Sterling Energy Systems Inc., a manufacturer of solar-power equipment, recently filed for Chapter 7 bankruptcy.  The company is based in Scottsdale, Arizona.

Executives with Sterling Energy Systems say that rising costs, low demand, and trouble raising funds has hurt their business.  Sterling reportedly tried to find a buyer, but did not find anyone and decided to file for bankruptcy instead.  Under Chapter 7 bankruptcy, the company will be able to eliminate their debts.

The company’s Chapter 7 filing lists between $1 million and $10 million of assets and between $50 million and $100 million in debts.

Several other solar-power companies have recently filed for bankruptcy as the industry struggles.

If you or someone you know has questions about being eligible to eliminate your debts through Chapter 7 bankruptcy, contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Law, LLC by calling 205-324-4000 today.

Last month, a total of 108,517 personal bankruptcies were filed nationwide.  September’s personal bankruptcy filings were 4 percent lower than a month before and 17 percent lower than a year before.

Furthermore, the number of personal bankruptcies filed in the U.S. from the beginning of the year through September was 10 percent lower than the number of personal bankruptcies filed in the same time period last year.

70 percent of personal bankruptcies filed in September were Chapter 7 filings and 30 percent were Chapter 13 bankruptcies.

Data comes from the American Bankruptcy Institute and National Bankruptcy Research Center.  Samuel Gerdano, executive director of the ABI, says, “Total consumer filings for 2011 will be less than 2010.”

Contact the Birmingham personal bankruptcy attorneys of Greenway Law, LLC at 205-324-4000, if you or someone you know has questions about filing for personal bankruptcy in Birmingham.

Earlier this month, “Troubleshooter” Tom Martino filed for Chapter 7 bankruptcy.  Martino hosts television and radio shows on consumer-advocacy based in Denver, Colorado.

Martino says that all of his debt is related to commercial real estate projects and that he has zero consumer debt.  The majority of the 47 creditors listed in the bankruptcy were banks that Martino had real estate loans from and had failed.

The Chapter 7 bankruptcy filing lists $78.6 million in debt and $1.37 million in assets.  Martino said, in regards to the filing, “There are so many people in this same boat.  You’ve got millions of dollars in lost value and all of a sudden you can’t refinance your loans and you are just upside down.”

To learn more about the Chapter 7 bankruptcy process, contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Law, LLC at 205-324-4000 today.

Grammy award-winning singer Toni Braxton recently had many of her debts discharged under Chapter 7 bankruptcy.

The singer filed for bankruptcy last September. The Chapter 7 filing listed $18.3 million in debts and $1.6 million in assets.

Under Chapter 7 bankruptcy, certain types of debts are eligible to be discharged. An order from the U.S. Bankruptcy Court in Los Angeles states that most of the singer’s eligible debts were discharged. Some taxes, student loans, criminal fines, and domestic-support payments are not eligible for discharge.

With the order, Braxton is no longer responsible for paying off certain debts. In addition, creditors are prevented from taking action against the singer for repayment.

If you have questions about what qualifies as a dischargeable debt and what does not, contact the Birmingham dischargeable debt lawyers of Greenway Law, LLC at 205-324-4000 to speak with one of our experienced bankruptcy attorneys.

Many governmental entities across the country, at both the state and local level, are struggling to balance their budgets after the economic crisis.  In an attempt to  balance budgets, many government workers are experiencing salary deductions, higher costing benefits, and wage freezes.

Previously, many public workers were unable to qualify for chapter 7 bankruptcy because their salaries were too high.  However, with these salary deductions, this no longer seems to be the case.  ”Traditionally, public employees were not eligible for Chapter 7 Bankruptcy due to the fact that they had good salaries and typically didn’t have to pay much toward their benefits … In the current fiscal crisis, that is changin,” said one bankruptcy expert.

If you or someone you know has questions about chapter 7 bankruptcy eligibility, contact the Birmingham chapter 7 bankruptcy attorneys of Greenway Law, LLC at 205-324-4000 to learn more about the process today.