One of the most well known hotels in Trenton, NJ is sadly in financial trouble, $25 million worth of trouble. The hotel opened in 2001 and has struggled to make a profit and pay the debt payments ($13.3 million) ever since. Lafayette filed for Chapter 11 bankruptcy, which gives them a break from their creditors. Some of their creditors are Starbucks, DirectTV, USA Today and more. The largest being Wells Fargo Bank and the Trenton Parking Authority who overall are owed $21 million. The Lafayette Board was unable to find a lender before having to file for bankruptcy because they wanted payment …Read More ➡

The government’s shutdown is effecting more people then you think. Small businesses like shops and kiosk owners have had a lot of trouble staying open due to national parks being closed as well. They depend on tourists to keep their business running. Many of these businesses are quickly approaching bankruptcy. According to NBC’s article, the national parks get 287 million visitors annually. That’s a lot of people, and October is one of the busiest months because the weather has cooled down from the summer heat but it’s not too cold to walk around. During the winter season the parks are …Read More ➡

The opera is a favorite past time for everyone, but what if the New York City Opera were to disappear? City Opera might be near its last performance unless it raises $7 million by the end of September. Furthermore, an additional $13 million must be raised for the 2014-2015 season. The company is 70 years old and has put on about 130 performances per season. Recently the performance amount has shrunk and so has the staff. City Opera is known for innovation and creativeness and it became the place for young performers to start their career. It really would be …Read More ➡

The Please Touch Museum is settling well in its new home at Memorial Hall, but has stopped their debt payments. Seems they may be close to needing a Philadelphia bankruptcy lawyer. Museum officials claim the debt was manageable until recently, so what has changed? President/CEO, Lynn McMaster, claims that they are trying to negotiate with bondholders.Thoughts have been raised to seek help from another group, although McMaster claims that as of now, there are no potential merger prospects just yet. Two million dollars is the kind of debt we are talking about, and it will only get higher each year. …Read More ➡

The decision to file for Bankruptcy is never an easy one to make. The actual process of qualifying to file Bankruptcy can be even more difficult, but you have freedom to choose legal guidance to smooth the rough edges and to make this experience as painless as possible.   As you may already know, some lawyers and attorneys have a bad name for caring more about their own fees than their client’s cases. Luckily, this isn’t always the case and there are a number of ways to screen Bankruptcy lawyers to avoid the bad jokes.   When you call a …Read More ➡

So you’re thinking about filing for Bankruptcy? Debt is a growing problem in this nation, and new laws were recently passed in 2005 that make it more challenging to qualify for Bankruptcy. Reinherz & Reinherz Law offers Bankruptcy services in New Jersey and the Philadelphia area, and we are here to help! Please contact our office, and an experienced Bankruptcy attorney will review your unique circumstances to help you determine the best course of action to take… even if Bankruptcy isn’t the right option.   Here are some things you should do before filing for Bankruptcy:   1. Gather any relevant …Read More ➡