Home entertainment is an industry that is rapidly evolving and oversaturated with plenty of competition. If you enjoy watching movies at home, you’re probably familiar with RedBox. RedBox is a brand of kiosks- in a signature red color- that offers customers convenient and affordable options for video and game rentals. They are usually situated outside of grocery stores and pharmacies. With RedBox, users can rent their DVD’s and games for a few days for a few dollars, and conveniently return them to the same kiosk. But many families in the United States don’t even have a DVD player anymore. Streaming services have undoubtedly won the battle for home movie viewers, and now RedBox is going the way of predecessors like Blockbuster and Hollywood Video.
RedBox’s parent company is a name that might be familiar to you. Chicken Soup for the Soul was a popular series of self-help books at the turn of the millennium. The parent company filed a chapter 11 bankruptcy petition specifically for its RedBox sector. On July 10, the case was converted from chapter 11 to chapter 7. As a result, it will be shutting down its approximately 24,000 kiosk locations.
Different Filings For Different Debt Relief Needs
RedBox’s parent company, Chicken Soup for the Soul Entertainment, filed chapter 11 bankruptcy. The other main bankruptcy option for corporate debtors is chapter 7 bankruptcy, although the business must meet certain restrictions to qualify and the business must shut down if this type of bankruptcy is filed. Chapter 11 corporate debtors have the opportunity to shift focus and attempt to bring the company out of bankruptcy. If you are considering chapter 11 for your business, you should check to see if your case will qualify for one of the small business exemptions. Here, your case will proceed more quickly (and with fewer costs) as the requirement to form a committee of your top creditors will be eliminated. But if a small business owner has relatively few business-related assets, it can be easier to file for chapter 7 bankruptcy instead and open a new business with a similar name.
Chapter 7 bankruptcy isn’t just for small business owners. It is the most popular form of bankruptcy, including for personal bankruptcy filings. It allows people struggling with finances to clear debts like credit cards, medical bills, and personal loans. Secured debts, and priority debts like child support and some taxes, aren’t cleared by chapter 7 bankruptcy. A debtor must prove eligibility for chapter 7 bankruptcy by showing their income isn’t high enough to pay off their debts. They also must apply bankruptcy exemptions to any assets they don’t want to be taken and sold by the trustee to pay their creditors. Wondering if you qualify to file for chapter 7 bankruptcy in Arizona? Let our experienced bankruptcy team help you determine if you are eligible, and if chapter 7 bankruptcy is an effective method of debt relief for your personal situation. Call 602-609-7000 to get started today.
Chapter 13 bankruptcy is a type of personal bankruptcy, not a business bankruptcy. It rearranges debts into a payment plan of 3 or 5 years. This payment plan allows a debtor to pay off secured debts and priority debts that can’t be cleared by chapter 7. It also addresses unsecured debts by either paying them off or discharging them, based on the debtor’s income. Do you need assistance calculating your potential chapter 13 payment plan? Let a member of our Arizona bankruptcy team review your situation with a free consultation- call 602-609-7000 to get started today.
Other Affordable Ways To Stay Entertained At Home
You’ve probably noticed that the price of just about everything has gone up lately. Going to the movies has been eliminated from many families’ budgets, especially because most movies are available on home streaming services within just a few weeks of their release in theaters. But these usually come with an additional fee, which is undoubtedly a savings from a night at the movie theater, but an unnecessary expense for households that are struggling financially. Looking for ways to make an at-home movie night more special, or other ways to entertain your family without breaking the bank? Read on for some affordable ways to create lasting memories from home. If you’re struggling financially and could benefit from having your debts cleared, discuss the possibilities of bankruptcy with an experienced professional- call 602-609-7000 for your free consultation today.
Host a Board Game Night
Board games are easy to forget about, even when openly sitting on a shelf next to the television. You can let everyone in your family choose their favorite board game and take turns playing them, or choose a longer game that can take up the whole evening, such as Monopoly or Risk. If competition doesn’t create sore feelings and drama in your family, you can give prizes to the winners or penalties to the losers, whether in the form of small items or nontangible incentives like favors and dares. Board games are a relatively affordable way to create memories with your family that will last a lifetime.
Build a Fort Or Obstacle Course
Something about watching movies while lounging on overturned couch cushions draped with sheets and blankets is extremely comforting. You can build a fort, maze, obstacle course, etc., using household items that will make your home movie night stand out.
Build-Your-Own Food Options
Picking up takeout for a movie night can make it just as expensive as a night at the movie theater. But if your young ones are starting to become more independent, they probably enjoy nights where they get to choose what they will eat. Build-your-own food options are a great compromise between the two. For example, you can lay out toppings for tacos, pizza, ice cream sundaes, nachos, popcorn, and just about any other food that your family enjoys eating during movie nights. That way, everyone gets to create their own custom meal.
Incorporate a Walk Or Physical Activity
Exercise releases endorphins, makes us feel happier, and increases overall health. If you’re planning on a night of indulging in snacks and spending hours in front of the television, you may want to consider going on a walk with your family or doing something else to stay active before, during, or afterwards. A walk could be a great intermission between movie showings, and if you have dogs, they’ll appreciate it even more.
Start The Bankruptcy Process Today With Your Free Consultation
Initiating a bankruptcy case can be intimidating due to the cost and the stress of legal issues. At our office, we strive to eliminate these barriers to filing. We offer free consultations so that you can learn the potential benefits and drawbacks of filing for bankruptcy in your situation without coming out of pocket. You may also qualify for our flexible payment plan options that start as low as Zero Dollars Down. Bankruptcy is a chance to regain control of your finances, and is most effective when filed before creditors get a chance to act. Schedule your free consultation with our experienced Arizona Zero Down Bankruptcy team by calling 602-609-7000. Don’t hesitate to contact us now!
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