What started as a fun family tradition of going shopping on that extra day off after the Thanksgiving holiday has become an all out shopping extravaganza. Some may still love Black Friday for the deals people can get in the check out lines, while others have grown less enthusiastic or even disdainful about this unofficial American holiday.
A previous post on this blog discussed how a bankruptcy can help a sole proprietor, that is, a person who conducts business in his or her own name and does not incorporate, manage their business debts and keep their enterprise afloat while they reorganize.
A previous post on this blog discussed how small southeastern Tennessee business owners who operate in their individual names can get help with their business debts through a Chapter 13 bankruptcy. This is because these debts are usually in the business owner's personal name, just like his or her house loan or personal credit card. As such, they can be repaid through a Chapter 13 repayment plan.
After a Bradley County, Tennessee resident files for a bankruptcy, he or she may get something in the mail called a reaffirmation agreement. These agreements are particularly common in Chapter 7 bankruptcies with respect to car loans and similar types of debt, although a debtor might receive one for a mortgage or other type of debt now.
Romano's Macaroni Grill, an upscale Italian restaurant chain that once had locations sprouting up all over the country, has announced it will enter a Chapter 11 business bankruptcy in order to restructure its debts so that it might be able to continue to operate.