The national benevolent bankruptcy threatens the health care and homes of thousands of poor people.

National Benevolent Bankruptcy - The National Benevolent bankruptcy shows us that even non-profit organizations can go bankrupt, and that when they do, it has almost as much effect as when a major company goes bankrupt. One thing that this bankruptcy does show us, as well, is the effects of a filed chapter 11 bankruptcy. This bankruptcy filing will end up costing a lot of money, but does not mean that National Benevolent will cease to exist. In fact, the bankruptcy is less a disbanding of the organization, and more of a re-organization of it. In the end, we’re likely to end up with National Benevolent still in existence.

The National Benevolent bankruptcy shows that when a company or an individual declares bankruptcy, their assets no-longer really belong to them. For example, since National Benevolent owes over $222 million dollars to all of its assorted creditors, then all of its actions in the future are going to be directed toward trying to pay as much of this debt back to its creditors. Unfortunately, with companies like National Benevolent, it’s often difficult to figure out how much money it will be possible for the organization to pay back.

The problem with the National Benevolent bankruptcy is that it may have a negative effect on the many people who rely on the organization for help and services. After all, this was a non-profit organization that worked to provide health care and housing for people who could not afford it otherwise. This is part of the reason why this organization is unlikely to be disbanded – there are too many people depending on it currently, who would be left without a place to live or without a doctor.

The most likely result of the National Benevolent bankruptcy is that the people running the organization are likely to be changed, and the organization of it will be shuffled around. Unfortunately, many of the creditors have complained that it is going to cost far too much money to complete the reorganization as originally planned. In fact, the bill for the reorganization was estimated to be near $20 million dollars. The objections to this were raised because this money could better be spent helping the people that the charity was created to help.

Previous Articles Highlighter:

National Debt (1)
...The national debt is far larger than any debt owed by any one debtor, obviously, and it affects everybody who lives in the country. First, it affects us all by having an effect on the United States ...

Navy Federal Credit Union (2)
...you do not have to leave the credit union – which is good for financial stability. Like most credit unions, the Navy Federal Credit Union is not for profit and exists so that people can have a ...

New York Debt Consolidation (3)
...you should still take a look at all of your other options before you decide to declare bankruptcy – especially if you want to save your credit rating. The first thing you’re probab...

Nonprofit Debt Consolidation (4)
...look for a nonprofit debt consolidation company. They’re not too hard if you know where to look, and they will also help you to both get out of debt and even stay out of debt once you’re...

Non Profit Debt Consolidation (5)
...work for profit. In fact, if you want to get great, cheap debt consolidation services, the best thing for you to do is to look for a non profit debt consolidation company. If it’s non-profit...

North Carolina Debt Consolidation (6)
...wroth more than $1,500 and you live in North Carolina, debt consolidation is probably a much better option than declaring bankruptcy. While North Carolina is better in what you’re allowed t...

Not For Profit Debt Condolidation (7)
...getting the service you want, need and deserve. As a result, you should definitely check to make sure that whatever debt consolidation company you go with is operating in a way that is not for profit...

Ohio Debt Consolidation (8)
...of personal property. As you can imagine, this is not very much! Combined with the hits that your credit rating will take for the future, I’m sure you can agree that debt consolidation is a muc...

Online Debt Consolidation (9)
...consolidation companies that are operated online have really quick turn around times with their email – so you could get a response the next day, or even the same day that you ask a question....

Pay Off Debt (10)
...going to get the money to keep paying your bills on time, you should start thinking of your options as far as getting out of debt. One of the most important things that you should work toward is be...

Pennsylvania Debt Consolidation (11)
...do with the bankruptcy exemptions – or lack thereof – in Pennsylvania. If you declare bankruptcy in Pennsylvania, the chances are pretty good that you’ll find yourself without a lot...

Pennsylvania Debt Consolidation Loan (12)
...important to know what you stand to lose if you do make a decision about the issue. For example, in Pennsylvania, debt consolidation loans are a far better idea than declaring bankruptcy due to ...

Pentagon Federal Credit Union (13)
...there is also an option for people who are not related to anybody in the armed services and who may not be in the military themselves, either. This option is that this credit union offers a members...

Personal Debt (14)
...at a time in order to cover all of their expenses. Since it’s so easy to get a credit card, it’s not all that difficult to apply for a new one when the one that you have is maxed out. A...

Free Credit Report (15)
...worried about your credit, then you should definitely check out one of the many online services that offer free credit reports. These services will help you to monitor your credit rating, and allo...

Free Credit Reports (16)
...with fraud concerning your credit. Free credit reports are often given out by debt consolidation companies and companies that specialize in debt advice or debt counselling. If you have a problem w...

Interest Only Mortgage (17)
...25 years left to pay on that term when your principal would then be included and interest will continue. Your payment would jump from $500 per month to maybe $723. And you will not pay anything toward...

Interest Only Mortgages (18)
...per month will be paid on interest on each home and only $100.00 per month will go towards the principal. With Interest only mortgages a person can pay $500 per house per month, which is a savings...

Loan Calculator (19)
...enter all of this information into the loan calculator and you would find that your monthly payments would be approximately $785.00. You can then go back on the loan calculator and play around wi...

Loan Calculators Mortgage Calculator (20)
...looking around at the different loan calculators mortgage calculator utilities available on the internet, you can check out the individual functions and utilities on each one to get a better idea of...

Loan Mortgage Finance (21)
...are having problems with. Often a loan mortgage finance service will help you to refinance your current loan mortgage, to help you get a better rate or to lower your monthly payments. Loan mortgage ...

Loan Refinance Finance (22)
...wish to get set up with. Your credit history will play a large part on how much interest rates will cost you, and what you may even be able to borrow. A loan officer will discuss this with you. Loan r...

Low Interest Credit Cards (23)
...day or night. You can find a wide assortment of low interest credit cards on the world wide web and if you are persistent enough, you will find the perfect low interest credit card for you. Low intere...

Medical Bankruptcy (24)
...The term "medical bankruptcy" is not an actual legal term, as you won’t find it in any of the bankruptcy laws; however bankruptcy cases based on medical hardships are usually...

Michigan Creditors (25)
... All Michigan creditors are required by law to state their name and nature of business when asked and if they refuse to do so, this is considered harassment by Michigan state law as well as by F...

Modular Home Loans (26)
...set of closing cost with a single close. Some offer construction perm loans. Many times you can finance the appraised value of up to 95% of your land and the value of the home. With specialty modula...

Money Management For Kids (27)
...you should think about looking into money management for kids programs, books and videos. It’s never too soon to start teaching your children the value of money, and essential money management ...