll pay them back what you owe.
Fundera
MARCH 2, 2019
In the fourth quarter of 2018, 0.94% of borrowers defaulted on commercial and industrial loans. See a bankruptcy lawyer – Sometimes, when a business owner defaults on a loan, bankruptcy isn’t far off. Bankruptcy can have even bigger implications than default for your credit and finances.
Due
JUNE 15, 2023
A 2018 study found that people who feel financially inferior to their peers are likelier to spend money on luxury items to “keep up with the Joneses.” Living beyond one’s means can lead to maxed-out credit cards, personal loans, and even bankruptcy. The long-term consequences of debt can be devastating.
MNS Credit Management Group
MAY 25, 2023
Debtors’ debts can also be settled through the mechanism of suspension of payment obligations (SOP) at a commercial court which is subject to the provisions of bankruptcy and suspension of payment obligations.
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