For those of you who don't keep up with the fashion world, Betsey Johnson is known
for her high end but whacky colors, prints, and sparkles. After 35 years
of designing prom dresses and flirty clothing, the economic recession took its
toll on sales and Betsey Johnson filed for Chapter 11 Bankruptcy in the spring
Her loyal customers thought that it was the end of their beloved designed but
Betsey Johnson viewed her Bankruptcy as a fresh start. And a fresh
start it has proven to be.
In less than a year after filing for bankruptcy, Betsey Johnson was able to obtain new credit loans to create an exciting line of the same fun
clothing with more affordable price tags. Women will no longer have
to search out her stores at shopping destinations in NYC and
LA but will be able to access her clothing from department
stores such as Macys and Nordstrom, across the country. Betsey
Johnson has also been offered a television show to be aired on the Style
Network starring her and designer daughter, Lulu Johnson called The Betsey and Lulu Show.
Now you may be thinking that a celebrity can make a quick and successful comeback
after bankruptcy but not regular working folks. I am here to tell you
that you do not need to be famous to reap these kind of benefits, yes I said it, BENEFITS
that bankruptcy can offer you. Time and time again my clients tell me
that it was only AFTER bankruptcy that they were able to refinance an interest
rate on their home, or that they were able to get equity loans or additional
credit cards. This may seem counter intuitive at first glance.
Let me explain: bankruptcy wipes away the majority of creditors on your credit
report, this causes your credit score to rise and simultaneously you become a
more attractive candidate to future loans. So, whether you want a fresh
start on your small business or whether you want a fresh start on managing your
credit, bankruptcy is designed to give you that opportunity.
At 70 years young, Betsey Johnson was able to get new credit within a year of filing
bankruptcy. You have time to start over.
5148 Peach Street, Suite 330
Erie, PA 16509
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Pittsburgh, PA 15212