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Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
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debt relief Archives

Debt relief issues: What prompts bankruptcy most often?

In Louisiana and most other states, the global, national or local economy can have a significant impact on the financial stability of individual households. Most people would agree that they have enjoyed financial gain and have also waded through some rough financial waters through the years. The latter can take a heavy toll, often leaving those afflicted in need of immediate debt relief.

Gymboree seeking debt relief for the second time in two years

Louisiana parents who go to malls to buy their children's clothing are likely familiar with the Gymboree brands. The parent company owns Janie and Jack as well as Crazy 8 but has fallen under serious financial strain as it tries to compete with online shopping venues. The company recently announced that it will be filing for debt relief for the second time in the past two years.

West Coast utility company seeking debt relief

Natural disasters that occur in Louisiana or elsewhere often have negative effects on local businesses, homeowners and other segments of society. For instance, if a town is flooded, local merchants may suffer financial hardship or find themselves unable to stay in business due to aftereffects of the storm. For some business owners, even insurance benefits or fund-raising efforts may not be enough to get things back on track after disaster strikes. Those who execute solid debt relief plans may be able to lay the groundwork for restored financial stability down the line.

Several major department stores sought Chapter 11 debt relief

As retailers take their first steps of a new business year in 2019, they are gearing up to try to stay afloat as they compete in an e-commerce world. Last year brought serious financial challenges to many businesses that have been household names in Louisiana and across the country for decades. Sears, in fact, had been in business for more than a century before owners determined a need to seek immediate debt relief.

Senior center in another state seeks immediate debt relief

Many Louisiana business owners are currently facing serious financial problems. Fluctuating global, national and local economies can cause unexpected financial crises that are difficult to resolve. As one business in a bordering state has determined, it is sometimes better to seek immediate debt relief than to try to stay afloat without outside support.

Will debt relief keep USA Gymnastics from being decertified?

Gymnastics enthusiasts in Louisiana and throughout the nation are likely familiar with USA Gymnastics, the national governing body for the sport. Chairwoman for the board of directors in the organization recently announced that board members have made a collective decision to file for Chapter 11 bankruptcy as a means of immediate debt relief. Chapter 11 is one of numerous types of bankruptcy that often help struggling businesses stay afloat. 

Attention Louisiana brides: Popular dress shop seeks debt relief

Walking into a David's Bridal shop in Louisiana or other state often leads to scenes of smiling brides and their various entourages of mothers, prospective mother-in-laws and numerous bridesmaids, matrons, flower girls and other friends. The popular bridal gown store not only provides a wide variety of choices for those preparing to exchange marriage vows but also for any number of other formal wear occasions. Just because a store is often full of potential customers, however, does not guarantee that everything is going well financially for the owners; as for David's Bridal, the company recently took steps to seek immediate debt relief.

Restructured payment part of Toys 'R' Us debt relief plan

Most Louisiana parents have purchased Toys 'R' Us products at one time or other. As one of the largest retail toy stores in the nation, the company is a household name in most states. That's why so many people were surprised to learn that the toy icon was in need of immediate debt relief; in fact, it was struggling to stay afloat.

Man's debt relief plan halts foreclosure process

Anyone in Louisiana currently trying to overcome financial problems may want to consider bankruptcy, among other viable solutions. There are often several debt relief alternatives and various factors may influence which option is chosen. A man in another state decided to file for bankruptcy, which has stopped a threat of foreclosure on 27 of more than 100 properties he owns.

Louisiana post-graduate students may benefit from debt relief

It is no secret that one of the most common causes of debt in Louisiana and elsewhere is associated with college loans. College students in this state and beyond take out hefty loans with good intentions of paying them back shortly after graduating. However, more often than not, such plans are not fulfilled and many people are left financially struggling, sometimes for decades, because of their college loans, prompting them to seek immediate debt relief.

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