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October 2011 Archives

Personal bankruptcy can erase financial stress

Many things can lead to financial stress. In general, a job loss, credit card debt and medical debt are all common reasons that many find themselves unable to pay all of their bills on time. And while there are a number of debt relief solutions often available, many end up choosing to file for either a Chapter 7 or Chapter 13 bankruptcy as a way to take control of their finances.

Former Florida power couple to sell $10.5 million estate

A Florida couple has gone from hosting fundraisers for presidential candidates Hillary Clinton and Barack Obama, to auctioning off their house and selling other vacation properties in order to pay back millions of dollars owed to creditors. As of now, it also appears that the couple's financial problems stem from a failed business venture.

Struggling with student loan debt? There may be a solution

In today's economy, many college students graduate with tens of thousands of dollars in student loan debt, and often have trouble making payments due to unemployed or underemployment. However, many Florida residents may be happy to know that there are a number of debt relief solutions that may be available if you have federal student loans.

Economy and changing trends leads to record company's bankruptcy

Due to a change in consumer behaviors and the downturn in the economy, a local record store company that has been in business for 30 years, recently filed for bankruptcy in the hopes of being able to reorganize debts and remain open.

Friendly's announces Chapter 11 plans, Florida locations close

Friendly's Ice Cream Corp., the parent company to the popular restaurant chain Friendly's, filed for bankruptcy earlier this month. And while some locations have already closed, the plan is for 424 restaurants to stay open while the company reorganizes under Chapter 11 bankruptcy. The company has also already secured $70 million in financing to help make this reorganization possible.

Rise in homeowners receiving mortgage modifications

In an effort to try and help homeowners avoid foreclosure, the government created the Home Affordable Modification Program. And while the actually number of people helped has not hit anywhere near the targeted goal of 3 to 4 million, the number of homeowners who qualified for a permanent mortgage modification did increase by nearly 16,000 between July and August.

Florida homeowners facing foreclosure may be stuck with debt

Recently, a man who owned a Florida vacation home in Lee County lost his home to foreclosure because he was unable to make his mortgage payments due to unemployment. It was a difficult situation, and one that he had hoped was behind him after the foreclosure and repossession of his property.

Slavery museum project put on hold with Chapter 11 filing

A planned project that was 10 years in the making, and would have resulted in a high-tech 100,000-square-foot museum exploring the struggles faced by slaves in the United States, now seems to be put on hold, as the museum recently filed for Chapter 11 bankruptcy.

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James H. Monroe, P.A.
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