Maine Property Rental Management Biz Files Chapter 7 Bankruptcy

Written by CFB Blogger. Posted in Blog

Donald and Mary Rivers, owners of Rivers By the Sea LLC, one of the largest property rental management businesses in York, Maine, have filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court in Portland.  The bankruptcy filing lists assets of $850,000 for property and $30,000 for personal property, secured claims of $2.5 million and unsecured claims totaling $5.4 million. One of the largest secured claims is by Maine Revenue Services. A smaller claim has been filed by Chip Sparling for money he claims he is owed for his family’s York Beach property rental. The bankruptcy trustee states that there are dozens of creditors. According to a story by Susan Morse on www.seacoastonline.com, Mr. Rivers said he is planning on keeping his business going despite serious health concerns for the couple. However, the article continues, “Over the past three years, through foreclosure auction, eviction or other means, Rivers has lost his Atlantic House condominiums, the restaurant Blue Sky on York Beach within the Atlantic House, and the Rock-A-Way Hotel and Kearsarge House, all located in the same area. If you are contemplating filing Chapter 7 or Chapter 13 personal bankruptcy, call the Client First Bankruptcy experts. Our experienced bankruptcy attorneys are available for mini-phone consultations Monday through Friday to answer your financial debt questions. We answer our phones from 8:30 a.m.-6:00 p.m. Central Time so you can call when you need us. The skilled the Client First Bankruptcy experts have many years of experience in all aspects of Chapter 7 and Chapter 13 bankruptcy relief.  We have helped thousands of clients eliminate their overwhelming debt, including reducing principal balances on underwater second mortgages.  With the Client First Bankruptcy flexible payment plans, we will work within your budget. Log onto www.clientfirstbankruptcy.com for important bankruptcy info. Call us toll-free 800-383-6004. Let’s talk and see if our skilled bankruptcy pros can help you realize a more secure financial future.