All the Legal Advice you need at TheLawrence

All the Legal Advice you need at TheLawrence

Bankruptcy is Still Hitting Hard

Ever since the turn of the century, times have been hard in the United States. The recession struck and took jobs and savings from people, and that left a lot of folks high and dry. Over the last few years, the economy’s been picking up and people have been getting back to work. Times haven’t been good for everyone, though, and even entire towns are feeling the squeeze.

That’s right, pretty soon an entire town is going to need to find local bankruptcy attorney.  It seems that one suburban town decided to default on paying a local truck driving school. If the money issue would have been dealt with straight away, the town might have been fine. Instead, both the city and school went to court to settle the issue of whether or not the town owed money. That only ended up increasing the debt the town was in.

Turns out, the truck school won in court. While the local town is going to be able to continue paying for essential services, like the police and fire department, it’s going to have to go back to a bankruptcy court to restructure its debt. It seems bright days still aren’t shining for everyone.

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