Lily Robotics, a startup that quickly amassed tens of millions of dollars in pre-orders from around the world following its release of a viral video showing its prototype of an autonomous flying camera in 2014, has filed for Chapter 11 bankruptcy protection.
If you are facing a level of personal debt that has you considering bankruptcy, the prospect of spending any more money might be an immobilizing thought. Thinking that way will only keep you in a perpetual cycle of debt that you cannot escape. Filing for bankruptcy will cost you money, but think of this money as an investment in your future financial freedom.
For many, the fine line between financial solvency and financial distress is quite thinner than many care to admit. The decline of financial stability often presents the acceptance that bankruptcy may be looming around the next corner.
Consumer credit has a colorful past. The ability to say “charge it” was not always in the U.S. consumer’s vocabulary. Consumer credit or being able to purchase goods and services without cash on hand had its humble beginnings in the late 19th century.
You have reached your breaking point. You are in over your head and have decided that filing for bankruptcy may be your only recourse. It has come down to the wire. You can no longer successfully handle your growing debt and need relief.
Your best option is to contact an experienced bankruptcy attorney in your area but until your scheduled consultation, the following information may provide you a headstart.
When you purchased your home a few years ago, life was great. Your job was secure, your children were happy and healthy and your marriage was stable, of course with the common marital ups and downs but still reasonably stable.
Then it all came crashing down.
One of your children was diagnosed with a chronic disorder causing medical bills to soar, you became a victim of employment downsizing, and your spouse decided it was all too much and filed for divorce. You are now in danger of losing the family home to foreclosure.
Stressing over mounting debt and other financial issues could actually cause your intelligence level to drop. According to a combined study done by several top universities, worrying over money can reduce your IQ score by up to 13 points.
As a society we have become accustomed to labeling different generations with short and catchy nicknames. Currently we have Generation X for those born from 1965 through 1979; Generation Y for those born from 1980 through 2000; and lastly we have Generation Z for those born from 2001 through the present.
Bankruptcy, as defined by LendingTree, LLC, the nation’s leading online lender exchange, is a complicated situation that can open the door to a personal or business “do-over” without the burden of insurmountable debt but not without possible financial consequences.
It may be easy to briefly define bankruptcy but for those facing the reality, the situation can raise numerous questions, especially when it involves your Roth IRA.
Facing the loss of your family home to foreclosure was not part of your American dream. Every nook and cranny holds a cherished memory, but due to economic hardship you are unable to continue making your mortgage payments. You are quickly approaching the end of your 90 day grace period. There is no other recourse, the bank is planning to call in the loan. You are now facing foreclosure and can not wait for the nightmare to end, but for many unsuspecting homeowners it may continue to haunt them for another 20 years.