Just a year ago, Boston-based digital TV startup Aereo had the potential to completely revolutionize the way people watch television. Since then, Aereo has been on a gradual downward descent starting with a June Supreme Court ruling that the company’s services violate copyright law. And on Thursday, Nov. 20, Aereo finally filed for Chapter 11 bankruptcy help, facing lawsuits from a number of television networks, according to the Boston Globe.
If you are so deeply in debt that you feel you have no hope of paying off your creditors, then filing for bankruptcy may actually be the best long-term decision, no matter how scary it sounds. Here are the five top questions people ask about Chapter 13 bankruptcy:
After their baby’s premature birth in a Hawaii hospital resulted in a hospital bill almost totaling $1 million, one Saskatchewan couple is considering filing for bankruptcy. According to a November 19 CTV News article, Darren Kimmel and Jennifer Huculak went to Hawaii for a vacation in October 13, when Huculak was six months pregnant but cleared to travel. The couple had even bought Blue Cross insurance for the trip.
It’s no secret that the cost of healthcare is unaffordable for many Americans. In 2013 alone, about two million people filed for Chapter 13 or Chapter 7 bankruptcy help because their unpaid medical bills were too much to handle. But even being covered by health insurance isn’t always enough to prevent a medical bankruptcy, as one Wisconsin woman’s current situation proves.
In a Nov. 5 bankruptcy court filing, General Motors (GM) and its Chapter 11 bankruptcy attorneys stated that the company shouldn’t be held responsible for liabilities associated with faulty cars manufactured before the automaker filed for Chapter 11 bankruptcy help and reorganization in 2009. According to Reuters, GM is facing litigation from millions of people who bought the 2.6 million GM vehicles which have been recalled for faulty ignition switches this year alone. Before it sought help filing bankruptcy, GM had recalled some 9.6 million other vehicles.