Gingrich Group Files for Chapter 7
On Wednesday, April 4, 2012, The Gingrich Group, LLC filed for Chapter 7 bankruptcy. Chapter 7 allows a business or individual to liquidate their assets to repay creditors. The petition listed that the group owes between $1 million to $10 million to an estimated fifty to ninety creditors.
Through the Center for Health Transformation, the group provided care consultation for over 300 health insurance companies and other clients. Newt Gingrich resigned as chairman of the group after announcing his bid to run for the presidency in May of 2011. Though Gingrich no longer chairs the group, some political analysts speculate that the filing could end his campaign.
A Long Island bankruptcy lawyer can help you determine if bankruptcy is the best option for your business or personal finances. The team at Blutter + Blutter has over 50 years of combined experience in bankruptcy law. They will help you assess your situation and determine if bankruptcy is the best option to relieve your debt. They will use their knowledge of the law to help you create a comprehensive strategy for overcoming your personal or corporate debt. If you are considering bankruptcy or an alternative to bankruptcy, contact the firm to ensure that you receive legal counsel that you can trust.
