The U.S. economy is said to be on the mend. By nearly all the measures experts like to use, the signals are positive. The positive numbers may not be as robust as might be desired, and the negative numbers might not be weakening as quickly as they could, but the trends appear to be in the right directions.
According to a report up by the online news source, NerdWallet, about 20 percent of Americans will face the hurdle of having to deal with a massive medical bill this year. These are bills that typically result because of significant accident or a diagnosis of major illness.
Business and personal bankruptcies tend to have processes that are slightly different. They do have one particular thing in common, though. In both cases, the entity filing for bankruptcy protection typically faces a debt burden that is too much to handle, and bankruptcy provides a legitimate means for addressing debt obligations while blocking the undesirable threat of creditor legal action.
The last two minutes of a football game often take a whole lot longer than the time that's on the clock. That being the case, perhaps it should not be too surprising that the Chapter 7 bankruptcy case involving former Arkansas Razorbacks coach John L. Smith continues to linger somewhat.
There are a lot of different forms of bankruptcy. Chapter 7 and 13 bankruptcies tend to be the ones used most by the average consumer. Businesses often turn to Chapter 11. Each chapter offers different avenues for achieving debt relief.