Latest News 2012 July RoomStore Inc.'s Bankruptcy Shifted to Chapter 7

RoomStore Inc.'s Bankruptcy Shifted to Chapter 7

A U.S. Bankruptcy Court judge has reportedly shifted RoomStore Inc.’s Chapter 11 bankruptcy to Chapter 7 bankruptcy. According to reports, a trustee will now be appointed to oversee the sale of the company’s remaining assets. The business was struggling with unsecured creditors to reach agreements. Chapter 7 will have assets liquidated in order to pay off creditors some of the debt they are owed.

It’s never easy to find yourself in the position of needing to file for bankruptcy no matter where you are in life. However, it’s important to understand that filing for bankruptcy does not have to be the end, but can be a chance at a new beginning. You need to know that you do have rights to protect during this difficult time, but can do so when you know how to handle your case. You will be able to recover from this difficult part of your life.

By working with a bankruptcy lawyer, you will be able to resolve this matter in the most beneficial and timely manner. You can count on an attorney to know how to approach your specific situation and be able to guide you through it. A lawyer will always have your best interest in mind while fighting for your rights. Please take some time today to contact a bankruptcy attorney today to begin discussing the details of your case.