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.

Former Alabama State Representative James Gordon recently filed for bankruptcy protection for himself and his business, the Alabama Injury and Pain Clinic.

The business filed for Chapter 11 bankruptcy in hopes of reorganizing and continuing operations. Gordon also filed for personal bankruptcy, choosing Chapter 13 bankruptcy. Under Chapter 13, the former representative will pay back creditors according to an established repayment plan and timeline.

According to Gordon, the business and his personal finances suffered as a result of the economic recession and his time spent away from the Alabama Injury and Pain Clinic while in office.

If you or someone you know is seeking experienced legal representation to assist you in filing for Chapter 13 bankruptcy and establishing a repayment plan, contact the Birmingham Chapter 13 repayment plan attorneys of Greenway Law, LLC at 205-324-4000 today.