The companies that own Brewzzi, a restaurant with two locations in Florida, have filed for bankruptcy. They are Glades Brewery Partners and Palm Beach Brewery Associates. Company representatives have filed a Chapter 11 proceeding in Bankruptcy Court, each seeking to restructure their debt.
Florida residents who are facing bankruptcy may reach that point in their lives through a number of different paths. For many, the financial setbacks that led to a serious debt crisis were beyond their control and are the result of a spiraling set of circumstances that could neither be predicted nor stopped. Medical debt is a prime example, and illness or injury is a leading cause of bankruptcy filings across the nation.
Florida consumers who are in the midst of serious financial difficulties are often willing to make a number of changes to regain stability. Many understand that filing for personal bankruptcy is an option, but wish to exhaust every other means of debt relief before giving that option serious consideration. The desire to repay one's debt is admirable, and some consumers are able to attain success through debt relief efforts such as the ones outlined here.
When financial strain becomes difficult to endure, many Florida residents consider filing for personal bankruptcy. Unfortunately, a wide range of myths and misconceptions surrounding bankruptcy lead some to postpone filing, while their debt outlook becomes even more dire. Savvy consumers will take the time and make the effort to get to the bottom of these common bankruptcy myths.
As the deadline for enrollment in the Affordable Care Act passes, many across the nation are wondering how the program might affect the financial standing of those who participate. In many cases, individuals and families are already in the middle of financial hardship brought on by job losses or other setbacks. Having health coverage could make a world of difference in their overall financial outlook. Some in Florida and across the nation believe that the ACA could even lower the rate of personal bankruptcy filings.
Many people fear the drop in their credit score that accompanies a personal bankruptcy filing. It is true that Florida consumers will experience an initial drop in their scores after bankruptcy, but the bigger credit picture is often far more favorable than many believe. There are many ways to begin rebuilding credit following the end of a bankruptcy proceeding, and many consumers are able to emerge with better scores than they had before their financial troubles began.
Debt is a common problem for Americans who often have excess credit card debt, mortgages and other forms of debt to contend with each month. For many young people, however, student loan debt is one of their largest financial obligations in Florida. Particularly for those who never completed their degrees or who finished school but can't find work, it might seem impossible to balance the cost of the student loans and their regular expenses. That's when bankruptcy may be a helpful solution.
Florida residents with significant debt may wonder about ways to get relief. Many people believe that there is a social stigma associated with filing for bankruptcy. However, financial expert Suze Orman says bankruptcy is often a better choice than the alternative options.
The Orlando-based healthcare tech company Rotech saw its debt restructuring plan approved by a federal judge. That court action allowed Rotech Healthcare Inc. to emerge from Chapter 11 bankruptcy reorganization, according to the company. Additionally, the judge approved $358 million in financing, which the company expects to close in on in September, thus ending its time in bankruptcy.
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.