Dothan, Alabama
111 Adris Place
Dothan, AL 36303
(334) 673-0100

3 Notable Bankruptcy Cases of 2015 December 9, 2015

Dothan, Houston
3 Notable Bankruptcy Cases of 2015 , Dothan, Alabama

There is a common misconception that those who file for bankruptcy are down on their luck or on the verge of destitution. In actuality, however, bankruptcy is a viable solution that allows you to take control of your debt, and people from all backgrounds and socioeconomic levels file for it—including celebrities, large corporations, and other high-profile individuals and businesses. In 2015 alone, there were several bankruptcy filings that landed in the news. Rafael Gil III of The Gil Law Firm is a bankruptcy lawyer who has served the Dothan, Alabama, area for more than 15 years. Here, this experienced attorney discusses three of the year's most notable bankruptcy cases.

  • American Apparel: Long known for their American-made clothing and provocative ad campaigns, American Apparel filed for Chapter 11 bankruptcy in October. Under Chapter 11, the company agrees to reorganize in order to stay in business and to repay its debts. 

    Businesses usually file for Chapter 11 bankruptcy, while individuals typically file for Chapter 7 or Chapter 13 bankruptcy. Attorney Rafael Gill III and his team will help you file for the type of bankruptcy that is right for your situation.

  • 50 Cent: Born Curtis Jackson, the acclaimed rapper filed for bankruptcy over the summer of 2015. What makes 50 Cent's case unique is the fact that he filed for Chapter 11, which is usually reserved for businesses and organizations. Chapter 11 gives 50 Cent the chance to repay his creditors over an agreed-upon period of time, but does not wipe out or diminish his debt.
  • Radio Shack: In February, the once-thriving electronics retailer also filed for Chapter 11 bankruptcy. While they were forced to sell thousands of stores, Radio Shack remains open for business. As in the cases of American Apparel and 50 Cent, Radio Shack will restructure its finances and repay its debt. Chapter 13 bankruptcy permits individuals to take a similar avenue by repaying debt in a manner that is more manageable. Lawyer Rafael Gil III will work with you to develop a payment plan that restores your financial solvency.

Call The Gil Law Firm at (334) 673-0100, or visit them online to schedule a bankruptcy consultation. With this skilled team on your side, you can have your case filed in as little as 24 hours. Take charge of your financial future and call today.

Other Announcements, Events and Deals from The Gil Law Firm
How to Talk to the Claims Adjuster After a Car Accident Injury, Dothan, Alabama
If you were hurt in a car accident that wasn't your fault, you may have grounds for a personal injury claim. Since insurance adjusters are trained to find even the smallest reason& more
What’s the Difference Between SSI & SSDI?, Dothan, Alabama
For individuals living with a disability, receiving financial benefits through applicable programs can make all the difference in maintaining a good quality of life. The Social more
What Does a Bankruptcy Trustee Do?, Dothan, Alabama
Individuals who file Chapter 7 or Chapter 13 bankruptcy are expected to cooperate with their assigned trustees. This person oversees and represents the estate in question, so more
What Mental Impairments Qualify for SSDI Benefits?, Dothan, Alabama
The Social Security Administration awards disability insurance benefits to individuals suffering from mental disorders as well as physical disabilities. In both cases, more
How to Build a Strong Slip & Fall Case, Dothan, Alabama
If you were recently involved in a slip-and-fall accident, you might be interested in filing a personal injury claim. The law protects victims in these cases, but before you more