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July 2013 Archives

Belle Foods bankruptcy may lead to warehouse closure

On July 1, Belle Foods, LLC, which operates 57 grocery stores in Florida and other states, filed for bankruptcy. The privately-held companies operate under the names of Belle Foods, Piggly Wiggly and Food World. In the Chapter 11 filing, Belle Foods listed C&S Wholesale Grocers as a creditor, claiming that it owes approximately $900,000 for pension liability withdrawals and approximately $5.1 million in unpaid accounts. The company's total assets were not mentioned.

Can tax liabilities be discharged in bankruptcy?

Some Florida residents who are facing monetary difficulties may wonder what impact filing for bankruptcy could have on their tax liability. Before filing for bankruptcy, some experts recommend that people check to see whether filing will benefit their specific tax situation. Some debts are not dischargeable.

Credit card debt, cancellations can affect credit score

If one number is more important to Florida residents' everyday financial lives than any other, it's probably not their social security number, cell phone number or even their credit card number. No, the number that affects everything from where they can rent an apartment to whether they need debt relief is their credit score.

Retirement community in World Golf Village files for bankruptcy

On July 3, the not-for-profit organization operating Glenmoor retirement community filed for Chapter 11 bankruptcy. Glenmoor is located in the World Golf Village, which is in St. Johns County and operated by Life Care St. Johns Inc. The retirement community includes 70 apartment homes, 32 patio homes, 31 estate homes, 11 small cottages, a health center with 30 nursing beds and an assisted living center containing 15 suites. There are approximately 247 residents.

Report is critical of student debt relief agencies

Florida students may be interested in a new report on student debt relief agencies that was issued on June 19. The National Consumer Law Center issued the report, which was critical of the education debt relief firms and shined a light on possibly unscrupulous business practices. In response, 23 U.S. senators have signed on to a letter that asks federal agencies to investigate the companies in question.

Divorcing Floridians may have to file bankruptcy before divorce

Florida individuals who plan to get a divorce from their spouse may have to seek bankruptcy protection first. One woman plans to divorce her husband but is worried that she may face future debts. For instance, she pays the mortgage. He doesn't. She plans to move out. He plans to let the house go into foreclosure while he continues to reside there because he can't pay the mortgage. She questioned if she would have file for bankruptcy before filing a divorce petition.

Filing for bankruptcy during a divorce

Florida residents who file for bankruptcy should be sure to do some research and planning before filing, especially if they are doing so during or after a divorce. It is not uncommon for married couples to have both names on the titles of homes or automobiles that they own, and this can complicate the filing process. While filing for Chapter 7 bankruptcy can eliminate most or all of someone's debt, if people are not careful, they could end up being liable for debt discharged during the bankruptcy.

Supermarket chain files for Chapter 11 bankruptcy

A supermarket chain with stores in Florida and several other southern states filed for Chapter 11 bankruptcy on July 1. Grocery retailer Belle Foods cited slow sales and problems with creditors as the reasons why it is seeking bankruptcy protection only one year after the company was formed. One such creditor is C&S Wholesale Groceries. In 2012, the newly-formed Belle Foods purchased the supplier's corporate stores, the former Southern Family food stores. That purchase of 57 stores provided the foundation for the Belle Foods chain.

More people choosing to forgo credit cards

It is easy to get swept up in the use of credit cards. Perhaps that explains the nation's $800 billion in credit card debt. As more people recognize the risks of irresponsible credit card use, many Floridians and people nationwide are choosing to live without them.

Biggest reason Floridians seek bankruptcy relief: medical bills

Medical bills are expected to force 1.7 million Americans in Florida and around the country into personal bankruptcy, according to NerdWallet Health. Health expenses are becoming the biggest cause of personal bankruptcy which is outpacing other reasons, such as unpaid mortgage and credit card bills. According to the NerdWallet health vice president, medical bills can overwhelm a family when a sudden illness happens.