Mental health group seeking bankruptcy protection
Posted on Wednesday, April 30th, 2014 at 1:38 am
A former non-profit mental health group recently filed for bankruptcy protection after acquiring millions of unsettled debt, Triangle Business Journal reported on April 28.
Reports state that the now closed Wake Forest-based mental health group W.E.B. Dubois Community Development Corp. filed for Chapter 7 bankruptcy on April 23. Although the group closed its doors in 2011, the non-profit agency reportedly still has unsettled debt with the North Carolina Department of Health and Human Services (DHHS) in the amount of $2 million. They also listed thousands of dollars in unsettled debts to other companies, unpaid wages, and other expenses. W.E.B. DuBois Community Development Corp. only had $23,520 worth of assets after selling their property.
Acquiring overwhelming debt in the course of running a business can be frustrating, but filing for bankruptcy can provide you with much-needed protection. If you are suffering from the weight of unmanageable debt, the Raleigh legal team at the Bradford Law Offices, PLLC may be able to offer you much-needed assistance. Discuss your situation with us today by calling (919) 758-8879.