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July 2014 Archives

Bakery with locations throughout New York may file Chapter 7

When business owners encounter financial challenges, they often face a large amount of stress and many decisions that need to be made. For business owners who have multiple locations, it may be only a single location that is struggling, or at worst it is the chain as a whole. Some business owners may decide to simply close their doors, even though this may not be the only option. But, for many businesses, Chapter 7 bankruptcy could be a potential solution that they did not initially consider.

New York remains in top 5 states for foreclosures

Since the recession and financial crisis began in 2008, many New York residents have faced a wide range of financial challenges and setbacks. People have experienced job loss or reduced hours and extended unemployment, which frequently cause difficulty in paying bills. Homeowners have had to worry about losing their homes when the mortgages become too expensive and their homes are no longer worth what they were when they bought them. Foreclosure was a real and imminent concern for many people.

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